Toward a global risk map
AbstractGlobal risk maps are unified databases that provide risk exposure data to supervisors and the broader financial market community worldwide. We think of them as giant matrices that track the bilateral (firm-level) exposures of banks, non-bank financial institutions and other relevant market participants. While useful in principle, these giant matrices are unlikely to materialise outside the narrow and targeted efforts currently being pursued in the supervisory domain. This reflects the well known trade-offs between the macro and micro dimensions of data collection and dissemination. It is possible, however, to adapt existing statistical reporting frameworks in ways that would facilitate an analysis of exposures and build-ups of risk over time at the aggregate (sectoral) level. To do so would move us significantly in the direction of constructing the ideal global risk map. It would also help us sidestep the complex legal challenges surrounding the sharing or dissemination of firm-level data, and it would support a two-step approach to systemic risk monitoring. That is, the alarms sounded by the aggregate data would yield the critical pieces of information to inform targeted analysis of more detailed data at the firm- or market-level.
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Bibliographic InfoPaper provided by Bank for International Settlements in its series BIS Working Papers with number 309.
Length: 27 pages
Date of creation: May 2010
Date of revision:
risk map; international banking; financial crises; yen carry trade; funding risk;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-06-04 (All new papers)
- NEP-BAN-2010-06-04 (Banking)
- NEP-BEC-2010-06-04 (Business Economics)
- NEP-CBA-2010-06-04 (Central Banking)
- NEP-IFN-2010-06-04 (International Finance)
- NEP-RMG-2010-06-04 (Risk Management)
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