Other publications - 1997 to 1999

Date Titles
Oct 1998

The widespread liberalisation of financial markets in the 1980s has increased the interest of central banks in asset price developments in two ways. First, as the use of intermediate targets has become unreliable in many countries, central banks have sought other indicators to guide policy actions. A natural place to look has been various asset markets. Second, the greater role of asset prices in the monetary transmission mechanism, combined with their sustained volatility, has led to an increased concern that large changes in asset prices might disrupt economic activity and price stability as well as lead to financial fragility. This volume collects the views of several prominent scholars and central bankers on whether and how asset price developments can be incorporated in the design of monetary policy. Related questions are: what asset price ...

Oct 1998

In response to the crisis in Asia, Finance Ministers and Central Bank Governors from a number of systemically significant economies met in Washington, D.C. in April 1998 to examine issues related to the stability of the international financial system and the effective functioning of global capital markets. In their discussions, Ministers and Governors stressed the importance of strengthening the international financial system through action in three key areas: enhancing transparency and accountability; strengthening domestic financial systems; and managing international financial crises. Three working groups were formed to contribute to the international dialogue on how to proceed in these key areas. A strength of these working groups was the ...

Sep 1998

At the London Conference on Nazi Gold, organised by the UK Foreign & Commonwealth Office on 2nd-4th December 1997, it was decided to compile an International Guide to archival sources on Nazi gold and related issues. At a planning seminar for the Washington Conference on Holocaust Era Assets, held in Washington on 29th June 1998, the proposal was adopted that each contribution to the International Guide should be published electronically on national or institutional Web sites. In conformity with this proposal, the Bank for International Settlements has prepared the present finding aid to sources in the BIS Historical Archive on the Bank's wartime activities in general and on the Nazi gold issue in particular.

Apr 1998

In response to an initiative at the Denver Summit in June 1997, representatives from the central banks and the ministries of finance of the Group of Ten countries have carried out an assessment of the macroeconomic and financial implications of ageing populations. The initiative was prompted by the recognition that the prospective increase in the share of the elderly in the population could have significant repercussions for economies and financial markets across the world. The purpose of this work is to distil the principal conclusions from the extensive factual and analytical material provided by national authorities and international organisations such as the OECD and the IMF. The major conclusions of this study are the following: ...

Sep 1997

Summary and conclusions: In June 1996, the G-7 Heads of State called for a cooperative study to investigate the implications of recent technological advances that make possible the creation of sophisticated methods for making retail electronic payments. Consistent with this objective, the Working Party was asked to produce a report that developed a broader understanding of the policy issues facing governments as a result of electronic money and to identify any issues that could benefit from additional international cooperation. Building on the extensive body of previous analysis and work on this subject, the Working Party concentrated on three broad policy areas: consumer issues, law enforcement issues, and supervisory issues. The Working Party also ...

Sep 1997

At the London Conference on Nazi Gold, organised by the UK Foreign & Commonwealth Office on 2nd-4th December 1997, it was decided to compile an International Guide to archival sources on Nazi gold and related issues. At a planning seminar for the Washington Conference on Holocaust Era Assets, held in Washington on 29th June 1998, the proposal was adopted that each contribution to the International Guide should be published electronically on national or institutional Web sites. In conformity with this proposal, the Bank for International Settlements has prepared the present finding aid to sources in the BIS Historical Archive on the Bank's wartime activities in general and on the Nazi gold issue in particular.

Aug 1997

Following an invitation to the Ministers and Governors of the Group of Ten by the Heads of State and Government of the Group of Seven in Halifax in June 1995, the Deputies of the Group of Ten established a Working Party to consider the complex set of issues arising with respect to the orderly resolution of sovereign liquidity crises. While taking a comprehensive view of the problem, the Working Party focused its attention on those forms of debt to private creditors, such as internationally traded securities, that have increased in importance in the new financial environment but that in the past have usually been shielded from payments suspensions or restructurings. In carrying out its work, the Working Party recognised that the highest priority needs to be given to ...