http://www.bis.org/list/cgfs/tid_47/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. Market infrastructure en http://www.bis.org/publ/cgfs52.htm Abstract of "Market-making and proprietary trading: industry trends, drivers and policy implications", November 2014 Market-makers serve a crucial role in financial markets by providing liquidity to facilitate market efficiency and functioning. This report - prepared by a Study Group chaired by Denis Beau (Bank of France) - assesses changes in the supply of and demand for market-making services as well as their potential impact on fixed income markets. Market-making and proprietary trading: industry trends, drivers and policy implications 2014-11-21T10:00:00Z Market-makers serve a crucial role in financial markets by providing liquidity to facilitate market efficiency and functioning. This report - prepared by a Study Group chaired by Denis Beau (Bank of France) - assesses changes in the supply of and demand for market-making services as well as their potential impact on fixed income markets. Market-making and proprietary trading: industry trends, drivers and policy implications 2014-11-21T10:00:00Z BIS bond markets market robustness immediacy services dealer inventory PDF version http://www.bis.org/publ/cgfs52.pdf November 2014 Bank for International Settlements: CGFS Publications 52 G15 G12 D47 http://www.bis.org/publ/cgfs51.htm Abstract of "EME banking systems and regional financial integration", March 2014 This report - prepared by a Study Group chaired by Andrew Khoo (Monetary Authority of Singapore) - develops a central bank perspective on the regional integration of EME banking systems and financial markets, assesses the drivers of these developments, and draws broad conclusions for policymakers. The findings are based on data from the BIS international banking statistics (IBS) and various other public sources, interviews with the private sector, inputs from central banks from non-CGFS jurisdictions, as well as reviews of the existing academic literature and case studies from select CGFS member jurisdictions. EME banking systems and regional financial integration 2014-03-07T10:00:00Z This report - prepared by a Study Group chaired by Andrew Khoo (Monetary Authority of Singapore) - develops a central bank perspective on the regional integration of EME banking systems and financial markets, assesses the drivers of these developments, and draws broad conclusions for policymakers. The findings are based on data from the BIS international banking statistics (IBS) and various other public sources, interviews with the private sector, inputs from central banks from non-CGFS jurisdictions, as well as reviews of the existing academic literature and case studies from select CGFS member jurisdictions. EME banking systems and regional financial integration 2014-03-07T10:00:00Z BIS financial integration emerging markets bank business models regional financial arrangements PDF version http://www.bis.org/publ/cgfs51.pdf March 2014 Bank for International Settlements: CGFS Publications 51 G15 F36 G2 http://www.bis.org/publ/cgfs46.htm Abstract of "The macrofinancial implications of alternative configurations for access to central counterparties in OTC derivatives markets", November 2011 The macrofinancial implications of alternative configurations for access to central counterparties in OTC derivatives markets 2011-11-17T20:00:00Z The G-20 leaders' commitment that all standardised over-the-counter (OTC) derivatives will be centrally cleared by the end of 2012 is intended to increase the safety and resilience of the global financial system. Achieving these objectives depends importantly on the arrangements through which market participants obtain access to central clearing. Such arrangements could include increased use of existing global CCPs; the establishment of domestic CCPs in a number of jurisdictions; and the possible construction of links between CCPs. This report analyses the potential implications for financial stability and efficiency of these alternative access arrangements to CCPs. The macrofinancial implications of alternative configurations for access to central counterparties in OTC derivatives markets 2011-11-17T20:00:00Z BIS Central Counterparties OTC derivatives domestic ccps ccp links PDF version http://www.bis.org/publ/cgfs46.pdf November 2011 Bank for International Settlements: CGFS Publications 46 G15 G18 G21 G28 http://www.bis.org/publ/cgfs37.htm Abstract of "The functioning and resilience of cross-border funding markets", March 2010 The functioning and resilience of cross-border funding markets 2010-03-24T10:00:00Z The functioning and resilience of cross-border funding markets 2010-03-24T10:00:00Z BIS financial crises financial markets financial crisis PDF version http://www.bis.org/publ/cgfs37.pdf March 2010 Bank for International Settlements: CGFS Publications 37 G15 G01 E58 F31 http://www.bis.org/publ/cgfs36.htm Abstract of "The role of margin requirements and haircuts in procyclicality", March 2010 The role of margin requirements and haircuts in procyclicality 2010-03-23T15:11:00Z The role of margin requirements and haircuts in procyclicality 2010-03-23T15:11:00Z BIS procyclicality effect procyclicality risk-taking channel PDF version http://www.bis.org/publ/cgfs36.pdf March 2010 Bank for International Settlements: CGFS Publications 36 G15 G21 G28 G32 http://www.bis.org/publ/cgfs31.htm Abstract of 'Central bank operations in response to the financial turmoil', July 2008 Central bank operations in response to the financial turmoil 2008-07-04T07:00:00Z Central bank operations in response to the financial turmoil 2008-07-04T07:00:00Z BIS financial turmoil standing facilities central bank operational frameworks open market operations interbank market money market PDF version http://www.bis.org/publ/cgfs31.pdf July 2008 Bank for International Settlements: CGFS Publications 31 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/cgfs23.htm Introduction of CGFS publication 'The role of ratings in structured finance: issues and implications', January 2005. The role of ratings in structured finance: issues and implications 2005-01-01T00:00:00Z The role of ratings in structured finance: issues and implications 2005-01-01T00:00:00Z BIS Credit risk transfer, derivatives, market infrastructure PDF version http://www.bis.org/publ/cgfs23.pdf January 2005 Bank for International Settlements: CGFS Publications 23 http://www.bis.org/publ/cgfs21.htm Executive summary of 'Incentive structures in institutional asset management and their implications for financial markets', March 2003. Incentive structures in institutional asset management and their implications for financial markets 2003-03-30T22:00:00Z Incentive structures in institutional asset management and their implications for financial markets 2003-03-30T22:00:00Z BIS Market infrastructure PDF version http://www.bis.org/publ/cgfs21.pdf March 2003 Bank for International Settlements: CGFS Publications 21 http://www.bis.org/publ/cgfs20.htm Executive summary of CGFS publication 'Credit risk transfer', January 2003. Credit risk transfer 2003-01-28T23:00:00Z Credit risk transfer 2003-01-28T23:00:00Z BIS Credit risk transfer, derivatives, market infrastructure PDF version http://www.bis.org/publ/cgfs20.pdf January 2003 Bank for International Settlements: CGFS Publications 20 http://www.bis.org/publ/cgfs19.htm Executive summary of CGFS publication 'IT innovations and financing patterns: implications for the financial system', February 2002. Innovation in information technology (IT) has changed the way economic activity is carried out and organised. The eventual macroeconomic outcome of these changes and the macroeconomic profile of an IT-based economy are still uncertain. IT innovations and financing patterns: implications for the financial system 2002-02-19T23:00:00Z IT innovations and financing patterns: implications for the financial system 2002-02-19T23:00:00Z BIS Market infrastructure PDF version http://www.bis.org/publ/cgfs19.pdf February 2002 Bank for International Settlements: CGFS Publications 19 http://www.bis.org/publ/cgfs17.htm Executive summary of CGFS publication 'Collateral in wholesale financial markets: recent trends, risk management and market dynamics', March 2001. The use of collateral has become one of the most important and widespread risk mitigation techniques in wholesale financial markets Collateral in wholesale financial markets: recent trends, risk management and market dynamics 2001-03-06T23:00:00Z Collateral in wholesale financial markets: recent trends, risk management and market dynamics 2001-03-06T23:00:00Z BIS Risk management; market infrastructure PDF version http://www.bis.org/publ/cgfs17.pdf March 2001 Bank for International Settlements: CGFS Publications 17 http://www.bis.org/publ/cgfs16.htm Preface of CGFS publication 'The implications of electronic trading in financial markets', January 2001. Recent projects by CGFS working groups have concerned the functioning of international interbank markets, financial derivatives and the systemic consequences of standard risk management practices. The implications of electronic trading in financial markets 2001-01-14T23:00:00Z The implications of electronic trading in financial markets 2001-01-14T23:00:00Z BIS Market infrastructure PDF version http://www.bis.org/publ/cgfs16.pdf January 2001 Bank for International Settlements: CGFS Publications 16 http://www.bis.org/publ/cgfs13.htm Introduction of CGFS publication 'Recommendations for the design of liquid markets', October 1999. This note presents a list of general principles and more specific policy recommendations for the creation of deep and liquid government securities markets Recommendations for the design of liquid markets 1999-10-10T22:00:00Z Recommendations for the design of liquid markets 1999-10-10T22:00:00Z BIS Market liquidity, market infrastructure PDF version http://www.bis.org/publ/cgfs13.pdf October 1999 Bank for International Settlements: CGFS Publications 13 http://www.bis.org/publ/cgfs11.htm Abstract of CGFS publication 'Market Liquidity: Research Findings and Selected Policy Implications', May 1999. This report is the result of a coordinated research effort by the central banks of Canada, Italy, Japan, the United Kingdom and the United States and the Bank for International Settlements on the determinants of market liquidity and on how central banks and other public authorities influence these determinants. Market Liquidity: Research Findings and Selected Policy Implications 1999-04-30T22:00:00Z Market Liquidity: Research Findings and Selected Policy Implications 1999-04-30T22:00:00Z BIS Market liquidity, market infrastructure May 1999 Bank for International Settlements: CGFS Publications 11