This website requires javascript for proper use
The Bank for International Settlements
  •  Home
    • About

      About BIS

      The BIS's mission is to support central banks' pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.

      Read more about the BIS

      • Overview
      • Governance and organisation
        • Overview
        • BIS member central banks
        • Board of Directors
        • Management of the BIS
        • Financial information
        • Ethics and conduct, risk management and internal audit
        • Transparency
      • BIS Innovation Hub
      • Representative Offices
        • About the Representative Offices
        • Office for the Americas
        • Office for Asia and the Pacific
      • Financial Stability Institute
        • About the FSI
        • Publications
        • Outreach events
        • FSI Connect
        • Speeches
        • FSI fellowship programme
      • Annual General Meeting
      • Annual Report
      • The Basel Process
        • Overview
        • Meetings
      • History
        • Overview
        • Timelines
        • Archive collections
        • BIS 90 Years exhibition
      • Careers at the BIS
        • Careers at the BIS
        • What we do
        • Early careers
        • How you can contribute
        • Life in and around the BIS
        • What we offer
        • Our people
        • Our values
          • Diversity & inclusion
          • Sustainability & corporate responsibility
          • Continuous improvement & innovation
          • Excellence & integrity
        • Current vacancies
      • Legal information
        • Overview
        • Administrative Tribunal of the BIS (ATBIS)
        • Hague Arbitral Tribunal
        • Fraudulent schemes
        • Shares withdrawal
        • For suppliers
        • Terms and conditions
        • Privacy notice
        • Cookies notice
      • Contact
    • Research & publications

      Research & publications

      BIS research focuses on policy issues of core interest to the central bank and financial supervisory community.

      Read more about our research & publications

      • Research at the BIS
      • Trending topics
        • Overview
        • Inflation
        • Innovation and fintech
        • Coronavirus (Covid-19)
        • Climate change & green finance
      • BIS authors
      • Annual Economic Report
      • Quarterly Review
        • QR all issues
        • QR special features
      • BIS Bulletins
      • BIS Papers
      • Working Papers
      • FSI publications
      • Committee publications
        • About committee publications
        • Basel Committee on Banking Supervision
        • Committee on the Global Financial System
        • Committee on Payments and Market Infrastructures
        • Irving Fisher Committee on Central Bank Statistics
        • Markets Committee
      • Conferences
      • Asian Office research
        • About Asian Office research
        • Research papers
        • Conferences
      • Americas Office research
        • About Americas Office research
        • Research papers
        • Conferences
        • Research networks
        • Working group on financial stability
        • Study group on markets and CB operations
        • CGIDE task force on enabling open finance
        • Consultative group on risk management
      • Other publications
      • Discontinued papers series
    • Innovation

      Innovation at BIS

      Fintech refers to technology-enabled innovation in financial services. This technological sea change is transforming the financial sector and the wider economy, affecting all aspects of our work - from payments to monetary policy to financial regulation.

      Learn more about Innovation and fintech

      • About innovation
      • BIS Innovation Hub
        • About the BIS Innovation Hub
        • Hub Centres
        • Themes
        • Projects
        • Publications
        • Press releases
        • Speeches, events & TechSprint
      • BIS Open Tech
    • Committees & associations

      Committees & associations

      The BIS hosts nine international organisations engaged in standard setting and the pursuit of financial stability through the Basel Process.


      Read more about BIS committees & associations

      • About committees and associations
      • Basel Committee on Banking Supervision
        • Overview
        • About the BCBS
          • Overview
          • Charter
          • Organisation and governance
          • Membership
          • Events
          • Work programme
          • Groups
          • Policy development and implementation
          • History
        • Basel III
        • Implementation and evaluation of the Basel standards
          • Overview
          • RCAP: role, remit and methodology
          • RCAP on timeliness: monitoring dashboard
          • RCAP on consistency: jurisdictional assessments
          • RCAP on consistency: thematic assessments
          • Evaluation
          • Other activities related to implementation and evaluation
        • Dashboards
        • Basel Framework
        • CCyB and G-SIB buffer
        • Publications
        • Press releases
        • Speeches
        • Comments by BCBS
        • Contact BCBS
      • Committee on the Global Financial System
        • About the CGFS
        • Fact sheet
        • Mandate
        • Publications
      • Committee on Payments and Market Infrastructures
        • Overview
        • About the CPMI
          • Overview
          • Charter
          • Organisation and governance
          • Membership
          • Work programme
          • History
        • Press releases
        • Publications
        • Principles for Financial Market Infrastructures (PFMI)
        • Monitoring implementation of the PFMI
        • Cross-border payments programme
          • Overview
          • Programme
          • Publications
          • Engagements and events
        • Payment, clearing and settlement in various countries
        • Speeches
        • Statistics
        • Glossary
      • Markets Committee
        • About the Markets Committee
        • FX Global Code
          • About FX Global Code
          • FX Working Group
          • Central Bank Register
        • Compendium
          • Introduction
          • Currency area overviews
          • Elements
          • Comparison
      • Central Bank Governance Forum
      • Irving Fisher Committee
        • About the IFC
        • Fact sheet
        • Publications
        • Members
        • Events
        • Historical Monetary and Financial Statistics (HMFS)
        • Knowledge centre
        • History
        • Contact the IFC
      • Other BIS-hosted organisations
    • Central bank hub

      Central bank hub

      The BIS fosters dialogue, collaboration and knowledge-sharing among central banks and other authorities that are responsible for promoting financial stability.

      Read more about our central bank hub

      • Overview
      • Central bank and monetary authority websites
      • Central bankers' speeches
      • Research hub
        • Overview
        • Recent additions
        • by Institution
        • Research Hub email alert
      • International Journal of Central Banking
      • Regulatory authorities and supervisory agencies
      • Central Bank Register
    • Statistics

      Statistics

      BIS statistics on the international financial system shed light on issues related to global financial stability.

      Read more about our statistics

      • About
      • Tools and support
        • Statistics help
        • Release calendar
        • BIS Statistics Explorer
        • BIS Statistics Warehouse
        • FAQs
        • Tutorials
        • SDMX
        • SDMX API
        • Glossary
      • International banking
        • About international banking statistics
        • Locational statistics
        • Consolidated statistics
      • Debt securities
        • About debt securities statistics
        • Debt securities statistics
      • Credit
        • About credit statistics
        • Credit to the non-financial sector
        • Credit-to-GDP gaps
        • Debt service ratios
        • External debt (JEDH)
      • Global liquidity
        • About global liquidity indicators
        • Global liquidity data
      • Derivatives
        • About derivatives statistics
        • Exchange-traded derivatives statistics
        • OTC derivatives statistics
        • Triennial Survey
      • Foreign exchange
        • About foreign exchange statistics
        • US dollar exchange rates
        • Effective exchange rates
        • Foreign exchange trading
      • Property prices
        • About property price statistics
        • Detailed residential
        • Selected residential
        • Commercial
      • International Data Hub
      • Payment systems
      • Other indicators
        • About other indicators
        • Consumer prices
        • Policy rates
      • Effects of financial regulations
        • Overview
        • Capital and liquidity regulations
          • Overview
          • Literature & impact estimates
          • Documents & notes
        • Too-big-to-fail reforms
          • Overview
          • Literature & impact estimates
          • Documents & notes
        • FAQs
    • Banking

      Banking services

      The BIS offers a wide range of financial services to central banks and other official monetary authorities.

      Read more about our banking services

      • Banking services for central banks
      • Products and services
      • Financial statements
    • Media & speeches

      Media & speeches

      Speeches by BIS Management and senior central bank officials, and access to media resources.

      Visit the media centre

      • Media centre
      • Press releases
      • BIS management speeches
      • Basel Committee speeches
      • Central bankers' speeches
      • BIS photo gallery
      • Videos
      • Podcast
      • News archive
      • Media schedule

In this section:

  • Home
  • Research & publications
  • Quarterly Review - QR all issues
  • BIS Quarterly Review, March 2007
Logout
  • Research & publications
  • Quarterly Review
  • QR all issues
  • QR special features

BIS Quarterly Review, March 2007

BIS Quarterly Review  |  March 2007  | 
14 March 2007
PDF full text
 (819kb)
  |  107 pages

International banking and financial market developments

1.Overview: markets rally until late February
pdf version (278kb)
2.Highlights of international banking and financial market activity
pdf version (87kb)

Special features

Interpreting sovereign spreads
Authors:  Eli M Remolona, Michela Scatigna and Eliza Wu
pdf version (95kb)
Exchange rates and global volatility: implications for Asia-Pacific currencies
Authors:  John Cairns, Corrinne Ho and Robert N McCauley
pdf version (90kb)
Financial investors and commodity markets
Authors:  Dietrich Domanski and Alexandra Heath
pdf version (130kb)
Economic derivatives
Authors:  Blaise Gadanecz, Richhild Moessner and Christian Upper
pdf version (129kb)
Measuring portfolio credit risk: modelling versus calibration errors
Authors:  Nikola Tarashev and Haibin Zhu
pdf version (129kb)

Recent initiatives

Recent initiatives by the Basel-based committees and groups
pdf version (66kb)

Related information

  • Statistical data: Statistical annex: detailed tables (PDF, 115 pages)
  • Press release: 14 March 2007
  • Statistics
Top
  • Share this page
Stay connected
  • Follow us
  • Sign up to receive email alerts
  • About BIS
  • Sitemap
  • FAQ
  • Contact
  • Careers
  • Translations
  • Legal information
  • Terms and conditions
  • Copyright and permissions
  • Privacy notice
  • Cookies notice
  • Email scam warning