report January 13, 2022 Project Helvetia Phase II: Settling tokenised assets in wholesale CBDC The BIS, the Swiss National Bank and SIX successfully tested integration of wholesale CBDC settlement with commercial banks... Bank of International Settlements
report January 12, 2022 The populist backlash in Chapter 11 From a bankruptcy perspective, the pandemic has unfolded differently than many expected. Prior economic crises have caused sharp upswings in bankruptcy filings. The 2007-2009 crisis was true to form, with business bankruptcy filings doubling during this time, to 60,837 in 2009 from 28,322 in 2007.1 Given that governments almost completely shut down the American economy in 2020, an even... By Brookings Institute, Financial Institutions Brookings Institute
report January 12, 2022 The premia on state-contingent sovereign debt instruments by Deniz Igan, Taehoon Kim and Antoine LevyThis paper fills this gap in the literature by examining GDP-linked warrants issued by Argentina, Greece and Ukraine.... Bank of International Settlements
report January 11, 2022 Zombies on the brink: Evidence from Japan on the reversal of monetary policy effectiveness by Gee Hee Hong, Deniz Igan and Do LeeThis paper offers a corporate finance perspective on the effects and limitations of unconventional monetary policy.... Bank of International Settlements
report January 10, 2022 Platform-based business models and financial inclusion by Karen Croxson, Jon Frost, Leonardo Gambacorta and Tommaso VallettiWe show that platforms have helped to achieve impressive gains in financial inclusion, both in emerging market and developing economies and in advanced economies such as the United Kingdom.... Bank of International Settlements
report January 6, 2022 Who should regulate: Chairs or majorities of the board 2021 ended with a mini-crisis at the Federal Deposit Insurance Corporation (FDIC) resulting in the chair resigning after being outvoted by a majority of the board of directors. While this fight received substantial press attention, a similar fight occurred at the National Credit Union Administration (NCUA) where a majority of its board overruled its chair. These incidents highlight how... By Brookings Institute, Financial Regulation Brookings Institute
report December 16, 2021 Building benchmarks portfolios with decreasing carbon footprints by Eric Jondeau, Benoit Mojon and Luiz Awazu Pereira da SilvaIn this paper, we build portfolios with a progressively falling carbon footprint, which passive investors could use as a new Paris-consistent (PC) benchmark while keeping their risk-adjusted returns at the same level as those of business-as-usual (BAU) benchmarks.... Bank of International Settlements
report December 16, 2021 Managing banking crises in emerging market economies FSI Insights No 38, December 2021. The latest FSI Insight looks into the strategies that authorities can employ to meet those challenges and the implications for public backstops.... Bank of International Settlements
report December 15, 2021 Opening statement of Aaron Klein at roundtable on America’s unbanked and underbanked Chairman Himes, Ranking Member Steil, members of the Committee, thank you for inviting me to participate at this roundtable on America’s unbanked and underbanked. I laud the Committee’s attention to these substantial problems that impact approximately one out of four American families. Rectifying these problems is essential to achieving this Committee’s goal of addressing the growing prosperity gap. Aaron Klein Senior... By Brookings Institute, Financial Regulation Brookings Institute
report December 10, 2021 Interoperability between payment systems across borders by Codruta Boar, Stijn Claessens, Anneke Kosse, Ross Leckow and Tara Rice Interoperability among payment systems – as the foundation for enhancing cross-border payments – requires technical, semantic and business system compatibility so that end users can seamlessly transact with each other across systems. Public and private sector options in pursuing cross-border payment system interoperability can be illustrated using... Bank of International Settlements
