Bank for International Settlements (BIS)
For-profit CCPs may not hold socially optimal capital – BIS paper
“For-profit CCPs have incentives that are misaligned with financial stability,” author says
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
Low rates can harm productivity, say Liu, Mian and Sufi
Low rates may end up discouraging investment across the economy, authors say
BIS study asks whether central bank crisis actions de-risk the balance sheet
Authors study whether a central bank can influence its own risk, or if this is “wishful thinking”
Euro outpacing dollar as cross-border credit grows
Latest BIS statistics show widening gap between credit growth in the two major currencies
Crypto assets hobbled by proof of work, finds BIS economist
Raphael Auer says bitcoin payments could take “nearly a year” to become truly final
BIS’s Borio calls on economists to take money more seriously
Money is too often explored in isolation, or ignored completely, the BIS economist says
Divergent motives fuelling CBDC discussion, BIS survey reveals
Majority of central banks are researching the various forms of CBDC, but very few expect to launch in the next six years
‘Key currencies’ affect patterns of global imbalances – BIS paper
Authors say it is important to think about a “dollar zone” not just the dollar
EME banks have ‘substantially’ increased global footprint – BIS research
Study finds emerging market banks have taken a greater role as their home economies have grown
More trouble likely after ‘bumps’ in past quarter, says BIS’s Borio
Corporate debt markets are looking overstretched and could trigger problems; term spread may not be best indicator of recession, special feature finds
EME central banks can counter the next downturn
Philip Turner urges central banks to consider a broad range of actions to tackle volatility stemming from currency mismatches
Basel Committee unveils ‘streamlined’ disclosure requirements
Parts of the requirements “substantially streamlined” after complaints from industry
Carstens warns world is not fully prepared for fresh crisis
IMF does not have the resources to act as global lender of last resort, says BIS chief
Beyond payments: central bank digital currency
The issuance of central bank digital currencies, such as Sweden’s proposed e-krona, could facilitate monetary policy beyond the zero lower bound
Policy-makers need to tackle ‘liquidity illusion’ – Carstens
BIS chief warns asset managers may contribute to sudden withdrawals of liquidity; emerging markets should be willing to try unorthodox policies
Advanced economies suffer greater spillovers – BIS research
Study examines extent to which various central banks cause and suffer policy spillovers
Standard notions of time fail to fully explain financial cycles – BIS paper
Distinguishing “calendar time” and “financial cycle time” could help explain booms and busts
Researchers find trade-off between financial sector development and inequality
Financial sector development negatively impacts inequality, BIS paper says
Deposit insurance coverage up ‘substantially’ – IADI survey
Basel-based group finds deposit insurance is widespread and increasingly generous to depositors
Central banks should challenge risky fintech projects – Carstens
Crypto assets do not measure up against the “laws of economics”, BIS chief warns
People: Former Malawian governor dies
Mathews Chikaonda served as governor in the 1990s; new senior appointments made at the BIS; and more
Standard-setters can only partially support inclusion – BIS’s da Silva
Standard-setters can balance risks and opportunities, but cannot tackle deeper structural issues