International banking has been an important driver of financial globalisation and integration, thus contributing to welfare gains over time and across countries. During the recent crisis, however, the plight of many internationally active banks epitomised the fragility of the financial system....

The financial crisis that began in 2007 was accompanied by unprecedented funding market dislocations, which spilled across time zones and currencies. The resulting market disruptions triggered policy responses on a global scale, raising questions about the functioning and resilience of the...

Terms and conditions on secured lending transactions, as well as the changes to the eligible pool of collateral securities and the applicable haircuts on them, affect the access to credit and risk-taking behaviour of leveraged market participants. The study group report on The role of margin...

One of the lessons of the global financial crisis which started in August 2007 is the crucial importance for policy makers and supervisors of having access to a wide range of reliable, timely and detailed financial statistics. The BIS has long been playing a pioneering role in collecting and...

The risks and complexities associated with funding and liquidity management of international banks became apparent during the global financial crisis. As liquidity in major bank funding and FX swap markets evaporated, sizeable maturity mismatches across currencies added to balance sheet pressure...

Central banks will face a range of issues as macroprudential policy frameworks are developed and applied, because of central banks' roles in financial stability, and because successful macroprudential policy can help stabilise the economy. But questions surround how macroprudential policy should...

International banking has been an important driver of financial globalisation and integration, thus contributing to welfare gains over time and across countries. During the recent crisis, however, the plight of many internationally active banks epitomised the fragility of the financial system....

Market practices related to market-sensitive valuation techniques appear to have contributed to an increase in the procyclicality of leverage in the financial system. This reports sets out a menu of policy options that could be considered to mitigate these procyclical mechanisms. These include...

The flow of capital between nations, in principle, brings benefits to both capital-importing and capital-exporting countries. But very large flows can also create new exposures and bring new risks. The failure to analyse and understand such risks, excessive haste in liberalising the capital...

The financial crisis that began in August 2007 has revealed important gaps in statistics on credit risk transfer (CRT) instruments. In particular, information on structural changes in global CRT markets and on the transfer and ultimate distribution of credit risk has not been sufficiently...