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Quarterly Review March 2012

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At a glance

15 May	Models and tools for macroprudential analysis
15 May	The policy implications of transmission channels between the financial system and the real economy
09 May	OTC derivatives market activity in the second half of 2011
07 May	When capital adequacy and interest rate policy are substitutes (and when they are not) (Working Paper)
03 May	Fundamental review of the trading book - consultative document (Basel Committee)
25 Apr	Preliminary international banking statistics at end-December 2011

18 Apr	Ensuring price stability in post-crisis Asia: lessons from the recovery (Working Paper)
16 Apr	Principles for financial market infrastructures, assessment methodology and disclosure framework (CPSS-IOSCO)
13 Apr	Peer review of supervisory authorities' implementation of stress testing principles (Basel Committee)
12 Apr	Rapid credit growth and international credit: Challenges for Asia (Working Paper)
12 Apr	Quantitative impact study results published by the Basel Committee
12 Apr	Bank of Korea - Bank for International Settlements - International Monetary Fund: joint conference concludes on macrofinancial linkages and their policy implications

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Research

07 May	When capital adequacy and interest rate policy are substitutes (and when they are not) Prudential instruments are commonly seen as the tools that can be used to deliver the macroprudential policy goals of reducing the frequency and severity of financial crises. And interest rates are traditionally viewed as the means to deliver the macroeconomic stabilisation goals of low, stable inflation and sustainable, stable growth. But, at the macroeconomic level, these two sets of policy tools have quite a bit in common.
18 Apr	Ensuring price stability in post-crisis Asia: lessons from the recovery Asian central banks have adopted monetary policy frameworks over the past decade that have, by and large, worked well both to ensure price stability during the pre-crisis period and to navigate the shoals during the ...
16 Apr	Principles for financial market infrastructures, assessment methodology and disclosure framework The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) have today published three documents that promote global efforts to strengthen financial market infrastructures (FMIs).
12 Apr	Rapid credit growth and international credit: Challenges for Asia Very low interest rates in major currencies have raised concerns over international credit flows to robustly growing economies in Asia. This paper examines three components of international credit and ...

11 Apr	Systemic risk in global banking: what can available data tell us and what more data are needed? The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk analysis is ...
05 Apr	Loan loss provisioning practices of Asian banks In the wake of the Asian financial crisis, many regimes in Asia adopted stricter provisioning requirements, as well as discretionary measures, with the objective of increasing provisioning in good times in response to ...
04 Apr	Residency/Local and Nationality/Global Views of Financial Positions In 2009 the International Monetary Fund and the Financial Stability Board submitted a report to the G20 titled "The Financial Crisis and Information Gaps". The Report contained 20 recommendations, which ...
29 Mar	Property markets and financial stability The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) jointly organised a workshop on property markets and financial stability in Singapore on 5 September 2011 ...
20 Mar	Liquidity transfer pricing: a guide to better practice This paper identifies better practices for liquidity transfer pricing (LTP) by drawing on the responses to an international survey ...

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Speeches

Central bankers' speeches
16 May	Ong Chong Tee: Financial economics Ardian Fullani: Albania's economic and financial developments in 2011 Elizabeth A Duke: Prescriptions for housing recovery Thomas Jordan: Monetary policy in times of crisis. Why central banks talk to one another
14 May	Carlos Gustavo Cano: On the crisis Philip Lowe: Developments in the mining and non-mining economies Benoît Cœuré: Unexpected events and the global safety net
11 May	Andreas Dombret: How to manage financial crisis from a systemic viewpoint Ewald Nowotny: European Monetary Union - lessons from the debt crisis Peter Praet: Managing financial crises - the role of the European Central Bank Ben S Bernanke: Banks and bank lending - the state of play

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BIS Management speeches
03 Apr	by Jaime Caruana: Shareholder value and stability in banking: Is there a conflict? Is there really a conflict between shareholder value and the public policy goal of safer banks? The evidence suggests not, especially over longer time horizons....
02 Apr	by Jaime Caruana: Central banking in a balance sheet recession In order to reduce the risk of protracted weakness and accelerate the return to a self-sustained recovery, policymakers need to promote balance sheet repair and to avoid overburdening monetary policy...
16 Feb	by Hervé Hannoun: Monetary policy in the crisis: testing the limits of monetary policy In the wake of the crisis, demands on monetary policy have grown beyond recognition, putting frameworks under enormous pressure. Central banks are increasingly seen by market participants as all-powerful, able to intervene without any limit...
09 Feb	by Jaime Caruana: Building a resilient financial system The uncertain global environment has prompted calls to reconsider or weaken financial reform. I would argue that, on the contrary, the current uncertainty makes it all the more important for us to follow through on what we have set out to do...

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Statistics

15 May	BIS effective exchange rate indices
09 May	OTC derivatives market activity in the second half of 2011
25 Apr	Preliminary international banking statistics at end-December 2011
30 Mar	Release of property price data

12 Mar	Quarterly Review: summary tables and detailed tables
04 Jan	Statistics on payment, clearing and settlement systems in the CPSS countries - Figures for 2010
12 Dec	Quarterly Review: summary tables and detailed tables

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Basel Committee

15 May	Models and tools for macroprudential analysis
15 May	The policy implications of transmission channels between the financial system and the real economy
03 May	Fundamental review of the trading book - consultative document
13 Apr	Peer review of supervisory authorities' implementation of stress testing principles
12 Apr	Quantitative impact study results published by the Basel Committee
03 Apr	Progress report on Basel III implementation (update published in April 2012) Basel III regulatory consistency assessment programme
15 Feb	Report on intra-group support measures (Joint Forum)
20 Jan	SIFIs: is there a need for a specific regulation on systematically important financial institutions? (speech by Stefan Ingves)

13 Jan	New Chair of the Joint Forum (press release)
08 Jan	Basel III liquidity standard and strategy for assessing implementation of standards endorsed by Group of Governors and Heads of Supervision (press release)
21 Dec	Application of own credit risk adjustments to derivatives - consultative document
20 Dec	Core principles for effective banking supervision - consultative document
19 Dec	Principles for the supervision of financial conglomerates - consultative document (Joint Forum)
19 Dec	Definition of capital disclosure requirements - consultative document
16 Dec	High cost credit protection (Newsletter No 16)
16 Dec	Basel III definition of capital - Frequently asked questions (update of FAQs published in October 2011)

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