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    1. November 24, 2014

      Liquidity puzzle lurks within bond funds’ extraordinary rise

      James Carville, in his time as adviser to former president Bill Clinton, was clear on how he would like to be reincarnated –...

    2. November 10, 2014

      Printing money to fund deficit is the fastest way to raise rates

      What is the right course for monetary policy? The International Monetary Fund seems to answer with forked tongue. Its latest...

    Special Reports

    1. Exchanges, Trading & Clearing

      The market structure industry, which includes exchanges, clearing houses, brokers, tra...
    2. World Economy

      As China prepares to take over from the US as global top dog the success of its econom...
    Search more Special Reports on this topic.

    1. November 4, 2014

      Clearing house members fear they may have to stump up in case of a failure

      Post-financial crisis, regulators have been steadfast in their insistence that more of the derivatives market be passed...

    2. October 16, 2014

      Markets are parched for liquidity despite a flood of cash

      If Guy Debelle was a hedge fund trader, he might have made a killing this week. Three days ago Mr Debelle – a top official...

    3. October 15, 2014

      After QE: Taking off the stabilisers

      In the six years since Lehman Brothers collapsed, global financial markets have held to one certainty: central banks were...

    4. October 15, 2014

      Clearing house recovery plan urged

      Clearing houses should be given all the tools needed to keep the critical market infrastructure alive rather than close them...

    5. October 9, 2014

      Macroprudential policy can be a useful tool

      Housing booms and busts felled a number of advanced economies in 2007-09. Lately, warning lights have been flashing again....

    6. October 6, 2014

      Investors weigh rising risks of EM assets

      Will investors finally forsake emerging markets as the end of Federal Reserve bond-buying looms? Foreign investment into...

    7. September 30, 2014

      Australia: I should be so lucky

      The lucky country. The 1964 book that provided the nickname for Australia was, in fact, a critique of the nation. In the...

    8. September 18, 2014

      Emerging markets brace for a bumpy ride

      In 2008 investors learnt about financial chain reactions. This was not simply because the demise of Lehman Brothers hit...

    9. September 15, 2014

      Developing world is vulnerable to rapid fixed income growth

      The rapid growth of emerging market funds, combined with “herd behaviour” by investors, threatens to be a source of...

    10. September 14, 2014

      Banks resume lending abroad as confidence returns to sector

      Banks have started to lend more abroad for the first time in nearly three years, in a sign that confidence in the sector is...

    11. FT Alphaville

      September 4, 2014

      BIS says we should follow the money

      On Wednesday we wrote about the growing consensus among scholars and policymakers that unencumbered financial flows are bad,...

    12. FT Alphaville

      September 3, 2014

      Financial globalisation not so great, says the BIS

      “It, therefore, agreed that the Fund’s Articles should be amended to make the promotion of capital account liberalization a...

    13. beyondbrics

      August 27, 2014

      Why EM asset managers are on a hair trigger for selling

      Hyun Song Shin, head of research at the Bank for International Settlements, has been sounding alarm bells over the debt...

    14. FT Alphaville

      August 21, 2014

      Video and review: "The System Worked", by Dan Drezner

      While reading Dan Drezner’s The System Worked, I kept thinking of the well-publicised conversation between Barack Obama and...

    15. July 20, 2014

      Eurozone needs quantitative easing

      Should the European Central Bank carry out a large expansion of its balance sheet? The answer is: yes. The ECB must now do...

    16. July 18, 2014

      A peek into the IMF machine

      A couple of years ago, Liaquat Ahamed, a Washington-based fund manager turned writer, flew to Tokyo to participate in the...

    17. beyondbrics

      July 15, 2014

      Guest post: does the world really need a Brics bank?

      By Ousmène Jacques Mandeng, Pramerica Investment Management Leaders of Brazil, Russia, India, China and South Africa are...

    18. Gavyn Davies

      July 10, 2014

      'Artificially' high asset prices

      Paul Krugman has written two interesting comments (here and here) on my recent “Keynesian Yellen versus Wicksellian BIS”...

    19. Gavyn Davies

      July 6, 2014

      Keynesian Yellen versus Wicksellian BIS

      The Bank for International Settlements (BIS) caused a splash last weekend with an annual report that spelled out in detail...

    20. July 3, 2014

      Low volatility hits derivatives trading

      Prospects for interest rate rises in the US and UK brought isolated bursts of activity to an otherwise slack first half of...

    21. July 1, 2014

      Bad advice from Basel’s Jeremiah

      I admire the Bank for International Settlements. It takes courage to accuse its owners – the world’s main central banks – of...

    22. Business Blog

      June 30, 2014

      The financial herd flees from investment banking

      Given that financial crises are caused by herd-like behaviour by banks, it is hard to know whether to be encouraged or...

    23. FT Alphaville

      June 30, 2014

      The (early) Lunch Wrap

      Good morning New York, FT ALPHAVILLE TWO DAYS TO GO UNTIL CAMP ALPHAVILLE! – Last chance to get your tickets for the finance...

    24. June 29, 2014

      BIS urges central banks to exit loose monetary policy

      When the Bank for International Settlements’ chief economist warned in 2003 that dangerous imbalances were building up in...

    25. June 29, 2014

      ‘Euphoric’ capital markets are out of step with reality, warns BIS

      The Bank for International Settlements has warned that “euphoric” financial markets have become detached from the reality of...

    26. June 24, 2014

      Don’t bank on a comfortable interest rate ride

      With debt in the developed world standing at higher levels than before the financial crisis, one of the more disturbing...

    27. April 27, 2014

      Swaps and derivatives: Tougher capital rules boost traders’ feelings of security

      Last month the International Swaps and Derivatives Association (Isda), a trade body, asked members and swaps users if...

    28. April 15, 2014

      Hong Kong regulators move to safeguard bank liquidity

      Hong Kong’s regulators have stepped up scrutiny of the city’s banking sector, prompted by a spike in lending to China-based...

    29. Money Supply

      April 7, 2014

      Kurodanomics, one year on

      Last Friday marked the one-year anniversary of QQE – the aggressive monetary easing regime launched by Bank of Japan...

    30. April 1, 2014

      OCBC / Wing Hang: trade finance the key

      Like China? Buy Hong Kong – banks, that is. OCBC’s offer for Wing Hang, at about twice the bank’s book value, is the latest...

    31. March 11, 2014

      Central banks in forward guidance rethink

      Economists at the Bank for International Settlements, the so-called central bankers’ bank, saw more clearly than most before...

    32. March 10, 2014

      How to make a graceful exit

      Imagine the emotions of a golfer who finds himself without his sand wedge after driving his ball into the deepest bunker on...

    33. March 9, 2014

      Forward guidance threatens to ‘encourage excessive risk’

      Efforts by central banks to spur economic recovery by providing guidance on what will happen to interest rates could...

    34. Money Supply

      March 9, 2014

      Who holds and prints the $100trn-worth of global debt?

      The Bank for International Settlements has a fascinating section in its latest quarterly report drawing attention to the...

    35. Money Supply

      March 9, 2014

      Forward guidance: no success like failure?

      Forward guidance is central banking’s latest fad. Since the nadir of the crisis, all four of the major central banks have...

    36. beyondbrics

      February 14, 2014

      Turkish corporates: should you trust them?

      Turkish corporates have come late to the eurobond market, with $4.1bn in foreign currency bonds outstanding last September,...

    37. beyondbrics

      January 28, 2014

      Turkey vs interest rates: why it matters

      If market consensus is correct, Turkey’s central bank will raise interest rates on Tuesday evening. It’s an issue that has...

    38. beyondbrics

      January 27, 2014

      Brazil's external liabilities: should we be worried?

      As investors scramble to make sense of the sell-off in emerging markets in the past few days, they will be keen to spot any...

    Search for Bank for International Settlements and