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BIS Warns Of Financial Collapse -- 83 rd Annual Report

by homment | 23.06.2013 | Views: 1759

Making the most of borrowed time

23 June 2013

Originally forged to describe central banks' actions to prevent financial collapse, "whatever it takes" has become a rallying cry for them to continue their extraordinary policies. But we are past the height of the crisis, and the goal of policy today is to return to strong and sustainable growth. Authorities need to hasten structural reforms so that economic resources can more easily be used in the most productive manner. Households and firms have to complete the repair of their balance sheets. Governments must redouble their efforts to ensure the sustainability of their finances. And regulators have to adapt the rules to an increasingly interconnected and complex financial system and ensure that banks set aside sufficient capital to match the associated risks. Only forceful efforts at such repair and reform can return economies to strong and sustainable real growth.

Read the following stunning speech from Jaime Caruana, General Manager of the BIS, titled "Making the most of borrowed time"


BIS Speech

https://www.scribd.com/embeds/149543001/content?start_page=1&view_mode=scroll&show_recommendations=true


BIS   83 rd Annual Report by chapter by chapter


Title Languages
  Table of contents, letter of transmittal EN
I. Making the most of borrowed time  
  Abstract EN
  Full text EN
II. The year in retrospect  
  Abstract EN
  Full text EN
III. Removing the roadblocks to growth  
  Abstract EN
  Full text EN
IV. Fiscal sustainability: where do we stand?  
  Abstract EN
  Full text EN
V. The road to a more resilient banking sector  
  Abstract EN
  Full text EN
VI. Monetary policy at the crossroads  
  Abstract EN
  Full text EN
  The BIS: mission, activities, governance and financial results EN

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