An interacting network coupling financial institutions’ multiplex (i.e. multi-layer) and financial market infrastructures’ single-layer networks gives an accurate picture of a financial system’s true connective architecture. We examine and compare the main properties of Colombian multiplex...

We investigate the impact of the stance and path of monetary policy on the level of credit risk of individual bank loans and on lending standards. We employ the Credit Register of the Bank of Spain that contains detailed monthly information on virtually all loans granted by all credit...

A body of recent research is pointing to a growing inequality in many countries. The current debate focuses on high income countries. However, developing countries are an important element in understanding the full picture. First, evidence indicates that growing inequality can also be observed...

This experimental study investigates the behavior of banks in a large value payment system. More specifically, we look at 1) the reactions of banks to disruptions in the payment system and 2) the way banks behavior changes to incentives of the central bank. The game used in this experiment is a...

Among the reforms to over-the-counter (OTC) derivative markets since the global financial crisis is a commitment to collateralise counterparty exposures and to clear standardised contracts via central counterparties (CCPs). The reforms aim to reduce interconnectedness and improve counterparty...

The question whether central banks should bear responsibility for financial stability remains unanswered. In connection with the use of interest rates, it is therefore not clear whether and how the Taylor rule should be augmented by an additional financial stability term. This paper reviews the...

This paper discusses current housing finance practices in three emerging economies such as, Malaysia, Thailand and Singapore, as well as the impact of those practices on financial stability. National authorities and policymakers may find this analysis helpful as they reassess the structure and...

Risk assessment is one of the major challenges that must be addressed by each insurance company. To assess risk we need to know the value of losses as well as the probability of losses, since the risk cost is the basic component in evaluating the insurance indemnity. Statistical methods should...

Great inflation observed during the period 1965-1984 is the event final monetary (monetary climate the event) in the twentieth century (Meltzer, 2005). Three types of explanations have been developed - all highlighting the importance of monetary policy:• Defects in the institutional and...

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Conference on Post-Crisis Banking, The Netherlands, June 29, 2012.