Other publications - last 5 years

This section includes miscellaneous reports that were not written for one of the BIS's publications series (eg BIS Papers, Working Papers) or by a specific BIS Committee.

Date	Titles
Dec 2016	Economic resilience: a financial perspective One aspect of resilience that is often underappreciated concerns financial imbalances. A resilient economy absorbs exogenous shocks and recovers quickly. But resilience also hinges on policies that contain the build-up of financial imbalances and mitigate the fallout of their correction, ie policies that tackle the financial cycle head on.
Aug 2016	Elements of effective macroprudential policies - lessons from international experience Experience with macroprudential policy is growing. A large number of countries have put in place dedicated institutional arrangements. Progress is being made also with the design and implementation of macroprudential tools, and an increasing body of empirical research is available that evaluates the effectiveness of macroprudential policy.
Aug 2016	International capital flows and financial vulnerabilities in emerging market economies: analysis and data gaps This note analyses the exposure of emerging market economies to international capital flow risks, paying particular attention to vulnerabilities in the non-financial corporate sector. It stresses the importance of studying the stocks of debt, gross rather than net flows, borrowers' nationality rather than location and the currency denomination of debt. by Nikola Tarashev, Stefan Avdjiev and Benjamin H Cohen
Nov 2015	Assessing the economic costs and benefits of TLAC implementation This report presents the work of the experts' group that analysed the economic impact of the implementation of total loss absorbing capacity (TLAC) to be applied to global systemically important banks (G-SIBs). It summarises the assessment of impact on individual banks subjected to the requirement (microeconomic impact), as well as the costs and benefits to the economy as a whole (macroeconomic impact).
May 2015	Handbook on Securities Statistics The joint handbook assists the production of internationally comparable securities statistics. It covers the conceptual framework for statistics on debt and equity securities. Set of detailed presentation tables using the concepts and guidelines.
Feb 2015	Monetary spillovers? Boom and bust? Currency wars? The international monetary system strikes back In recent years, the global financial system has witnessed several episodes of instability due to the external repercussions of monetary policy measures by major countries, the development of financial cycles characterised by excessive credit creation followed by sudden stops, and large movements in the exchange rates of both advanced and emerging market economies. The standard therapy for dealing with these disturbances has been a mix of ... by Fabrizio Saccomanni
Oct 2014	Regulatory reform of over-the-counter derivatives: an assessment of incentives to clear centrally This paper analyses whether the post-crisis regulatory reforms developed by global standard-setting bodies create appropriate incentives for different types of market participants to centrally clear OTC derivatives contracts.
Aug 2013	Macroeconomic impact assessment of OTC derivatives regulatory reforms In its report, the MAGD focuses on the effects of (i) mandatory central clearing of standardised OTC derivatives, (ii) margin requirements for non-centrally-cleared OTC derivatives and (iii) bank capital requirements for derivatives-related exposures.
Mar 2013	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.
Feb 2013	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 ... by Jaime Caruana and Adrian Van Rixtel