Global liquidity indicators
Updated 6 March 2016
The term global liquidity is used by the BIS to mean the ease of financing in global financial markets. Credit is among the key indicators of global liquidity and the focus of the global liquidity indicators estimated by the BIS. These indicators constitute part of the BIS's support for the G20's activities.
Research and analysis
Global liquidity conditions are analysed in the Highlights section of the March and September issues of the BIS Quarterly Review.
The BIS global liquidity indicators build on work by the Committee on the Global Financial System, which in 2011 published a report on global liquidity.
See our video on "Global liquidity indicators ‒ what they are and how to find them".
The following publications provide further information on global liquidity issues:
- Past BIS commentaries about global liquidity conditions, February 2015, October 2014, March 2014, October 2013
- Borio, C (2010): "Ten propositions about liquidity crises", CESifo Economic Studies, vol. 56(1), pp 70-95. Also available as BIS Working Paper, no 293 , November 2009.
- Borio, C, R McCauley and P McGuire (2011): "Global credit and domestic credit booms", BIS Quarterly Review, September, pp 43-57.
- Caruana, J (2012): "Assessing global liquidity from a financial stability perspective", speech at the 48th SEACEN Governors' Conference and High-Level Seminar, Ulaanbaatar, November.
- Caruana, J (2013): "Global liquidity: where do we stand?", speech at the Bank of Korea Annual Conference, Seoul, June.
- Caruana, J (2013): "Ebbing global liquidity and monetary policy interactions", speech at the Central Bank of Chile Fifth Summit Meeting of Central Banks, Santiago, November.
- Caruana, J (2014): "Global liquidity: where it stands, and why it matters", IMFS Distinguished Lecture at the Goethe University, Frankfurt, Germany, March.
- Caruana, J (2016): "Credit, commodities and currencies", lecture at the London School of Economics and Political Science, London, February.
- Domanski, D, I Fender and P McGuire (2011): "Assessing global liquidity", BIS Quarterly Review, December, pp 57-71.
- Eickmeier, S, L Gambacorta and B Hofmann (2013): "Understanding global liquidity", BIS Working Paper, no 402, February.
- Shin, H S (2013): "The second phase of global liquidity and its impact on emerging economies", keynote address at Federal Reserve Bank of San Francisco Asia Economic Policy Conference, November.
For queries regarding global liquidity indicators, please write to statistics$bis.org (where "$" denotes "@").