BIS research papers

The Great Financial Crisis: setting priorities for new statistics

The liquidity consequences of the euro area sovereign debt crisis

Recognising the cost of credit protection purchased

Basel III regulatory consistency assessment (Level 2). Assessment of Basel III regulations - Singapore

Towards better reference rate practices: a central bank perspective

Report by a Working Group established by the BIS Economic Consultative Committee (ECC) and chaired by Hiroshi Nakaso, Assistant Governor, Bank of Japan. The report reviews issues in relation to the use and production of reference interest rates from the perspective of central banks. The Working Group (WG) identifies an urgent need to strengthen the reliability and robustness of existing reference rates and a strong case for enhancing reference rate choice. Both call for prompt action by the private and the public sector.

Do economies stall? The international evidence

Information Flows in Dark Markets: Dissecting Customer Currency Trades

Benign neglect of the long-term interest rate

Margin requirements for non-centrally cleared derivatives - Second consultative document

International financial markets and bank funding in the euro area: dynamics and participants

This article investigates the development of bank funding in the euro area in recent years, analysing how euro area funding markets were severely disrupted by adverse feedback effects between the weaknesses of sovereigns and banks. These were reflected, for example, in important adjustments in funding provided by international banks and US money market funds and in a growing recourse to secured instruments such as covered bonds. The article concludes that funding structures that seem stable in normal times can ...

Understanding Global Liquidity

The Proposed Revised Ratings-Based Approach