16 December 2018

BIS Quarterly Review, December 2018

PDF (152 Pages)

International banking and financial market developments

Publication 16 Dec 2018

Yet more bumps on the path to normal

Financial markets swung widely, eventually netting a sharp correction, during the period under review, which started in mid-September.

Publication 16 Dec 2018

The geography of dollar funding of non-US banks

Where do non-US banks obtain the funding for the large amount of US dollars they lend? Traditionally, their branches and subsidiaries in the United States were a major source of dollar funding, but the role of these affiliates has declined.

Iñaki Aldasoro

and

Special features

Publication 16 Dec 2018

The growing footprint of EME banks in the international banking system

This special feature explores the role of banks from emerging market economies (EMEs) in global banking. Over the past decade, the cross-border activity of EME banks has been growing at a faster pace than that of banks from advanced economies.

Eugenio M Cerutti

,

Catherine Casanova

and

Swapan-Kumar Pradhan

Publication 16 Dec 2018

The 2008 crisis: transpacific or transatlantic?

This study analyses two hypotheses that ascribe the 2008 US financial crisis to capital inflows. The Asian savings glut hypothesis posits that net inflows into high-grade US public bonds from countries running current account surpluses led to the housing boom and bust.

Robert N McCauley

Publication 16 Dec 2018

The financial cycle and recession risk

Financial cycle booms can end in crises and, even if they do not, they tend to weaken growth. Given their slow build-up, do they convey information about recession risk?

,

Mathias Drehmann

and

Publication 16 Dec 2018

Clearing risks in OTC derivatives markets: the CCP-bank nexus

Systemically important banks and central counterparties (CCPs) interact in highly concentrated over-the-counter (OTC) derivatives markets.

,

and

Media

00:02:12

The geography of dollar funding of non-US banks

Video 16 Dec 2018

The geography of dollar funding of non-US banks

Ehlers and Aldasoro explain where non-US banks raise their $12.8 trillion in US dollar funding and where that funding comes from.

By

and

Iñaki Aldasoro

00:02:06

The 2008 crisis: transpacific or transatlantic?

Video 16 Dec 2018

The 2008 crisis: transpacific or transatlantic?

McCauley argues that European banks' investments in US mortgage-backed securities more plausibly explain the pre-2008 US housing market boom and eventual bust than Asian countries' purchases of US government bonds.

By

Robert N McCauley

The views expressed here do not necessarily reflect the views of the BIS member central banks.

Related information

BIS Statistical Bulletin, December 2018

BIS statistics: charts

Data behind the graphs

Yet more bumps on the path to normal: BIS Quarterly Review

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