Bank is a lively, informal restaurant and bar offering great food and impeccable service in a relaxed atmosphere.
Taking inspiration from around the globe and using only the finest, freshest ingredients, our eclectic menu has something delicious to suit every palate, promising an unforgettable experience. The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and supervision. In recent months, the number of policy speeches, research papers and conferences that discuss a macro perspective on financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their usage, their relationship with monetary policy, their implementation and their effectiveness. Macroprudential policy has recently also attracted considerable attention among researchers. This paper provides an overview of research on this topic. We also identify important future research questions that emerge from both the literature and the current policy debateThe property price statistics bring together data from different countries. The BIS, with the assistance of its member central banks, 1 has obtained approval of various national data providers to disseminate the statistics as long as the national sources are clearly indicated. The sources and any relevant disclaimers are listed separately (sources of data). Copyright in these data must be honoured.
The property price statistics currently include data from 40 countries, and are available at different frequencies. The data differ significantly from country to country, for instance in terms of sources of information on prices, type of property, area covered, property vintage, priced unit, detailed compilation methods and seasonal adjustment. This reflects two facts. Firstly, that the processes associated with buying and selling a property and hence data available, vary between countries and secondly, that there are currently no specific international standards for property price statistics. However, Eurostat is taking the lead in drafting a Handbook on Residential Property Price Indices under the aegis of the Inter-Secretariat Working Group on Price Statistics. This handbook will give recommendations on best practice for compiling residential property price indices and will present these in the context of the different user needs for such indices. A draft of the Handbook is available for public comment. The Handbook builds on work undertaken at a number of international meetings over recent years to identify the requirements for improved data on property prices from an economic, monetary and financial stability perspective.
In disseminating these statistics, the BIS and its member central banks are following up on Recommendation 19 in the Report on "The Financial Crisis and Information Gaps" submitted by the Financial Stability Board and IMF to the G20 Finance Ministers and Central Bank Governors
On 24-25 June 2010, the BIS held its Ninth Annual Conference, on "The future of central banking under post-crisis mandates" in Lucerne, Switzerland. The event brought together senior representatives of central banks and academic institutions who exchanged views on this topic. This volume contains the opening address by Stephen Cecchetti (Economic Adviser, BIS), a keynote address by Baron Alexandre Lamfalussy, and the contributions of the policy panel on "Do central bank governance arrangements need to be altered?". The participants in the policy panel discussion, chaired by Jaime Caruana (General Manager, BIS), were Mark Carney (Bank of Canada), Andrew Crockett (JPMorgan Chase International), Stefan Ingves (Sveriges Riksbank), Lucas Papademos (former Vice-President, ECB) and Duvvuri Subbarao (Reserve Bank of India). The papers presented at the conference and the discussants' comments were released as BIS Working Papers 326 to 331.
The Board of Directors of the Bank for International Settlements (BIS), meeting in Basel, Switzerland, yesterday elected Masaaki Shirakawa, Governor of the Bank of Japan, as its Vice-Chairman.
Mr Shirakawa has been on the Board since May 2008 and is Chair of the BIS Asian Consultative Council. His appointment as Vice-Chairman is for a period of three years from 10 January 2011.
Mr Shirakawa succeeds Hans Tietmeyer who had held the post from 1 July 2003 until he stepped down as a BIS director at end-December 2010. The BIS Board expressed their gratitude to Mr Tietmeyer for his eminent services to the BIS.
The Board of Directors of the Bank for International Settlements (BIS) announces the appointment of José De Gregorio as Chair of the BIS Consultative Council for the Americas (CCA). Mr De Gregorio is Governor of the Central Bank of Chile.
Mr De Gregorio's appointment is for a term of two years from 10 January 2011. He succeeds Henrique de Campos Meirelles, Governor of the Central Bank of Brazil until end-December 2010, as CCA Chair. The BIS Board and CCA Governors thank Mr Meirelles for his leadership during his time as Chair.