Other publications - 2005 to 2009

Date	Titles
Nov 2009	Guidance to Assess the Systemic Importance of Financial Institutions, Markets and Instruments: Initial Considerations Prepared by staff of the International Monetary Fund, the Bank for International Settlements and the Financial Stability Board and submitted to G20 Finance Ministers and Governors. The report and background paper respond to a request made by the G20 Leaders in April 2009 to develop guidance for national authorities to assess the systemic importance of financial institutions, markets and instruments. The report outlines conceptual and analytical approaches to the assessment of systemic importance and discusses a possible form for general guidelines.
Sep 2009	Integrating financial stability: new models for a new challenge This essay was prepared for the joint BIS-ECB Workshop on "Monetary policy and financial stability", Basel, Switzerland, 10-11 September 2009. In this essay, we begin with a brief review of the pre-crisis consensus that provided the basis for stabilisation policy as it has been conducted since around 1980. Our main conclusion is obvious: we need to build economic models that integrate the financial sector in a serious way, accounting for the role of intermediaries with all of their linkages, both with each other and with the real economy. And, most importantly, these models must ... by Stephen G Cecchetti, Piti Disyatat and Marion Kohler
Aug 2009	Financial Crises and Economic Activity This paper was prepared for the Federal Reserve Bank of Kansas City's symposium at Jackson Hole, Wyoming, August 2009. An updated version of this paper has been posted on 14 September 2009. This paper studies the length, depth and output costs of a sample of 40 systemic banking crises in 35 countries since 1980 to assess the likely real impact of the current crisis. Most, but not all, systemic banking crises in our sample coincide with ... by Stephen G Cecchetti, Marion Kohler and Christian Upper
Jul 2009	Guide to the international financial statistics, July 2009 This document is the revised version of BIS Papers No 14, Guide to the international financial statistics, February 2003. This guide is structured around the three main areas of the BIS international financial statistics: the international banking statistics (Part II); the securities statistics (Part III); and the derivatives and foreign exchange statistics (Parts IV and V). It also provides a description of the joint BIS-IMF-OECD-World Bank statistics on external debt (Joint External Debt Hub data) for which the BIS is a main contributor (Part VI). The guide provides a detailed description of the sources, compilation, transformation and publication of the data. Two separate chapters on the quality and the uses of the statistics (Parts VII and VIII) follow the description of the statistics. A more detailed description of the BIS international banking statistics and their underlying methodology is provided in separate guides.
May 2009	Issues in the Governance of Central Banks This report by the Central Bank Governance Group presents information intended to help decision-makers set up governance arrangements that are most suitable for their own circumstances. The report draws on a large body of information on the design and operation of central banks that the BIS has brought together since it initiated work on central bank governance in the early 1990s. Also available in: Spanish French
Sep 2005	Ageing and pension system reform: implications for financial markets and economic policies The principal conclusions and recommendations are as follows: changes under way in public and private pension schemes may increase significantly the influence of retirement saving and related capital flows in financial markets; governments could help to facilitate the development and expansion of markets for undersupplied financial instruments that will be useful for retirement savings and the provision of pension benefits; regulatory and supervisory developments should aim to influence and support the trend towards more rigorous risk management, greater transparency, and better governance at private pension funds, also by ensuring consistency between funding and prudential requirements and accounting standards; ...