BIS’s Cecchetti: change data collection to create “map” to stem crises
Stephen Cecchetti, the head of the monetary and economic department at the Bank for International Settlements (BIS), has called for changes to the way in which officials monitor banks' business activities in order to ward off threats to systemic risk.
In a paper out Thursday, Cecchetti said data gaps revealed by the financial crisis can and should be filled in order to move closer towards an "ideal global risk map", which would offer an overview of exposures of systemically important banks to
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