Bank for International Settlements (BIS)
Remembering Charles Freeland
Charles Freeland, former deputy secretary-general of the Basel Committee and friend of Central Banking, died in 2017
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
Authorities need to deal with ‘limitations’ of global standards
The BIS’s Fernando Restoy says global standards do not cover all possible risks, and national supervisors need to fill in the gaps
Central banks ‘walking a thin line’, BIS economists warn
Luiz Awazu Pereira da Silva and Jochen Schanz note central banks have little room to respond aggressively to surprises
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation
CPMI flags up need for better cross-border payment options
Current infrastructure offers slow and costly transactions that are hard to track, says Committee on Payments and Market Infrastructures
BIS paper uses ‘shadow rate’ to study market expectations
Fan Dora Xia and Jing Cynthia Wu find they can estimate expectations over a longer horizon by using a shadow rate term structure model
BIS’s Carstens sees danger in rapid technological change
General manager says supervisors should ensure the banking system remains resilient amid numerous challenges to traditional business models
People: Caruana nominated for Spanish commercial bank’s board
Qatar appoints deputy governor and Ukraine announces new onsite inspection head
BIS and IMF offer joint course for financial supervisors
Lagarde and Carstens say the two organisations will increase joint efforts at capacity-building
China’s shadow banking market dominated by banks
BIS researchers map the Chinese shadow banking system and its evolution over time, finding it contrasts with the market-based shadow banking of the US
Deflation tends to de-anchor expectations – BIS paper
Deflationary episodes seem to render expectations lower and more backward-looking
Interest rate risk could be seed of next crisis – economists
Financial markets may have underestimated the persistence of low rates, and regulations have amplified the threat, say Srichander Ramaswamy and Philip Turner
A dangerous unknown: interest rate risk in the financial system
Urgent action is needed to tackle the little-understood build-up of interest rate risk in the global financial system; macro-pru tools still inadequate to tackle the issue
BIS’s Carstens calls for cryptocurrency clampdown
Bitcoin has become “a combination of a bubble, a Ponzi scheme and an environmental disaster”
Banks not necessarily more opaque than other firms – BIS paper
Study compares stock returns of those with insider knowledge against the wider market
Misinterpreting commodity price swings can be damaging – BIS paper
Whether movements are down to supply shocks or changes in global demand matters for policy, and mistakes can be procyclical when central banks act together
Carstens: regulators should not forget the non-banks
Banking standards may be largely complete but there is still work to do on non-banks and fintech, the new BIS chief says
Focus on implementing Basel III, central bankers say
Stefan Ingves stresses need for full and timely implementation, while Andreas Dombret says the time for lobbying is over
Better data needed amid rise of non-banks – BIS study
Survey of post-crisis banking structure finds sturdier core banking system, but risks shifting to periphery, raising the need for better surveillance
BIS paper: unconventional policies may have depressed natural rate
Economists find shifts in estimates of the natural rate co-move with unexpected changes in unconventional policy
Economists need to better understand macrofinancial links – BIS paper
Stijn Claessens and Ayhan Kose call for “new generation of models” among other research to solve ongoing puzzles
BIS paper explores effects of global factors on inflation
Authors find impact of global factors is mainly temporary, but the effects appear more significant for countries without long-established inflation targets
Macroeconomics suffers from blind spot, says Borio
Misallocated resources can explain a large part of recent productivity slowdowns, but thinking in aggregate terms obscures this, says BIS economist