A small expectations-expanded "Mundell-Fleming" model is built for the European Union Accession Countries and estimated to assess the optimality of different exchange rate regimes (a peg and a float) through a simple welfare function. Floating appears as the best option for most of the countries...

The methodology and presentation of the BIS payment and settlement statistics have been modified to enhance the comparability of data provided by different countries. The statistics show the impact of technological innovations on the use of payment instruments and on the processing of payments...

The post-trading infrastructure of OTC derivatives markets has not always kept up with the rapid growth in trading volumes. Recent years have seen some initiatives that seek to introduce multilateral elements that facilitate flows of information between market participants while preserving the...