Bank for International Settlements (BIS)
Yellen takes sides in ‘lean against the wind' debate
Federal Reserve chair says monetary policy faces ‘significant limitations as a tool to promote financial stability'; macro-prudential policies ‘far more direct' and effective
BIS's Caruana warns low interest rates are ‘self-validating'
Persistent low interest rates can become self-validating, BIS general manager Jaime Caruana warns, in annual speech in which he called for greater international co-ordination
BIS warns central banks to bite the bullet on monetary policy normalisation
BIS annual report says it may already be too late for a gradual exit from unconventional policy; warns markets may pre-empt exit if they feel central banks are behind the curve
Robert Pringle’s Viewpoint: Coping with capital flows
All nations face major challenges dealing with capital flows. In the absence of systemic reform to monetary and exchange rate systems, central banks will need to patch and mend where they can
Exchange rate losing significance in Asian monetary policy, BIS paper argues
Bank for International Settlements working paper argues sterilised intervention in currency markets is becoming less effective as Asia's economies trade more freely with each other
Borio: current account is a ‘badly inadequate' measure of financial risk
BIS director says still not enough attention is paid to capital account but adds build-up of vulnerabilities also requires looking directly at balance sheets of cross-border institutions
‘Shadow policy rate' measures Fed monetary policy stance at ZLB
BIS working paper describes a shadow policy rate constructed from a number of variables reflecting monetary policy actions to divine the Fed's stance at the zero lower bound
Caruana says ‘naïve' to be seduced by simple rules
Financial markets will continue to innovate to get around financial regulations - meaning regulators must also keep innovating, says BIS's Jaime Caruana
BIS figures show cross-border lending on the mend outside the eurozone
Statistics for the final quarter of 2014 show cross-border lending recovering in most of the world, especially China, but continuing to decline in the eurozone
Central banks must grasp opportunity to shrink balance sheets safely
Central bank purchases of government bonds have turned traditional dogma on its head - but dangers lurk in the unwinding, warns Philip Turner
Coen appointed new Basel Committee secretary-general
William Coen takes over Basel Committee secretariat after seven years as deputy; Wayne Byres leaves to head Australia’s prudential regulator
Supply chain integration drives closer price co-movement, BIS paper finds
Headline inflation rates and producer prices move more closely together between Asian economies that trade more with one another, BIS paper shows
Caruana outlines path to recovery from global balance sheet recession
BIS general manager says global economy requires co-ordinated monetary, prudential and fiscal policies in order to recover from the recession caused by financial boom and bust
Zöllner: Asset managers are biggest non-bank FX traders
Head of banking at Bank for International Settlements highlights growing role of non-bank market participants in FX
Forex interventions can lead to banking credit boom, paper finds
BIS paper shows that central bank intervention in forex markets can end up fuelling an expansion in credit to the private sector in emerging markets
BIS economists give forward guidance mixed review
Research in quarterly review says forward guidance has shaped market expectations but warns it could ‘encourage excessive risk-taking’ in the markets
Fed not to blame for recent emerging market sell-off, says BIS
Recent rush of capital out of emerging markets was due to country-specific factors, not tapering by the Fed; Borio reiterates call for better policies, lamenting a ‘disappointing element of déjà vu’
World's biggest banks $80bn short of Basel III capital
Results from Basel Committee's latest monitoring exercise of banks' compliance with new regulatory framework shows progress but also some setbacks
Caruana calls on central banks to explain reaction functions
BIS general manager says central banks must manage expectations as they normalise monetary policy, partly by explaining how ‘policies might change as conditions evolve’
Nigerian RTGS joins Swift
The country's adoption of the global payment platform yesterday is expected to improve settlement security and discourage the use of cash payments in the longer term
Borio-led BIS team proposes new approach to measure output gap
Trying to calculate the output gap using the Phillips curve is problematic, say Basel-based economists; new approach finds financial cycle proxies add ‘significant information' to the estimate
Global lending conditions more connected than ever, says BIS's Turner
Big emerging market corporations are borrowing abroad, while global capital has been flowing into EMs – meaning lending conditions are more strongly connected than before
Central banks must lean against boom and bust to retain credibility, says Borio
A more symmetrical response to booms and busts is required to leave policy-makers with the ammunition and credibility to tackle them, says top BIS economist
People: Maldives nominates female governor; Uribe takes over from Carstens on BIS body
Local bank executive nominated after former governor's sudden resignation; Colombia governor Uribe takes over from Agustin Carstens on BIS Americas council