* Global bank regulator warns against complacency Sep 22, 2009
Jaime Caruana, general manager of the Bank for International Settlements, said the sector could not afford to slip into complacency about rebounds in the markets after the worst global downturn in decades. It is not the right time for complacency, he told the Financial Times. (Taipei Times, Taiwan -- World Business)
BIS Chief Warns Against Bank Rebound Complacency: FT Sep 21, 2009
Jaime Caruana, general manager of the Bank for International Settlements (BIS), warned against complacency after a surge in global stock markets over the last few months. "The profile of the recovery is not clear. Obviously things have improved significantly and the main risks we had at the beginning of the year have to some extent dissipated," he told the British business daily. (ABC News -- Wire)
Rating agencies under scrutiny Sep 17, 2009
But the Bank for International Settlements says growth in structured finance - complex bundles of corporate debt - created huge systemic risks for this arrangement. The complexity of the financial instruments and the pace of issue - the flood of asset-backed securities and structured finance products issued over the past decade - made the rating business both more difficult and more profitable,'' said the bank's latest annual report. (Sydney Morning Herald -- Business)
Economist warns of double-dip recession... Sep 15, 2009
Speaking at the Sibos conference in Hong Kong on Monday, William White, the highly-respected former chief economist at the Bank for International Settlements, also warned that government actions to help the economy in the short run may be sowing the seeds for future crises. EDITORS CHOICE. (The Drudge Report)
* Financial markets recover to early 2008 levels: BIS Sep 15, 2009
Despite uncertainty about the pace of economic recovery, investors remained cautiously optimistic in the period between end-May and early September 2009, the Bank for International Settlements (BIS) said. NARROWER SPREADS. (Taipei Times, Taiwan -- World Business)
* Central banks to strengthen regulation Sep 8, 2009
The measures should substantially reduce the probability and severity of economic and financial stress, a statement released by the Basel-based Bank for International Settlements (BIS) said. The approval sets in motion and enhances revised Basel II measures finalized in July, that require banks to bolster capital and remedy flaws exposed by the collapse in credit and financial markets last year. (Taipei Times, Taiwan -- World Business)
Economy outlook "better" than expected: bankers Sep 8, 2009
Trichet noted that the central bankers from industrialised and emerging economies meeting at the Bank for International Settlements agreed that "we were observing a confirmation of some better indicators than previously anticipated.". However, the central bankers also urged "prudence.". (Yahoo! Asia News)
Basel Group Seeks Bank Capital Quality Standards to Avoid Repeat of Crisis Sep 8, 2009
The agreements reached today among 27 major countries of the world are essential as they set the new standards for banking regulation and supervision, European Central Bank President , who leads the oversight panel, said in a statement released yesterday by the Basel, Switzerland-based Bank for International Settlements, the bank for central banks. The Basel statement builds on G-20 efforts started after the collapse of the U.S. housing market and the bankruptcy of Lehman Brothers Holdings... (Bloomberg -- Canada)
Top central banks agree on new bank regulation Sep 7, 2009
" onclick="Next();" src="/images/butt_next (Channelnewsasia.com)
Global regulators flag new bank rules Sep 7, 2009
Regulators will also consider imposing a capital surcharge to mitigate the risk of systemic banks, the central bankers said after meeting at the Bank for International Settlements in the Swiss city of Basel. BETTER BUFFERS. (India Times)
Central banks back new regulation Sep 7, 2009
A meeting of the Bank for International Settlements (BIS), which consists of the world's central banks, pledged to increase bank's capital requirements. The plans should "substantially reduce the probability and severity of economic and financial stress," the BIS said. (BBC News -- Business)
Wrong Swiss city Sep 2, 2009
However, the 2008 crash demonstrated that allowing it to be overseen by the Bank for International Settlements in Basel - "the bankers' bank" - allows financial services malefactors altogether too much control over their own regulation. A Geneva convention, outlawing the most expensive and obnoxious practices, should be imposed on the financial services sector by an outraged world. (Asia Times Online)
Fed, ECB eye recovery Aug 23, 2009
Stephen Cecchetti, a senior official at the Bank for International Settlements, said strong, sustained growth would not be achieved unless the global financial system were fixed. You dont want to become complacent. (India Times)
Ailing Home Loans Continue To Swell, But Factories Revive Aug 22, 2009
The damage from financial crises is usually long-lasting and deep, according to three economists from the Bank for International Settlements. They found that 30% of the 40 crises they studied led to contractions lasting for at least three years, while 25% of the crises resulted in cumulative. (Investors Business Daily)
* After first-half losses, Taishin Financial expects profits ahead Aug 22, 2009
Part of the proceeds from the units sale, or NT$10 billion, will be used to boost Taishin International Banks Bank for International Settlements (BIS) ratio to about 12 percent. Another NT$5 billion will be used to repay bank subordinated debts, and NT$10 billion to NT$20 billion will be used to acquire a new securities firm with a focus on investment banking businesses, the company said. (Taipei Times, Taiwan -- World)
'SARB must be independent' Aug 9, 2009
However, Mboweni added that he had enjoyed meetings at the Bank for International Settlements. "It was an exclusive club of central bankers," he said. (iAfrica.com)
Rebalancing China's economy: The spend is nigh Jul 31, 2009
From July 2005 (when China abandoned its dollar peg) to February 2009, the yuan rose by 28% in real trade-weighted terms, according to the Bank for International Settlements. But alarmed by the collapse of exports, China has virtually repegged the yuan to the dollar over the past 12 months. (The Economist)
Slap Speculators in Bondage So Free Markets Choke: Mark Gilbert Jul 30, 2009
2 trillion of currency trading takes place every single day on the foreign exchange market, according to the most recent figures from the Bank for International Settlements. Sure, some of that is Aunt Agatha swapping her dollars for dong before embarking on her summer adventures in Vietnam, and theres a contribution from Widgets Inc. bringing home its overseas earnings. (Bloomberg -- Columnists)
What went wrong with economics Jul 26, 2009
The likes of Robert Shiller of Yale, Nouriel Roubini of New York University and the team at the Bank for International Settlements are now famous for their prescience. But most were blindsided. (The Economist)
Mobius warns of future derivatives-led crisis Jul 16, 2009
The Bank for International Settlements estimates outstanding derivatives total $592 trillion, about 10 times global gross domestic product. "Banks make so much money with these things that they don't want transparency because the spreads are so generous when there's no transparency," Mobius said. (Business Report, South Africa)
Mobius Says Derivatives, Stimulus Money May Trigger a New Financial Crisis Jul 15, 2009
The Bank for International Settlements estimates outstanding derivatives total $592 trillion, about 10 times global gross domestic product. Opaque financial products contributed to almost $1. (Bloomberg -- Asia)
Can IMF be global banker? Jul 4, 2009
That is the role of the Bank for International Settlements, based in Basel, which is the secretariat for central bank discussions, the Financial Stability Forum (now Board), the Basle Committee for Banking Supervision, the International Association of Insurance Supervisors and other central bank committees. Basically, the IMF has a balance sheet of about US$350bil (available resources of US$225bil) and a staff of 2,600, based mainly in Washington DC.. (The Star Online, Malaysia -- Business)
Reform trumpet sounds again Jul 4, 2009
The Bank for International Settlements -- kind of a central bank for central banks -- has jumped on the economic reform bandwagon ... In effect, doing exactly what the Bank for International Settlements is afraid they will do ... The Bank for International Settlements is right. (Daytona Beach News Journal -- Local)
WTO cuts trade forecast, sees rising protectionism Jul 2, 2009
"Once the recovery becomes evident, the stimulus will have to be withdrawn promptly and markets allowed to regain their role in allocating resources," Jaime Caruana, General Manager of the Bank for International Settlements, said during the bank's annual general meeting. Recommend. (Yahoo! Asia News)
Shotgun Marriages Raise Risk of New Bank Blowups Jul 2, 2009
The only body that seems to be making sense on the future shape of finance is the Bank for International Settlements, the Basel, Switzerland-based institution that acts as a kind of central bank for central banks. The BISs opinions carry particular weight because of its track record as a fairly vocal Cassandra during the credit boom. (Bloomberg -- Columnists)
Turnbull's Ozcar statement satisfies police Jul 1, 2009
He cited a Bank for International Settlements report that concluded the long-term consequences of stimulus packages worldwide was public debt and higher interest rates. Today in National. (Sydney Morning Herald -- Australia)
Minister for Re-regulation well suits Lindsay Tanner as a title. Jul 1, 2009
Just this week, the Bank for International Settlements has suggested that once the sugar-hit stimulus packages wear off, economic recovery will likely be followed by an extended period of economic stagnation. Sound familiar. (Sydney Morning Herald -- Business)
Central Bankers Urge Move From Stimulus To Reform Jun 30, 2009
BASEL, Switzerland -- The Bank for International Settlements urged governments Monday to move away from "staggering" stimulus packages as the global economy stabilizes and focus instead on reforming the international financial system. BIS, a key standard-setter for the world economy as the central banks' central bank, said authorities now need to think about the medium-term health of their economies and that means adopting policies that spur critical adjustments, not hinder them. (Click2Houston, TX)
Bank urges end of stimulus spending Jun 30, 2009
BASEL, Switzerland - The Bank for International Settlements urged governments yesterday to move away from stimulus packages as the global economy stabilizes and focus on reforming the financial system. The bank is a key standard-setter for the world economy, acting as central bank to nations central banks. (Boston Globe)
BIS warns of post-crisis inflation Jun 30, 2009
There is a risk that central banks will raise interest rates and withdraw emergency liquidity too late, triggering inflation, according to the Bank for International Settlements (BIS). History shows that policy makers "have a tendency to be late, tightening slowly for fear of doing it prematurely or too severely", the BIS, which oversees central banks, says in its annual report, published yesterday in Basel, Switzerland. (Business Report, South Africa)
WORLD BANKERS: Financial products should be treated as drugs! Jun 30, 2009
The Bank for International Settlements (BIS), which acts as a forum for central banks, said government efforts to revive the global economy might have only a temporary impact because banks are not being pushed hard enough to fix their underlying problems. Banks' lending and other practices, including the approval of risky mortgages in the United States, led the global economy into the worst recession in decades. (The Drudge Report)
* Mexicos Ortiz says recovery is not yet secured Jun 29, 2009
In an interview on the sidelines of the annual meeting of central bank governors at the Bank for International Settlements (BIS), he said the global economic downturn was past its worst but recovery is not yet secured. It may be premature to go into a lot of details about exit strategies at this point, its important to have that subject in mind but I think that we are not out of the woods yet, said Ortiz, who is also chairman of the BIS board. (Taipei Times, Taiwan -- Sports)
Swiss central bank moves to weaken franc Jun 25, 2009
Traders said the Bank for International Settlements was active in the market on behalf of the Swiss National Bank, first buying euros against the Swiss franc and later buying dollars against the Swiss currency. EDITORS CHOICE. (FT.com -- Markets)
Derivatives Get Second Look From U.S. Lawmakers Who Passed Before Meltdown Jun 22, 2009
Its a second chance for Congress, whose 2000 exemption helped the market to $684 trillion by June 30, 2008, from about $100 trillion in 2000, according to Bank for International Settlements data. Credit-default swaps outstanding ballooned almost 100-fold within seven years to top $62 trillion by the end of 2007, according to estimates from the New York-based International Swaps & Derivatives Association. (Bloomberg -- US)
`Impossible to Understand' Swap Shows Italian Mayor Cost of Peer Pressure Jun 21, 2009
The global market for interest-rate swaps totals , based on figures from the Bank for International Settlements in Basel, Switzerland. The derivatives are like a big sword of Damocles over the heads of administrators, said Luca Del Gobbo, mayor of Magenta, a town of 25,000 outside Milan. (Bloomberg)
Swiss franc tumbles on intervention fears Jun 19, 2009
Speculation that the Bank for International Settlements was intervening on behalf of the Swiss National Bank to stem the rise of the Swiss franc sent the currency sharply lower on Thursday. Traders said they saw bids from the BIS to buy the euro and sell the Swiss franc in the currency market. (FT.com -- Markets)
Central Banks May Need More Power for Financial Stability May 18, 2009
FRANKFURT (Reuters) - Central banks might need more power to oversee banks if they are to play a larger role in maintaining financial stability in the post-crisis world, a Bank for International Settlements (BIS) report said on Sunday. The report also said central banks should examine issues such as the make-up of policymaking bodies, their independence, voting habits and finances as their role evolves. (ABC News -- Wire)
* Taishin Financial to sell brokerage arm May 16, 2009
Concentrating its resources on banking, Taishin Financial will further inject up to NT$12 billion into its banking unit, Taishin International Bank (xs), whose bank for international settlements (BIS) ratio and tier-1 capital ratio will then jump to 12. 7 percent and 9. (Taipei Times, Taiwan -- Sports)
South Africa: Reason to Be More Positive About Economy - Mboweni May 15, 2009
Mboweni was speaking at the release of the Bank's twice-yearly monetary policy review, after returning from talks at the Bank for International Settlements in Basel. The Bank's review painted a gloomy picture for the economy this year, but indicated inflation would continue to subside, suggesting interest rates could fall further. (allAfrica.com)
Inflation unavoidable May 14, 2009
Well, like Barron's having data from the Bank for International Settlements suggesting that the wild expansions of the money supply by the Fed and the Treasury were peanuts compared with the record contraction in the global banking system as defaults cascaded through the system. According to the BIS, total bank claims shrank by US$1. (Asia Times Online)
Press Release: BIS, ECB and IMF Publish Handbook on Securities Statistics May 14, 2009
The Bank for International Settlements (BIS), the European Central Bank (ECB) and the International Monetary Fund (IMF) today jointly released the first part of the , which covers debt securities issues. The Handbook is the first publication of its kind dealing exclusively with the conceptual framework for the compilation and presentation of securities statistics. (IMF News)
* Taiyo Life takes 11% stake in Hontai Life Insurance May 13, 2009
However, he did not detail the Bank for International Settlements (BIS) ratio levels of the deal. Hontai Life will continue to seek opportunities for international strategic partnership, he said. (Taipei Times, Taiwan -- Sports)
Worst is over, central banks say May 12, 2009
Central bankers meeting at the Bank for International Settlements in Basel summed up their qualified hopes for the future. "We are, as far as growth is concerned, around the inflection point in the cycle," said European Central Bank President Jean-Claude Trichet. (Sydney Morning Herald -- Business)
we're now on the upswing? May 12, 2009
Mr. Trichet was speaking after the regular bi-monthly gathering of central bankers at the Bank for International Settlements in Basel, which was attended by officials from developed and emerging economies. Other central bank governors also echoed Mr. Trichet in saying the worst may be over for the world economy. (Globe and Mail)
Global economy at turning point May 12, 2009
Leading central bankers meeting at the Bank for International Settlements in Basel summed up the qualified hopes. Jean-Claude Trichet. (The Star Online, Malaysia -- Business)
Euro Approaches Seven-Week High on Rate Outlook, China Investment Report May 12, 2009
As far as growth is concerned, were around the inflection point in the cycle, thats the sentiment, Trichet said at a press conference at the Bank for International Settlements in Basel, Switzerland. Appropriate. (Bloomberg -- Europe)
Regulators Fight Banker Envy, Stockholm Syndrome: Caroline Baum May 8, 2009
told regulators to outsource risk judgment to the rating agencies and to the bankers themselves, he says, referring to the international capital adequacy requirements for industrialized nations developed at the Bank for International Settlements in Basel, Switzerland. No Defense. (Bloomberg -- Columnists)
Press Release: Inter-Agency Group on Economic and Financial Statistics Launches G-20 Statistical Website Apr 28, 2009
The Inter-Agency Group on Economic and Financial Statistics was created at the end of 2008, and comprises representatives of the Bank for International Settlements, the European Central Bank, Eurostat, the IMF, the Organization for Economic Co-operation and Development, the United Nations, and the World Bank. The group is chaired by the IMF.. (IMF News)
Chicago Missing Swagger in Credit-Default Swaps as Melamed Signals Revival Apr 28, 2009
The $684 trillion notional value of the market dwarfs the $20 trillion exchange-traded futures market, which doesnt include commodities, according to the Bank for International Settlements in Basel, Switzerland. The lack of transparency in the OTC derivatives market allowed banks to make billions in profits from the spreads between offers to buy and sell. (Bloomberg)
T T Mohan: Will banking be boring? Apr 16, 2009
Hereafter, banks will find themselves subject to a regulatory minimum of capital that will be above the 8% required currently under rules framed by the Bank for International Settlements. This is the capital that is required to be set aside against risk-weighted assets. (India Times)
International Monetary Fund 2.0 Apr 10, 2009
Malcolm Knight, a former general manager of the Bank for International Settlements a sort of club for central bankers recently blasted the IMF in an article that described its performance as "less than evenhanded or effective," and accused it of being asleep at the wheel in the months before the current economic turmoil. "The IMF was uncharacteristically disengaged from the debate on growing economic and financial vulnerabilities during the run-up to the present crisis," Knight argued, adding:... (Time.com)
Merkel Makes Like Obama With German Stimulus Proving Inadequate for Europe Mar 27, 2009
In September 2008, the countrys lenders had $220 billion in loans outstanding to borrowers in eastern European countries, according to data from the Basel, Switzerland-based Bank for International Settlements. Munich-based , a commercial property lender, has also received a 102 billion-euro government rescue after credit markets froze. (Bloomberg)
Press Release: IMF Managing Director Dominique Strauss-Kahn Names Bank of Spain's Jos Vials as Financial Counsellor and Director of the Monetary and Capital Markets Department Mar 26, 2009
Mr. Vials succeeds Mr. Jaime Caruana, who was named recently as General Manager of the Bank for International Settlements (see ). In a statement issued to the IMF s Executive Board on behalf of the Managing Director, Mr. John Lipsky, First Deputy Managing Director and acting Chairman of the Board, stated. (IMF News)
Trichet Sees Turnaround Ahead Mar 13, 2009
"We're approaching a moment where we might have a pickup," said Trichet in a meeting of the Bank for International Settlements in Basel, Switzerland, reported in The Wall Street Journal. The rebound in the corporate bond markets, although just a modest one, is a good signal of a turnaround in the near term, he said. (Newsmax)
Libor Creep Says Credit Markets Risk Freezing on Distrust of Policymaking Mar 11, 2009
Libor is used to calculate rates on $360 trillion of financial product worldwide, according to the Bank for International Settlements in Basel, Switzerland. Counterparty risk appetite is something thats very much on investors minds, Elbech said in a phone interview yesterday. (Bloomberg -- UK)
G10 says global economy "approaching" pick-up Mar 10, 2009
" onclick="Next();" src="/images/butt_next. not to let any systemic institutions go under. (Channelnewsasia.com)
European bank chief sees signs of a rebound Mar 10, 2009
European Central Bank President Jean-Claude Trichet, who chaired the central bankers' talks at the Bank for International Settlements, said a return of confidence was crucial to getting the economy back on its feet. We are in a situation where we still observe a slowing down of the economy, he told a news conference, summing up the central bankers' discussions in the Swiss city of Basel. (Globe and Mail -- Business)
Nikkei closes at lowest level since 1982 Mar 10, 2009
He spoke on the sidelines of a gathering at the Bank for International Settlements in Basel, Switzerland, on Monday. . (International Herald Tribune -- Business)
IMF May Turn $650 Million Profit as Eastern Europe's Slump Spurs Lending Mar 10, 2009
Crockett, the former general manager of the Bank for International Settlements, headed a panel that included then- Federal Reserve Chairman , European Central Bank President and Peoples Bank of China Governor. The panel projected losses from 2007 to 2010. (Bloomberg -- Europe)
IMF gives self an "F" in spotting financial crisis Mar 7, 2009
The IMF said the policy debate as the crisis built was fragmented and scattered among numerous fora, including the IMF, the Bank for International Settlements and the Financial Stability Forum, each with their own missions. The Fund said while it had identified many potential risks in its cacophony of research and reports on the state of the global economy, its messages were often coded and embedded in lengthy discussions or lists of concerns. (International Herald Tribune)
Statscan issues February jobs report, Friday Mar 7, 2009
A two-day Global Economy Meeting concludes for central bank heads from leading industrial and emerging economies at the Bank for International Settlements in Basel, Switzerland. Eurogroup finance ministers meet in Brussels. (Globe and Mail -- Business)
Dollar strength will linger Mar 5, 2009
At the height of the credit bubble in mid-2007, the Bank for International Settlements estimates that major European banks dollar funding needs was around $1,300bn, he says. You have viewed your allowance of free articles. (FT.com -- Markets)
Newsweek: Could Eastern Europe go bankrupt? Mar 4, 2009
6 trillion lent to emerging markets came from banks in Europe, compared with just 10 percent from the U.S. and 5 percent from Japan, according tothe Bank for International Settlements' figures. Naturally it's EU banks that now face the biggest risks in these markets. (MSNBC -- Business)
* Stabilization policies gaining traction Mar 3, 2009
RISKS: The Bank for International Settlements warned, however, that these measures were also harming budget balances and putting pressure on the public debt market AFP, GENEVA Tuesday, Mar 03, 2009, Page 10 ... However, the impact of such massive state aid packages on budget balances is leading to intense pressure on the government debt market, the Bank for International Settlements (BIS) said in its BIS Quarterly Review. (Taipei Times, Taiwan -- Business)
Market measures working, central banks' bank says Mar 2, 2009
Bank for International Settlements says market stabilisation measures are working ... However, the impact of such massive state aid packages on budget balances is leading to intense pressure on the government debt market, the Bank for International Settlements said in its Quarterly Review. (Sydney Morning Herald -- Business)
