Last June the gross market value of outstanding over-the-counter derivatives soared to a whopping $10.7 trillion, as measured by the Bank for International Settlements, a Basel, Switzerland-based clearinghouse for central banks. In their most basic form, derivatives are nothing new. Yet new types of derivatives -- often with complex, multilayered structures -- are emerging all the time. For corporates, however, there is more to derivatives than profit potential. Though many financial-services professionals may be expanding their positions in the derivatives market in search of capital appreciation -- especially when traditional investments such as stocks and bonds are generating lackluster returns, at best -- corporate participants are primarily active in derivatives for these kinds of ...
Even the world's most savvy stock-market giants (e.g., Warren E. Buffett) have warned over the past decade that derivatives are the fiscal equivalent of a weapon of mass destruction (WMD) - potentially lethal. And the consequences of such an explosion would make the recent global financial and economic crisis seem like penny ante. But generously lubricated lobbyists for the unrestricted, unsupervised derivatives markets tell congressional committees and government regulators to butt out. While banks all over the world were imploding and some $50 trillion vanished in global stock markets, the derivatives market grew by an estimated 65 percent, according the Bank for International Settlements. BIS convenes the world's 57 most powerful central bankers in Basel, Switzerland, for periodic se...
... In the ramp up to the Lehman Brothers" bankruptcy in September 2008, the Fed not only created a clas..., which is reflected in the Bank for International Settlements' most recent capital requirement regimme (Basel III) and related country-specific capital requirem... Settlements, located in Basel, Switzerland, has issued new Basel III capital rules. These wil...
BASEL, Switzerland (HedgeWorld.com) - Included in the Bank for International Settlements' quarterly review released March 3 was a paper focusing on tranched products, how they are rated and whether these ratings are an adequate reflection of their inherent risk. BIS researchers Ingo Fender, Nikola Tarashev and Haibin Zhu suggested in the paper, "Credit fundamentals, ratings and value-at- risk: CDOs versus corporate exposures," that there can be a marked mismatch between the sensitivity of collateralized debt obligation tranche ratings and those of corporate ratings to market information and ratings migration data. A further issue is that tranching itself can have profound implications on the probability of large losses. Thus, noted the researchers, "investors who narrowly focus on ratin...
...Description: The International Convergence of Capital Measurement and Capital Sta... the auspices of the Basel Committee on Banking Supervision \1\ (Basel. Committee), and was implem..., South Africa, Spain, Sweden, Switzerland,. Turkey, the United Kingdom and the United States... meets at the Bank for International Settlements (BIS) in Basel,. Switzerland, where its permanent ...
LONDON (HedgeWorld.com) - Average daily trading on the world's foreign exchange markets topped $2.9 trillion in April this year, a rise of 38% on the $2.1 trillion registered in April 2005. Even that steep advance was outpaced by U.K. market volumes, which grew 41% to more than $1.21 trillion per day in the same period, according to a report published today by International Financial Services London. All data include estimates of OTC contracts and "non-traditional derivatives" based on data provided by central banks, specifically those in the major foreign exchange markets of the United Kingdom, the United States, Japan and Singapore, and by the Bank for International Settlements, based in Basel, Switzerland.
BASEL, Switzerland (HedgeWorld.com) - In its annual report for 2005, the Bank for International Settlements acknowledged the continued growth in the hedge fund industry last year, and it sounded cautionary notes about funds' recent inability to produce consistent returns as well as about capacity constraints, bank exposure and transparency. Additionally, the bank said in its report that similarities in the performance of a number of funds may be a sign that the much- touted diversification benefits of hedge funds could be overstated.
LONDON (Reuters) - World leaders are likely to give their Financial Stability Board more clout next month to implement a welter of new financial rules as cracks and slippages emerge in the face of strong lobbying by banks. The task force, made up of regulators, treasury officials and central bankers from the world's top 20 economies (G20), has increased its staff to 20 in the past year but is still tiny compared with national watchdogs and given the work it faces.
... Bretton Woods institutions - the International Monetary Fund and World Bank - which wield consi... depends on the Bank for International Settlements in Basel, Switzerland, where the board is based. "...
BASEL, Switzerland (HedgeWorld.com) - The Bank for International Settlements yesterday published a report titled "The Recent Behaviour of Financial Market Volatility", which looks at patterns of volatility since 1970 and how these have evolved in recent times. The report was prepared by a study group of nine, of which four members were from the Bank of Italy, three from the BIS and one each from the Federal Reserve Board and the Swiss National Bank; the group was chaired by Fabio Panetta of Bank of Italy. The report finds that especially in recent years, the price volatility of a wide range of financial assets has markedly decreased. This is true not only for developed markets, but for an ever-growing number of developing markets too.
Introduction. II. Background. A. Capitalization of Assets and Deposit Insurance in International Banking. B. The Basel Committee. 1. Banking Post-World War II: The Rise and Fall of the Bretton-Woods System and the Creation of the Basel Committee. 2. Basel II: The Post-Modern International System and the Complex Modern Financial Risk Assessments which Better Serve Large Multinational Banks. C. International Banking in China: Opening a New Market to the World. III. Analysis. A. The Basel Committee Creates Customary International Law Binding on the World. B. Imposing Weakly-Supervised, Flexible Capital Reserve Requirements on Newly Deregulated Chinese Banks Leaves Internationally Active Banks Susceptible to Global Losses Stemming from a Savings Crisis. C. Basel Implementation and Intern...
... central banks have met in Basel, Switzerland to promulgate international standards governing th... Supervision, Bank for International Settlements, History of the Basel Committee and Its Membership...
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