Bank for International Settlements (BIS)
MAS appoints Menon as new managing director
The Monetary Authority of Singapore (MAS) has named Ravi Menon as its new managing director. He replaces Heng Swee Keat who is leaving administrative service.
Polish OTC clearer aims for 2012 launch as Europe fragments
Another central counterparty plans to launch in Europe, starting with zloty-denominated interest rate swaps
BIS economists identify indicators of systemic risk
Bank for International Settlements research points to size as most reliable indicator of systemic importance, ahead of interbank lending and borrowing
Clarity, access to information key to financial market infrastructure oversight, say regulators
Consultation report from CPSS and Iosco says central banks, market regulators need clear, specific information to determine which financial market infrastructures need regulation
CPSS-Iosco proposes risk standards for CCPs
Central counterparties should be ready for failure of one or two largest customers, regulators suggest
BIS’s Caruana makes distinction in measurement of capital inflows
Bank for International Settlements general manager Jaime Caruana emphases focus on gross rather than net flows to measure capital inflows
BoE forecasts at odds with public view: BIS paper
Bank for International Settlements study finds substantial disagreement among UK consumers and Bank of England over inflation forecasts
Countercyclical buffer could be big help to output: BIS paper
Research by the Bank for International Settlements says Basel III’s countercyclical capital buffer could have “sizable” hand in preventing output falls
Without better data, we risk a repeat of the crisis
More analysis of the nature of cross-border financial flows and a global risk map are essential in countering systemic threats, Bernd Braasch argues
Dealers face funding time-bomb from one-way CSAs
Five banks disclose $30 billion obligation from one-way collateral agreements - and dealers warn costs could soar as interest rates rise
BIS reviews macroprudential literature
Literature review published by the Bank for International Settlements finds gaps in assessing the effectiveness of macroprudential tools, studying interaction with monetary policy
Korea’s Kim promotes debate on enhancing macroprudential tools
Bank of Korea governor Kim Choongsoo encourages debate within international circles on more advanced forms of macroprudential instruments to ease emerging market risks
RBI’s Sinha promoted to deputy governor
Reserve Bank of India appoints executive director Anand Sinha to fourth and final deputy governor position
BIS appoints Chile’s De Gregorio to chair regional consultation group
Central Bank of Chile governor De Gregorio succeeds former Central Bank of Brazil governor Henrique Meirelles as head of Bank for International Settlements Consultation Council for the Americas
Shirakawa elected vice-chair of BIS board
Bank of Japan governor Masaaki Shirakawa picked to succeed Hans Tietmeyer as vice-chair of Bank for International Settlements’ board of directors
Forecasting ability fails to justify rating agencies’ power grab
Rating agencies forecasts “not particularly outstanding” during decades following the Great Depression, Bank for International Settlements paper finds
Reasons behind offshore bond issuance: BIS
Bank for International Settlements research finds price differentials and access to overseas investors among key reasons to issue paper offshore
QE2 hopes reflected in dollar, risk reversal trends: BIS
Bank for International Settlements’ December Quarterly Review charts effects of QE2 anticipation, eurozone sovereign debt woes, in fourth quarter
BIS: access to CDS markets reduces debt financing in Asia
Bank for International Settlements study shows credit default swap trading lowers bond issuance costs
Central banks more independent in decentralised states: BIS
Bank for International Settlements study looks at impact of political economy on central bank independence
How to ease Basel III costs: BIS
Bank for International Settlements study says banks can increase lending spreads to recoup costs from higher capital requirements
Communicating macroprudential policy
A sound communications strategy can enhance the impact of macroprudential policy actions and build the political support needed for such steps, Tim Ng writes
White emphasises use of Austrian school in policymaking
Bank for International Settlements former economic adviser William White says use of Austrian school assumptions about the financial system could help prevent further crises
BIS survey shows OTC market levelling off
Notional volume and credit exposures are growing more slowly, latest market data shows