Bank for International Settlements (BIS)
Tributes to the governor that never was (Andrew Crockett, 1943-2012)
Bank of England, BIS and IMF heads pay respects to policymaker Andrew Crockett, who died this week. Crockett described as the governor ‘that never was’ and the ‘midwife’ to the HKMA
Public policy signals can be beneficial, says BIS paper
Bank for International Settlements study models effect of policy signals on prices and market outcomes; takes into account market response
BIS paper analyses demographic influence on money supply
Bank for International Settlements research examines impact of baby boomers on inflation; predicts trouble ahead for central banks
BIS chief advocates deeper policy cooperation
Jaime Caruana calls on central banks to consider international implications of domestic monetary policy; says segmenting markets does not make sense
BIS research analyses unconventional policies
Bank for International Settlements study examines unconventional policies employed during recession periods; compares the effects with other monetary tools
Where the BIS falls short
Robert Pringle compares the analysis and policy recommendations offered by the BIS in its latest annual report with those in his new book, The Money Trap
Germany's concerns about the ECB’s bloated balance sheet
The ECB’s unconventional monetary policy actions have caused a stir in Germany. The Bundesbank's Joachim Nagel speaks with Klaus Engelen about the risks the ECB now faces
Basel Committee praises progress in reducing FX settlement risk
Consultative document highlights progress made in reducing foreign exchange settlement risks; updated guidelines warn that significant risks still remain
FSB launches peer review of resolution regimes
Questionnaire sent out by Financial Stability Board aims to provide comparative analysis of members’ resolution regimes to identify gaps and evaluate progress
BIS paper assesses impact of public recapitalisations on bank risk
Research analyses changes in risk levels in banks that required public funding during the financial crisis; finds no consistent evidence that rescued banks reduced their risk by more than other banks
BIS paper links funding to emerging economies and stock market volatility
Working paper studies funding flows between emerging market central banks and investors during stock market calm and volatility; suggests this reinforces risk-on and risk-off markets
BIS paper argues financial systems can grow too large
Working paper examines impact of size of financial systems on productivity growth; finds size of financial sector initially boosts productivity but beyond certain threshold has negative effect
Basel Committee reveals final rules on capital disclosure
Final rules published on disclosure of banks’ capital composition as well as consultative document on risk reporting; committee aims to reduce financial stability risks from international banks
BIS’s Cecchetti discusses financial globalisation
Stephen Cecchetti considers whether financial systems can grow too big and assesses how far countries should go in outsourcing financial services
Caruana says central bank credibility ‘must not be squandered’
BIS secretary general says reliance on central banks to provide extraordinary monetary policy to prop up the financial system is causing dangerous distortions; credibility may be ‘squandered’
BIS calls for European banking union and urgent fiscal reform in developed nations
Urgent fiscal reform and genuine efforts to create a banking union in Europe are vital to breaking the viscous linkage between banking and sovereign stress, says BIS
Role of FSB ramped up as Carney updates G-20 on progress
Financial Stability Board to gain legal footing under Swiss law; Carney reports “good” progress on implementation of financial reforms but says more to be done
BIS paper examines impact of financial cycle
Working paper studies the financial cycle and its relationship to the business cycle; emphasises importance of considering the medium term in designing policies
BIS researcher examines countercyclical policy in emerging markets
BIS Quarterly Review special feature assesses the use of countercyclical policies in emerging markets; finds broad implementation of stabilising monetary and fiscal policies
Central banks urged to increase monitoring of retail payment innovation
Central banks may need to improve their data collection and research efforts to ensure they are monitoring the latest developments in retail payments, according to new CPSS report
BIS paper examines macro-prudential models and tools
Working paper considers the effectiveness of macro-prudential models in understanding the role of the financial sector in relation to the real economy
BIS paper studies financial transmission channels
Working paper analyses role of financial system in affecting economic growth and stability; emphasises importance of financial sector in macroeconomic models
HFT adds value to the forex market, says Bank of England
While the effects of high-frequency trading activity should continue to be monitored, the practice adds value to the FX market, a senior Bank of England official has argued
BIS paper examines potential substitute monetary policy tools
Bank for International Settlements working paper discusses potential for interest rate and capital adequacy requirement tools to contribute to financial stability