report October 18, 2021 The US needs urgently to raise its macropru game Donald Kohn Robert V. Roosa Chair in International Economics Senior Fellow - Economic Studies Implementing robust macroprudential policy—addressing threats to financial stability beyond those that were the focus of safety and soundness on an institution-by-institution basis or of investor protection market-by-market—was a constructive outcome of the legislative and policy response to the global financial crisis of 2008-09. In the U.S., the Dodd-Frank Act... By Brookings Institute, Financial Regulation Brookings Institute
report October 14, 2021 Technological capacity and firms' recovery from Covid-19 by Sebastian Doerr, Magdalena Erdem, Guido Franco, Leonardo Gambacorta and Anamaria IllesBased on a large sample of firms in 17 countries, this paper shows that businesses headquartered in countries with better digital capabilities - as measured by their position in the World Digital Competitiveness Ranking - had higher revenues during the pandemic relative to their pre-pandemic trend.... Bank of International Settlements
report October 13, 2021 Cross-border crisis simulation exercise in South America This report sets out general findings and recommendations on a range of topics, including crisis management tools; recovery and resolution planning; liquidity and resolution funding; domestic decision-making procedures; and cross-border cooperation and information-sharing.... Bank of International Settlements
report October 8, 2021 A taxonomy of sustainable finance taxonomies Sustainable finance taxonomies can play an important role in scaling up sustainable finance and, in turn, in supporting the achievement of high-level goals such as the Paris Accord and the UN sustainable development goals. This paper develops a framework to classify and compare existing taxonomies. Several weaknesses emerge from this classification and comparison, including the lack of usage of... Bank of International Settlements
report October 5, 2021 Regulating stablecoins isn’t just about avoiding systemic risk It’s good news that financial regulators are focused on figuring out what to do about stablecoins because their growth is creating significant risks. But there’s a bigger picture here than how to bring these new instruments within the regulatory perimeter, or how to regulate crypto generally, even though these are important. The bigger issue is how do we modernize... By Brookings Institute, Financial Regulation Brookings Institute
report September 30, 2021 Macroeconomic policy under a managed float: a simple integrated framework by Pierre-Richard Agénor and Luiz Awazu Pereira da SilvaThis paper presents a simple integrated macroeconomic model of a small, bank-dependent open economy with a managed float and financial frictions.... Bank of International Settlements
report September 30, 2021 Central bank digital currencies – executive summary A group of seven central banks (Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Federal Reserve, Sveriges Riksbank and Swiss National Bank), together with the Bank for International Settlements, are working together to explore central bank digital currencies (CBDCs) for the public ("general purpose" or "retail'' CBDC).... Bank of International Settlements
report September 29, 2021 Big tech regulation: what is going on? FSI Insights No 36, September 2021. This paper reviews various regulatory initiatives developed in China, the European Union and the United States to address new challenges presented by big techs.. It offers a typology of regulatory actions and focusses on five policy domains: competition, data, conduct of business, operational resilience and financial stability.... Bank of International Settlements
report September 29, 2021 Enabling open finance through APIs: report on payment initiation Report by the Consultative Group on Innovation and the Digital Economy (CGIDE) established at the BIS Representative Office for the Americas.... Bank of International Settlements
report September 28, 2021 The risks of US-EU divergence on corporate sustainability disclosure Sustainability disclosure is in vogue, with more than 80 percent of major global companies reporting on some aspects of their social and environmental impacts. This is partly driven by growing calls for transparency by civil society organizations and environmental, social, and governance (ESG) investors, who are demanding detailed and verified corporate sustainability information. ESG investments—assets that fulfill certain minimum... By Brookings Institute, Post Brookings Institute
