Bank for International Settlements (BIS)
Smaller China banks opt for internal credit risk modelling
Regulation and a rise in bad loans drive small and medium-sized banks to reassess their approach to credit risk management
BIS economists say investor behaviour key to understanding EM challenges
Hyun Song Shin and Philip Turner consider implications of shift in financial intermediation for emerging markets; part of wider Banque de France review on the subject
BIS’s Hannoun backs central banks' right to surprise markets
Deputy general manager praises Swiss National Bank for issuing markets with a wake-up call, warning of the heavy cost associated with unconventional monetary policy
Cross-border claims end upward rise, BIS data shows
Latest international banking statistics show global cross-border claims in slight decline after three consecutive quarters on the rise; claims on non-banks rise strongly however
Central Bank of Argentina publishes secret minutes from last dictatorship
Argentina’s central bank releases minutes from secret board meetings during the country’s last dictatorship, which will "shed some light on one of Argentina’s darkest periods", says governor
BIS committee urges central banks to consider collateral policies ahead of time
Central banks should be aware of the effects of their policies on collateral markets, and use this knowledge to prepare in advance for crises, CGFS report finds
BIS paper finds macro-prudential impact varies during cycle
Working paper finds evidence tightening policy is more effective than loosening it, and has a greater impact when credit has been expanding quickly
BoE calls for investigation into market liquidity risks
Financial policy committee concerned that investors assume liquidity will be available when they need it, despite recent fragility; BIS research highlights paradox in liquidity buffers
BIS paper weighs effectiveness of FX intervention strategies
Intervention to reduce volatility or to lean against exchange rate movements each come with distinct costs and benefits, working paper finds
Central banks told to handle financial inclusion with care
Greater inclusion benefits the poor but could damage monetary policy or financial stability if it is not kept under control, BIS research and IMF officials warn
BIS charts ‘boundaries of the unthinkable’ as risks rise
Quarterly review flags growing vulnerabilities and signs of credit booms in some economies; research finds limited impact of deflation on growth, pointing to importance of financial sector
Brazilian deputy picked as BIS deputy general manager
Luiz Awazu Pereira da Silva to join the BIS as deputy general manager when Hervé Hannoun retires later this year
BIS paper says liquidity regulation should not replace lender of last resort function
Lender of last resort and liquidity regulations perform separate roles, and therefore one cannot replace the other, working paper says
BIS’s Caruana calls for ‘humble’ risk management
General manager says both risk managers and regulators must show an awareness of the limits of our understanding as the financial system and real economy grow ever more complex and intertwined
Saccomanni sees political not analytical constraints to policy cooperation
Former Bank of Italy deputy says analytical framework for international monetary policy cooperation already exists, but G-20 countries are being held back by politics
BIS paper finds stabilisation policy can impact long-run growth
Use of short-run interest rates has implications for long-run growth due to their effect on credit and liquidity supply, BIS working paper finds
Growth of finance sucks skill from real economy, BIS paper warns
Financial growth crowds out real growth by drawing skilled labour away from other industries, with R&D hit particularly hard, a working paper by Stephen Cecchetti and Enisse Kharroubi finds
BIS paper asks why bank and central bank rates diverged post-crisis
Authors argue direct comparison of commercial and central bank interest rates is misleading; the relationship between the two has remained stable but funding costs have risen
Ageing population may boost inflation, BIS paper finds
Working paper challenges received wisdom that an ageing population causes disinflation, with implications for the correct calibration of monetary policy
BIS sees cross-border liquidity reverting to historical trend
Latest global liquidity indicators show low volatility combining with rapid cross-border credit growth; researchers challenge simple supply and demand theory of oil-price slump
Good data vital for effective financial inclusion policies
With the World Bank soon to release the first update to its global financial inclusion database, Central Banking speaks to the Alliance for Financial Inclusion on the importance of good data
BCBS paper reviews how accounting may fuel crises
Basel Committee paper surveys research into how accounting rules may have contributed to financial crisis, with implications for the design of disclosure rules
Basel Committee issues enhanced disclosure standards
Revised standards aim to improve the comparability of banks’ risk-weighted assets, shedding light on internal model-based approaches
BIS paper argues debt overhang is ‘leading cause’ of sluggish growth
Paper by Stephanie Lo and Ken Rogoff finds debt overhang is the main factor behind countries struggling to recover from crisis, but high leverage may obscure other factors at play