This volume is a collection of the speeches, presentations and papers from a conference on "The International Financial Crisis and Policy Challenges in Asia and the Pacific". The event was co-hosted by the People's Bank of China (PBC) and the Bank for International Settlements (BIS) to mark the...

Central bank balance sheets have been expanding rapidly over the past decade in emerging Asia, due to the unprecedented rise in foreign reserve assets. We outline the changes in the composition of both assets and liabilities on central bank balance sheets in the region, and the factors that have...

Central bank balance sheets in emerging Asia expanded rapidly over the past decade because of the unprecedented rise in foreign reserve assets. The corresponding expansion of the central banks' liabilities has created dangers - risks of inflation and financial instability and financial market...