http://www.bis.org/list/cgfs/tid_42/index.rss Publications of the Committee on the Global Financial System (CGFS), monitoring developments in global financial markets for the central bank Governors of the G10 countries. Disclosure practices en http://www.bis.org/publ/cgfs49.htm Abstract of "Asset encumbrance, financial reform and the demand for collateral assets", May 2013. Given that the demand for collateral assets is increasing, the Committee on the Global Financial System (CGFS) in May 2012 established a Working Group (chaired by Aerdt Houben, Netherlands Bank) to explore the implications of this trend for markets and policy. This report presents the Group's findings from a system-wide perspective and draws broad conclusions for policymakers. Asset encumbrance, financial reform and the demand for collateral assets 2013-05-27T19:00:00Z Given that the demand for collateral assets is increasing, the Committee on the Global Financial System (CGFS) in May 2012 established a Working Group (chaired by Aerdt Houben, Netherlands Bank) to explore the implications of this trend for markets and policy. This report presents the Group's findings from a system-wide perspective and draws broad conclusions for policymakers. The report presents evidence of increased reliance by banks on collateralised funding markets in recent years for some regions, with the increase being most pronounced in Europe. Regulatory reforms and the shift towards central clearing of derivatives transactions will also add to the demand for collateral assets. But there is no evidence or expectation of any lasting or widespread scarcity of such assets in global financial markets. Temporary supply-demand imbalances, however, may arise in some cases, as the supply of collateral assets varies widely across jurisdictions and institutions. Endogenous private sector responses, such as collateral transformation activities, will help to address these supply-demand imbalances if and when they emerge. While this will mitigate collateral scarcity, these activities are likely to come at the cost of increased interconnectedness, procyclicality and financial system opacity as well as higher operational, funding and rollover risks. Hence, monitoring these developments and designing measures that limit any resulting adverse market implications for financial market stability should be an important focus of policy. The concepts and policy implications described in this report are a timely contribution on an important topic. I hope that they will inform ongoing discussions among policymakers on some of the key issues related to increased demand for collateral assets. Asset encumbrance, financial reform and the demand for collateral assets 2013-05-27T19:00:00Z BIS Asset encumbrance collateral demand deposit guarantee schemes collateral transformation services PDF version http://www.bis.org/publ/cgfs49.pdf May 2013 Bank for International Settlements: CGFS Publications 49 http://www.bis.org/publ/cgfs44.htm Abstract of "Fixed income strategies of insurance companies and pension funds", July 2011 Fixed income strategies of insurance companies and pension funds 2011-07-12T19:00:00Z Fixed income strategies of insurance companies and pension funds 2011-07-12T19:00:00Z BIS asset allocation pension funds insurance companies accounting changes Solvency II fixed income markets PDF version http://www.bis.org/publ/cgfs44.pdf July 2011 Bank for International Settlements: CGFS Publications 44 M40 G23 G22 G28 http://www.bis.org/publ/cgfs27.htm Executive summary of CGFS publication 'Institutional investors, global savings and asset allocation', February 2007. Institutional investors, global savings and asset allocation 2007-02-27T23:00:00Z Institutional investors, global savings and asset allocation 2007-02-27T23:00:00Z BIS CGFS institutional investors global savings asset allocation PDF version http://www.bis.org/publ/cgfs27.pdf February 2007 Bank for International Settlements: CGFS Publications 27 http://www.bis.org/publ/ecsc09.htm Enhancing transparency regarding the authorities' foreign currency liquidity position (CGFS Publications No. 9) Enhancing transparency regarding the authorities' foreign currency liquidity position 1998-09-08T22:00:00Z Enhancing transparency regarding the authorities' foreign currency liquidity position 1998-09-08T22:00:00Z BIS Financial statistics, disclosure practices, financial crises PDF version http://www.bis.org/publ/ecsc09.pdf September 1998 Bank for International Settlements: CGFS Publications 9 http://www.bis.org/publ/ecsc03.htm A discussion paper on public disclosure of market and credit risks by financial intermediaries (CGFS Publications No. 3) A discussion paper on public disclosure of market and credit risks by financial intermediaries (Fisher Report) 1994-08-31T22:00:00Z A discussion paper on public disclosure of market and credit risks by financial intermediaries (Fisher Report) 1994-08-31T22:00:00Z BIS PDF version http://www.bis.org/publ/ecsc03.pdf September 1994 Bank for International Settlements: CGFS Publications 3