Changing funding patterns cut both ways for emerging markets, central bankers say
There are risks associated with greater reliance on capital markets
Patterns of financial intermediation in emerging markets are changing, bringing some benefits for monetary policy but also new risks, according to a set of papers published by the Bank for International Settlements (BIS).
The papers, including some from the BIS and many more from emerging market central banks, were published on November 16, though they were prepared for a meeting of central bankers in February.
Although most emerging markets remain heavily reliant on bank funding, the direction
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