About this issue
This BIS Quarterly Review is divided into two parts. The first presents an overview of recent developments in financial markets, before turning in more detail to financing flows in banking and debt securities markets, and activity in derivatives markets. The second part presents four articles: one on the new BIS effective exchange rate indices; another on new developments in the system of US housing finance; a third on the euromarket experience with basket currency bonds; and a fourth on the use of information from option prices to derive risk premia across asset markets.
International banking and financial market developments
Special features
The views expressed here do not necessarily reflect the views of the BIS member central banks.