http://www.bis.org/list/bis/index.rss All updates of the BIS websites, including speeches, statistical and press releases, and research papers. en http://www.bis.org/review/r130524a.pdf Speech by Mr Mario Draghi, President of the European Central Bank, at the event entitled "The future of Europe in the global economy", hosted by the City of London Corporation, London, 23 May 2013. Mario Draghi: Building stability and sustained prosperity in Europe 2013-05-24T14:29:00Z 36 kb Mario Draghi: Building stability and sustained prosperity in Europe 2013-05-24T14:29:00Z BIS Mario Draghi Draghi Mr President European Central Bank http://www.bis.org/review/r130524b.pdf Speech by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the ICMA Annual General Meeting and Conference 2013, organised by the International Capital Market Association, Copenhagen, 23 May 2013. Benoît Cœuré: The Single Resolution Mechanism - why it is needed 2013-05-24T14:29:00Z 22 kb Benoît Cœuré: The Single Resolution Mechanism - why it is needed 2013-05-24T14:29:00Z BIS Benoît Cœuré Cœuré Mr Member of the Executive Board European Central Bank http://www.bis.org/review/r130524c.pdf Speech by Mr Vítor Constâncio, Vice-President of the European Central Bank, at the Bank of Greece conference on "The crisis in the euro area", Athens, 23 May 2013. Vítor Constâncio: The European crisis and the role of the financial system 2013-05-24T14:29:00Z 921 kb Vítor Constâncio: The European crisis and the role of the financial system 2013-05-24T14:29:00Z BIS Vítor Constâncio Constâncio Mr Vice President European Central Bank http://www.bis.org/review/r130524d.pdf Speech by Dr Jens Weidmann, President of the Deutsche Bundesbank, at the 4th Bank of France-Deutsche Bundesbank Macroeconomics and Finance Conference, Paris, 24 May 2013. Jens Weidmann: Who calls the shots? The problem of fiscal dominance 2013-05-24T14:29:00Z 21 kb Jens Weidmann: Who calls the shots? The problem of fiscal dominance 2013-05-24T14:29:00Z BIS Jens Weidmann Weidmann Dr President Deutsche Bundesbank http://www.bis.org/review/r130524e.pdf Speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the International Conference on "The future of Asia", Tokyo, 24 May 2013. Haruhiko Kuroda: Realizing the Asian century 2013-05-24T14:29:00Z 27 kb Haruhiko Kuroda: Realizing the Asian century 2013-05-24T14:29:00Z BIS Haruhiko Kuroda Kuroda Mr Governor Bank of Japan http://www.bis.org/review/r130524f.pdf Welcome address by Mr Christian Noyer, Governor of the Bank of France and Chairman of the Board of Directors of the Bank for International Settlements, at the 4th Bank of France-Deutsche Bundesbank Macroeconomics and Finance Conference, Paris, 24 May 2013. Christian Noyer: Current policy debate challenges - a euro area perspective 2013-05-24T14:29:00Z 24 kb Christian Noyer: Current policy debate challenges - a euro area perspective 2013-05-24T14:29:00Z BIS Christian Noyer Noyer Mr Governor Bank of France http://www.bis.org/review/r130523a.pdf Testimony by Mr Ben S Bernanke, Chairman of the Board of Governors of the Federal Reserve System, before the Joint Economic Committee, US Congress, Washington DC, 22 May 2013. Ben S Bernanke: The economic outlook 2013-05-23T14:10:00Z 26 kb Ben S Bernanke: The economic outlook 2013-05-23T14:10:00Z BIS Ben S Bernanke Bernanke Mr Chairman Board of Governors of the Federal Reserve System http://www.bis.org/review/r130523b.pdf Speech by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the Journées de l'AFSE (Association Française de Science Economique) 2013 "La crise de l'Union Economique et Monétaire (UEM): Enjeux théoriques et perspectives de politique économique", University of Orléans, Orléans, 17 May 2013. Benoît Cœuré: Monetary policy in the crisis - confronting short-run challenges while anchoring long-run expectations 2013-05-23T14:10:00Z 84 kb Benoît Cœuré: Monetary policy in the crisis - confronting short-run challenges while anchoring long-run expectations 2013-05-23T14:10:00Z BIS Benoît Cœuré Cœuré Mr Member of the Executive Board European Central Bank http://www.bis.org/review/r130523c.pdf Speech by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the Peterson Institute for International Economics, Washington DC, 22 May 2013. Peter Praet: Monetary policy in the context of balance sheet adjustments 2013-05-23T14:10:00Z 828 kb Peter Praet: Monetary policy in the context of balance sheet adjustments 2013-05-23T14:10:00Z BIS Peter Praet Praet Mr Member of the Executive Board European Central Bank http://www.bis.org/review/r130523d.pdf Speech by Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, at the Asian Bureau of Financial and Economics Research (ABFER) Opening Gala Dinner, Singapore, 21 May 2013. Ravi Menon: Securing price stability as Singapore restructures 2013-05-23T14:10:00Z 49 kb Ravi Menon: Securing price stability as Singapore restructures 2013-05-23T14:10:00Z BIS Ravi Menon Menon Mr Managing Director Monetary Authority of Singapore http://www.bis.org/review/r130522a.pdf Remarks by Mr William C Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York and Chairman of the Committee on the Global Financial System (CGFS), at the Japan Society, New York City, 21 May 2013. William C Dudley: Lessons at the zero bound - the Japanese and US experience 2013-05-22T14:18:00Z 58 kb William C Dudley: Lessons at the zero bound - the Japanese and US experience 2013-05-22T14:18:00Z BIS William C Dudley Dudley Mr President and Chief Executive Officer Federal Reserve Bank of New York http://www.bis.org/review/r130522b.pdf Remarks by Mr Mark Carney, Governor of the Bank of Canada and Chairman of the Financial Stability Board, to the Board of Trade of Metropolitan Montreal/Chambre de commerce du Montréal métropolitain (CCMM), Montreal, Quebec, 21 May 2013. Mark Carney: Canada works 2013-05-22T14:18:00Z 585 kb Mark Carney: Canada works 2013-05-22T14:18:00Z BIS Mark Carney Carney Mr Governor Bank of Canada http://www.bis.org/review/r130522c.pdf Speech by Dr Choongsoo Kim, Governor of the Bank of Korea, at the International Seminar on "Macroprudential and monetary policies", Bank of Korea, Seoul, 8 April 2013. Choongsoo Kim: Harmonious operation of macroprudential and monetary policies, and challenges 2013-05-22T14:18:00Z 30 kb Choongsoo Kim: Harmonious operation of macroprudential and monetary policies, and challenges 2013-05-22T14:18:00Z BIS Choongsoo Kim Kim Mr Governor Bank of Korea http://www.bis.org/publ/work413.htm BIS Working Papers No 413. The global financial crisis led to discussion of corrective bank taxes to promote financial stability. This paper interprets the widening of the FDIC assessment base from deposits to assets less equity for US-chartered banks in April 2011 as such a corrective or Pigovian tax. In terms of yields, banks shifted its cost to wholesale funders, benefiting floating-rate borrowers, while the ... The 2011 FDIC assessment on banks managed liabilities: interest rate and balance-sheet responses 2013-05-22T08:17:00Z The global financial crisis led to discussion of corrective bank taxes to promote financial stability. This paper interprets the widening of the FDIC assessment base from deposits to assets less equity for US-chartered banks in April 2011 as such a corrective or Pigovian tax. In terms of yields, banks shifted its cost to wholesale funders, benefiting floating-rate borrowers, while the linkage between onshore and offshore dollar money markets weakened. In terms of quantities, US-chartered banks shifted funding to more stable deposits. At the same time, the US branches of non-US banks, which were unaffected by the widened assessment base, increased US assets, funding their take-up of most of the Fed's reserve injection of $600 billion offshore. Thus, a new internationally uncoordinated policy had the expected effect on US banks' funding structure, but also redistributed dollar intermediation to non-US banks that continue to rely on wholesale funding. The implication for global financial stability is at best ambiguous. The 2011 FDIC assessment on banks managed liabilities: interest rate and balance-sheet responses 2013-05-22T08:17:00Z BIS Deposit Insurance money markets Dodd-Frank wholesale funding flow of funds large-scale asset purchases eurodollars federal funds reserve balances repo PDF version http://www.bis.org/publ/work413.pdf Lawrence L Kreicher Kreicher Professor Dartmouth College Robert N McCauley McCauley Mr Senior Adviser Bank for International Settlements Patrick McGuire McGuire Mr Senior Economist Bank for International Settlements Lawrence L Kreicher, Robert N McCauley and Patrick McGuire 22 May 2013 Bank for International Settlements: Working Papers 413 G01 G15 E65 G21 G28 E52 E43 http://www.bis.org/review/r130521a.pdf Speech by Ms Sarah Bloom Raskin, Member of the Board of Governors of the Federal Reserve System, at the Society of Government Economists and the National Economists Club, Washington DC, 16 May 2013. Sarah Bloom Raskin: Prospects for a stronger recovery 2013-05-21T14:13:00Z 45 kb Sarah Bloom Raskin: Prospects for a stronger recovery 2013-05-21T14:13:00Z BIS Sarah Bloom Raskin Bloom Raskin Ms Member Board of Governors of the Federal Reserve System