report January 20, 2022 Gatekeeping the gatekeepers: when big techs and fintechs own banks – benefits, risks and policy options FSI Insights No 39, January 2022. 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 January 19, 2022 Bank opacity – patterns and implications by Stefan Avdjiev and Maximilian JagerWe investigate the patterns and implications of bank opacity in Europe using a rich bank-level data set.... Bank of International Settlements
report January 18, 2022 Monetary policy and endogenous financial crises by Frederic Boissay, Fabrice Collard, Jordi Galí and Cristina ManeaWe study whether a central bank should deviate from its objective of price stability to promote financial stability.... Bank of International Settlements
report January 13, 2022 Informational switching costs, bank competition, and the cost of finance by José Renato Haas Ornelas, Marcos Soares da Silva and Bernardus F Nazar Van DoornikThis paper studies the links between competition in the lending market and spreads of bank loans in Brazil.... Bank of International Settlements
report January 13, 2022 Central bank digital currencies (CBDCs) in Latin America and the Caribbean by Viviana Alfonso C, Steven Kamin and Fabrizio ZampolliOur statistical analysis identifies important drivers of engagement in CBDC development: the extent of innovation, the presence of fast payment systems, government effectiveness, financial account ownership, financial development more generally and... Bank of International Settlements
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 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 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... 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 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... Bank of International Settlements
report December 8, 2021 Project Jura – Cross-border settlement using wholesale CBDC Jura explores the direct transfer of euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are... Bank of International Settlements
report December 6, 2021 BIS Quarterly Review, December 2021 BIS Quarterly Review for December 2021 -... Bank of International Settlements
report December 2, 2021 Suptech tools for prudential supervision and their use during the pandemic FSI Insights No 37, December 2021. This paper discusses financial authorities use of suptech tools for a range of activities, including data analytics for prudential supervision whose use cases have recently grown.... Bank of International Settlements
report December 1, 2021 Credit constrained firms and government subsidies: evidence from a European Union program by Eszter Balogh, Adám Banai, Tirupam Goel, Péter Lang, Martin Stancsics, Előd Takáts and Álmos TelegdyUsing rejected subsidy applicants as control group and bank queries to the credit-registry to identify firms that applied for but did not receive a... Bank of International Settlements
report November 30, 2021 Stress testing – Executive Summary Stress tests are forward-looking exercises that aim to evaluate the impact of severe but plausible adverse scenarios on the resilience of financial firms.... Bank of International Settlements
report November 30, 2021 Insurance Core Principles – Executive Summary The Insurance Core Principles (ICPs) provide a globally accepted framework of principles, standards and guidance for the regulation and supervision of the insurance sector.... Bank of International Settlements
report November 25, 2021 Losing traction? The real effects of monetary policy when interest rates are low by Rashad Ahmed, Claudio Borio, Piti Disyatat and Boris HofmannAre there limits to how far reductions in interest rates can boost aggregate demand? In particular, as interest rates fall to very low levels, does the effectiveness of monetary policy... Bank of International Settlements
report November 25, 2021 Navigating by r*: safe or hazardous? by Claudio BorioThe concept of the natural rate of interest, or r-star (r*), has risen to prominence in monetary policy following the Great Financial Crisis. No doubt a key reason for the concept's newfound prominence has been the further... Bank of International Settlements
