This note discusses FX reserves management as practised by emerging market economies and, more specifically, by Saudi Arabia. It shares the Saudi Arabian Monetary Authority's experience on reserve adequacy, investment objectives, philosophy and process, portfolio tranching, risk management and...

Prior research suggests that corporate bond issuance in emerging market economies increases when the markets exhibit substantial liquidity. While the Malaysian corporate bond market has grown dramatically over the last few decades, having now become one of the largest among emerging market...

This paper discusses the scope for international macroprudential policy coordination in a financially integrated world economy. It first reviews the transmission channels associated with, and the empirical evidence on, financial spillovers and spillbacks - which have both increased in magnitude...

Credit has grown at a rapid pace in emerging markets (EMs) over the last 10 years. Banks have played a major role in the extension of credit and have continued to be its main source. Domestic banks have taken over business from foreign banks since 2008. However, developments across EMEs have...

Central banks in Africa are changing as the continent becomes increasingly integrated with the global financial system. In this context, governors from major central banks met in Basel on 11-12 May 2013 to compare notes on their experiences in dealing with the challenges of increased financial...

Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...

This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...

This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...