News archive - 2008

23 December 2008 Working Papers:
Catching-up and inflation in transition economies: the Balassa-Samuelson effect revisited
22 December 2008 Working Papers:
Monetary policy implementation: Misconceptions and their consequences
17 December 2008 Working Papers:
Capital regulation, risk-taking and monetary policy: a missing link in the transmission mechanism?
17 December 2008 Working Papers:
Interpreting deviations from covered interest parity during the financial market turmoil of 2007-08
17 December 2008 International Journal of Central Banking (IJCB), December 2008
In this issue:
1) Modeling Short-Term Interest Rate Spreads in the Euro Money Market,   2)  Monetary Policy under Uncertainty about the Nature of Asset-Price Shocks ,   3) Inflation: Do Expectations Trump the Gap?,   4) Leadership in Groups: A Monetary Policy Experiment,   5) Inflation Tareting and Target Instability,   6) Central Bank Policy Rate Guidance and Financial Market Functioning
8 December 2008 Publication and press release:
BIS Quarterly Review December 2008 - International banking and financial market developments
In this issue: 1)  Developments in repo markets during the financial turmoil,   2)  Commodity prices and inflation dynamics,   3)  Bank health and lending to emerging markets,   4)  How many in negative equity? The role of mortgage contract characteristics
2 December 2008 Basel Committee publication and press release:
External audit quality and banking supervision
2 December 2008 Working Papers:
Private matters
28 November 2008 Basel Committee publication and press release:
Supervisory guidance for assessing banks' financial instrument fair value practices
25 November 2008 CPSS publication: Statistics on payment and settlement systems in selected countries - Figures for 2007 (preliminary release)
21 November 2008 Press release:
Jaime Caruana appointed as BIS General Manager
20 November 2008 Press release:
Comprehensive strategy to address the lessons of the banking crisis announced by the Basel Committee
19 November 2008 BIS speeches:
Már Gudmundsson: How might the current financial crisis shape financial sector regulation and structure?
17 November 2008 Working Papers:
External support and bank behaviour in the international syndicated loan market
17 November 2008 Speech by Nout Wellink: The Importance of Banking Supervision in Financial Stability
13 November 2008 Working Papers:
Price discovery from cross-currency and FX swaps: a structural analysis
13 November 2008 Publication and press release:
OTC derivatives market activity in the first half of 2008
4 November 2008 BIS Papers:
Monetary and financial stability implications of capital flows in Latin America and the Caribbean
24 October 2008 Working Papers:
Determinants of house prices in nine Asia-Pacific economies
23 October 2008 Provisional international banking statistics at end-June 2008
15 October 2008 FSI Publication:
FSI Award 2008 Winning Paper Stress Testing Credit Risk: Comparison of the Czech Republic and Germany
8 October 2008 BIS Papers:
Regional financial integration in Asia: present and future
30 September 2008 Press release:
Zeti Akhtar Aziz appointed Chair of the BIS Asian Consultative Council
29 September 2008 Working Papers:
Effectiveness of monetary policy communication in Indonesia and Thailand
25 September 2008 Basel Committee publication and press release:
Principles for Sound Liquidity Risk Management and Supervision
25 September 2008 Speech by Nout Wellink: Responding to Uncertainty
24 September 2008 Working Papers:
The Asian crisis: what did local stock markets expect?
18 September 2008 Working Papers:
The housing meltdown: Why did it happen in the United States?
Estimating hedge fund leverage
2 September 2008 Working Papers:
DSGE models and central banks
1 September 2008 International Journal of Central Banking (IJCB), September 2008
In this issue:
1) Monetary Policy in a Monetary Union: What Role for Regional Information?,   2)  Capital Requirements and Bank Behavior in the Early 1990: Cross-Country Evidence ,   3) Inflation Thresholds and Relative Price Variability: Evidence from U.S. Cities,   4) Incomplete Interest Rate Pass-Through and Optimal Monetary Policy,   5) The Role of the Chairman in Setting Monetary Policy: Individualistic vs. Autocratically Collegial MPCs,   6) The Expected Interest Rate Path: Alignment of Expectations vs. Creative Opacity
1 September 2008 Publication and press release:
BIS Quarterly Review September 2008 - International banking and financial market developments
In this issue: 1) The inflation risk premium in the term structure of interest rates,   2) The development of money markets in Asia,   3) Reducing foreign exchange settlement risk,   4) The ABX: how do the markets price subprime mortgage risk?
29 August 2008 Basel Committee publication and press release:
Range of practices and issues in economic capital modelling
26 August 2008 Basel Committee publication:
Implementation of the compliance principles
21 August 2008 IFC Bulletin:

The IFC's contribution to the 56th ISI Session
31 July 2008 Joint Forum publication and press release:
Credit Risk Transfer Developments from 2005 to 2007
23 July 2008 Provisional international banking statistics at end-March 2008
22 July 2008 Basel Committee publications and press release:
Guidelines for Computing Capital for Incremental Risk in the Trading Book and Proposed revisions to the Basel II market risk framework
17 July 2008 BIS Papers:
Financial system and macroeconomic resilience
17 July 2008 Working Papers:
Innovations in credit risk transfer: implications for financial stability
Liquidity and financial cycles
Financial system: shock absorber or amplifier?
17 July 2008 Basel Committee publication:
Due diligence and transparency regarding cover payment messages related to cross-border wire transfers
9 July 2008 BIS speeches:
Hervé Hannoun: The 10th anniversary of the BIS Representative Office for Asia and the Pacific
8 July 2008 BIS speeches:
William R White: International governance for the prevention and management of financial crises
4 July 2008 CGFS publications and press release
Private equity and leveraged finance markets
Central bank operations in response to the financial turmoil
Ratings in structured finance: what went wrong and what can be done to address shortcomings?
30 June 2008 Press release:
BIS General Manager to be on leave from 1 July 2008
30 June 2008 BIS speeches:
Malcolm D Knight: General Manager's speech at the Annual General Meeting
30 June 2008 78th Annual Report 2007/2008
30 June 2008 Annual General Meeting
29 June 2008 Per Jacobsson Foundation Lecture, 2008:
The Approach to Macroeconomic Management: How it Has Evolved
23 June 2008 BIS speeches:
Malcolm D Knight: Financial deleveraging, inflation and risks to global growth
20 June 2008 Irving Fisher Committee Working Papers:
A macro-micro approach to compiling statistics
20 June 2008 Press release:
BIS General Manager to step down
19 June 2008 Working Papers:
Implementing monetary policy in the 2000s: operating procedures in Asia and beyond
Speculative attacks, Private Signals and Intertemporal Trade-offs
17 June 2008

BIS Review - Speeches and articles by senior central bankers:
Glenn Stevens: Economic conditions;
Caleb M Fundanga: Growing investor confidence in Zambia's economy;
Lucas Papademos: Economic outlook in the euro area;
Irma Rosenberg: The monetary policy decision-making process;
Lorenzo Bini Smaghi: Supervision and central banking - improving the exchange of information;
Paul Tucker: A protracted "peacetime"

17 June 2008 Basel Committee publication and press release:
Principles for Sound Liquidity Risk Management and Supervision
12 June 2008 Basel Committee publication:
Fair value measurement and modelling: An assessment of challenges and lessons learned from the market stress
9 June 2008 Working Papers:
The evolution of trading activity in Asian foreign exchange markets
9 June 2008 Publication and press release:
BIS Quarterly Review June 2008 - International banking and financial market developments
In this issue: 1) International banking activity amidst the turmoil,   2) Managing international reserves: how does diversification affect financial costs?,   3) Credit derivatives and structured credit: the nascent markets of Asia and the Pacific,   4) Asian banks and the international interbank market
4 June 2008 CPSS publication and press release:
The interdependencies of payment and settlement systems
3 June 2008 International Journal of Central Banking (IJCB), June 2008
In this issue:
1) Inflation Forecasts and the New Keynesian Phillips Curve,   2) Optimal Monetary Policy in an Estimated DSGE Model of the Euro Area with Cross-Country Heterogeneity,   3) Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate,   4) Specification and Calibration Errors in Measures of Portfolio Credit Risk: The Case of the ASRF Model,   5) The Impact of Central Bank Announcements on Asset Prices in Real Time,   6) The Danger of Inflating Expectations of Macroeconomic Stability: Heuristic Switching in an Overlapping-Generations Monetary Model
2 June 2008 BIS speeches:
Malcolm D Knight: Securitisation: was the tail wagging the dog?
23 May 2008 BIS speeches:
Hervé Hannoun: Policy lessons from the recent financial market turmoil
22 May 2008 BIS Papers:
FX reserve management: trends and challenges
22 May 2008 Publication and press release:
The global OTC derivatives market at end-December 2007
20 May 2008 BIS speeches:
Malcolm D Knight: The euro as a catalyst for global financial market deepening
13 May 2008 CPSS publication and press release:
Progress in reducing foreign exchange settlement risk
5 May 2008 Press release:
BIS establishes Consultative Council for the Americas
2 May 2008 BIS speeches:
Malcolm D Knight: Weaknesses revealed by the market turmoil: where do we go from here?
30 April 2008 Joint Forum publication and press release:
Customer suitability in the retail sale of financial products and services
30 April 2008 Provisional international banking statistics at end-December 2007
25 April 2008 Joint Forum publication and press release:
Cross-sectoral review of group-wide identification and management of risk concentrations
23 April 2008 Markets Committee publication:
Monetary policy frameworks and central bank market operations
23 April 2008 BIS speeches:
Malcolm D Knight: Some reflections on the future of the originate-to-distribute model in the context of the current financial turmoil
18 April 2008 Working Papers:
The financial turmoil of 2007-?: a preliminary assessment and some policy considerations
16 April 2008 Press release:
Basel Committee on Banking Supervision announces steps to strengthen the resilience of the banking system
12 April 2008 Press release:
Financial Stability Forum recommends actions to enhance market and institutional resilience
9 April 2008 BIS Papers:
Financial market developments and their implications for monetary policy
7 April 2008 Publication:
Financial market developments in Africa: new challenges for central banks?
3 April 2008 BIS speeches:
Hervé Hannoun: Financial deepening without financial excesses
1 April 2008 Joint Forum publication and press release:
Credit risk transfer - developments from 2005 to 2007
29 March 2008 Press release:
Financial Stability Forum meets in Rome
26 March 2008 BIS speeches:
William R White: Past financial crises, the current financial turmoil, and the need for a new macrofinancial stability framework
25 March 2008 Working Papers:
Globalisation and the determinants of domestic inflation
17 March 2008 CPSS publication: Statistics on payment and settlement systems in selected countries - Figures for 2006
14 March 2008 BIS Papers:
FX reserve management: elements of a framework
10 March 2008 Press release:
Stephen G Cecchetti appointed Economic Adviser, Head of Monetary and Economic Department
6 March 2008 International Journal of Central Banking (IJCB), March 2008
In this issue:
1) An Empirical Evaluation of Structural Credit-Risk Models,   2) Inflation Targets as Focal Points,   3) Transaction Pricing and the Adoption of Electronic Payments: A Cross-Country Comparison,   4) Using Securities Market Information for Bank Supervisory Monitoring ,   5) Capital Regulation and Banks' Financial Decisions,   6) Preference Heterogeneity in Monetary Policy Committees
3 March 2008 Working Papers:
What drives the current account in commodity exporting countries? The cases of Chile and New Zealand
Tips from TIPS: the informational content of Treasury Inflation-Protected Security prices
Frequency of observation and the estimation of integrated volatiliy in deep and liquid financial markets
29 February 2008 BIS speeches:
Malcolm D Knight: Now you see it, now you don't; the nature of risk and the current financial turmoil
28 February 2008 BIS Papers:
Monetary policy decisions: preparing the inputs and communicating the outcomes
26 February 2008 BIS Papers:
New financing trends in Latin America: a bumpy road towards stability
21 February 2008 Press release:
Liquidity risk: management and supervisory challenges
12 February 2008 Working Papers:
Central bank policy rate guidance and financial market functioning
9 February 2008 FSF interim report to G7 ministers and governors on financial system resilience
5 February 2008 BIS Papers:
Transmission mechanisms for monetary policy in emerging market economies
4 February 2008 Working Papers:
Understanding Asian equity flows, market returns and exchange rates
Global monitoring with the BIS international banking statistics
Asset prices and monetary policy: booms and fat tails in East Asia
1 February 2008 BIS speeches:
Malcolm D Knight: Transparency and communication in monetary policy
31 January 2008 Provisional international banking statistics at end-September 2007
25 January 2008 Irving Fisher Committee Working Papers:
Cooperation between Central Banks and National Statistical Institutes: the cases of Australia, Canada, and the Netherlands
22 January 2008 Press release:
Financial Stability Forum Chairman welcomes hedge fund manager initiative on best practice standards
16 January 2008 Working Papers:
What can (macro-)prudential policy do to support monetary policy?
7 January 2008 Working Papers:
Housing finance agencies in Asia