Bank for International Settlements (BIS)
BIS’s Caruana warns of low interest rates risk
Jaime Caruana says low interest rates have created a ‘first-mover disadvantage’ that prevents rates rising and could fuel financial instability
Emerging market bonds behaving as safe assets, says BIS paper
Local government bond yields in emerging market economies have contracted as global risk sentiment worsens, study suggests
Collateral eligibility policy is neglected, says BIS paper
As number of assets accepted as collateral by ECB grows, so does the credit risk faced by Europe’s central bank
BIS’s Cecchetti envisages world without G-Sifis
Stephen Cecchetti says the global financial system needs to reach a stage where no banks are globally systemically important; market discipline critical to stability but not sufficient
Robert Pringle’s Viewpoint: Fixing banks and regulation
Central bank balance sheets are ballooning due to the failure of banking systems and new rules are unlikely to address the issue. Only a full legal separation of banking activities will do.
IMF meeting set to reinforce global pessimism
Governments need to take urgent policy action to capitalise on the ‘breathing space’ created by central banks. But few attending the IMF meeting in Tokyo believe law-makers are fit for the task
European Commission criticises Basel Committee findings
Assessment report finds EU and US ‘materially non-compliant’ with some areas of Basel framework; European Commission questions report’s methodology and use of evidence
Monetary easing does not prompt crisis recovery, says BIS paper
Paper published by the Bank for International Settlements finds monetary easing does not help economic recovery following a financial crisis downturn; deleveraging produces more positive effects
Bank manager and shareholder personal liability rules debated at Giff 2012
Comments by Turkish deputy prime minister sparked debate at Giff about the use of personal liability as a method to ensure shareholders take their role seriously and moderate the actions of bankers
BIS paper examines link between low growth and recessions
Bank for International Settlements research studies relationship between low growth and recession in the US; finds some growth patterns can forecast a sharp decline in GDP
BIS raises fears over lower global growth trajectory
Bank for International Settlements Quarterly Review says global growth outlook deteriorated further over the quarter; warns of diminishing benefits to unconventional monetary policy
Kim succeeds Shirakawa as chairman of BIS Asia council
Bank of Korea governor Choongsoo Kim named chairman of the BIS Asian Consultative Council
Central banks launch joint investigation into Libor scandal
Economic Consultative Committee announces examination of reference rates used in financial markets; market will be consulted
Tributes to the governor that never was (Andrew Crockett, 1943-2012)
Bank of England, BIS and IMF heads pay respects to policymaker Andrew Crockett, who died this week. Crockett described as the governor ‘that never was’ and the ‘midwife’ to the HKMA
Public policy signals can be beneficial, says BIS paper
Bank for International Settlements study models effect of policy signals on prices and market outcomes; takes into account market response
BIS paper analyses demographic influence on money supply
Bank for International Settlements research examines impact of baby boomers on inflation; predicts trouble ahead for central banks
BIS chief advocates deeper policy cooperation
Jaime Caruana calls on central banks to consider international implications of domestic monetary policy; says segmenting markets does not make sense
BIS research analyses unconventional policies
Bank for International Settlements study examines unconventional policies employed during recession periods; compares the effects with other monetary tools
Where the BIS falls short
Robert Pringle compares the analysis and policy recommendations offered by the BIS in its latest annual report with those in his new book, The Money Trap
Germany's concerns about the ECB’s bloated balance sheet
The ECB’s unconventional monetary policy actions have caused a stir in Germany. The Bundesbank's Joachim Nagel speaks with Klaus Engelen about the risks the ECB now faces
Basel Committee praises progress in reducing FX settlement risk
Consultative document highlights progress made in reducing foreign exchange settlement risks; updated guidelines warn that significant risks still remain
FSB launches peer review of resolution regimes
Questionnaire sent out by Financial Stability Board aims to provide comparative analysis of members’ resolution regimes to identify gaps and evaluate progress
BIS paper assesses impact of public recapitalisations on bank risk
Research analyses changes in risk levels in banks that required public funding during the financial crisis; finds no consistent evidence that rescued banks reduced their risk by more than other banks
BIS paper links funding to emerging economies and stock market volatility
Working paper studies funding flows between emerging market central banks and investors during stock market calm and volatility; suggests this reinforces risk-on and risk-off markets