BIS Quarterly Review, September 2021

BIS Quarterly Review  | 
20 September 2021
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Overview

Risky asset and sovereign bond markets seemed to send mixed signals during the period under review.

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Special features

This Special Feature finds that in a regime of low and stable inflation, sector-specific price changes account for most of the fluctuations in consumer price indices. 

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 This Special Feature analyses that the rapid rise in equity funding for financial technology (fintech) firms. 

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This Special Feature reports that policy measures that were implemented in response to the pandemic have effectively supported lending by enhancing banks' balance-sheet capacity and creating incentives for banks to use it. 

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This Special Feature finds that regulatory arbitrage, financial liberalisation and financial innovation drove a multi-decade expansion of international banking, which peaked at over 60% of world GDP before the Great Financial Crisis. 

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