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Systemic risk in global banking: what can available data tell us and what more data are needed?

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Author Info

  • Eugenio Cerutti
  • Stijn Claessens
  • Patrick McGuire

Abstract

The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk analysis is severely hampered by the lack of consistent data that capture the international dimensions of finance. While currently available data can be used more effectively, supervisors and other agencies need more and better data to construct even rudimentary measures of risks in the international financial system. Similarly, market participants need better information on aggregate positions and linkages to appropriately monitor and price risks. Ongoing initiatives that will help close data gaps include the G20 Data Gaps Initiative, which recommends the collection of consistent banklevel data for joint analyses and enhancements to existing sets of aggregate statistics, and enhancements to the BIS international banking statistics.

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Bibliographic Info

Paper provided by Bank for International Settlements in its series BIS Working Papers with number 376.

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Length: 26 pages
Date of creation: Apr 2012
Date of revision:
Handle: RePEc:bis:biswps:376

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Related research

Keywords: Systemic risks; banking system; international; contagion; vulnerabilities;

References

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  1. Lehar, Alfred, 2005. "Measuring systemic risk: A risk management approach," Journal of Banking & Finance, Elsevier, vol. 29(10), pages 2577-2603, October.
  2. Upper, Christian, 2011. "Simulation methods to assess the danger of contagion in interbank markets," Journal of Financial Stability, Elsevier, vol. 7(3), pages 111-125, August.
  3. Brenda González-Hermosillo & Heiko Hesse, 2009. "Global Market Conditions and Systemic Risk," IMF Working Papers 09/230, International Monetary Fund.
  4. Aneta Hryckiewicz & Oskar Kowalewski, 2011. "Why Do Foreign Banks Withdraw from Other Countries?," International Finance, Wiley Blackwell, vol. 14(1), pages 67-102, 04.
  5. Giorgio Barba Navaretti & Giacomo Calzolari & Alberto Franco Pozzolo & Micol Levi, 2010. "Multinational Banking in Europe: Financial Stability and Regulatory Implications;Lessons from the Financial Crisis," Mo.Fi.R. Working Papers 40, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
  6. Cerutti, Eugenio & Dell'Ariccia, Giovanni & Martinez Peria, Maria Soledad, 2005. "How banks go abroad : branches or subsidiaries ?," Policy Research Working Paper Series 3753, The World Bank.
  7. Andrew Powell & María Soledad Martinez Peria & Ivanna Vladkova, 2002. "Banking on Foreigners: The Behaviour of International Bank Lending to Latin America, 1985-2000"," Business School Working Papers veintiseis, Universidad Torcuato Di Tella.
  8. Yulia Makarova & Anna Ilyina & Christian Schmieder & Eugenio Cerutti, 2010. "Bankers without Borders? Implications of Ring-Fencing for European Cross-Border Banks," IMF Working Papers 10/247, International Monetary Fund.
  9. Robert McCauley & Patrick McGuire & Goetz von Peter, 2010. "The architecture of global banking: from international to multinational?," BIS Quarterly Review, Bank for International Settlements, March.
  10. Juan Sole & Marco A Espinosa-Vega, 2010. "Cross-Border Financial Surveillance," IMF Working Papers 10/105, International Monetary Fund.
  11. de Haas, Ralph & van Lelyveld, Iman, 2010. "Internal capital markets and lending by multinational bank subsidiaries," Journal of Financial Intermediation, Elsevier, vol. 19(1), pages 1-25, January.
  12. Ralph de Haas & Neeltje van Horen, 2011. "Running for the Exit: International Banks and Crisis Transmission," DNB Working Papers 279, Netherlands Central Bank, Research Department.
  13. Ingo Fender & Patrick McGuire, 2010. "Bank structure, funding risk and the transmission of shocks across countries: concepts and measurement," BIS Quarterly Review, Bank for International Settlements, September.
  14. Stephen Cecchetti & Ingo Fender & Kostas Patrick McGuire, 2010. "Toward a global risk map," BIS Working Papers 309, Bank for International Settlements.
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Cited by:
  1. Spiros Bougheas & Alan P. Kirman, 2014. "Complex Financial Networks and Systemic Risk: A Review," CESifo Working Paper Series 4756, CESifo Group Munich.
  2. Samuel R\"onnqvist & Peter Sarlin, 2014. "Bank Networks from Text: Interrelations, Centrality and Determinants," Papers 1406.7752, arXiv.org.
  3. Sylvain Benoit & Gilbert Colletaz & Christophe Hurlin & Christophe Pérignon, 2013. "A Theoretical and Empirical Comparison of Systemic Risk Measures," Working Papers halshs-00746272, HAL.
  4. Mardi Dungey & Matteo Luciani & David Veredas, 2012. "Ranking Systemically Important Financial Institutions," Tinbergen Institute Discussion Papers 12-115/IV/DSF44, Tinbergen Institute.
  5. Bholat, David & Gray, Joanna, 2013. "Organizational form as a source of systemic risk," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 7(27), pages 1-35.
  6. Israël, Jean-Marc & Sandars, Patrick & Schubert, Aurel & Fischer, Björn, 2013. "Statistics and indicators for financial stability analysis and policy," Occasional Paper Series 145, European Central Bank.
  7. Samuel R\"onnqvist & Peter Sarlin, 2013. "From Text to Bank Interrelation Maps," Papers 1306.3856, arXiv.org.

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