EconPapers    
Economics at your fingertips  
 

The Great Financial Crisis: setting priorities for new statistics

Claudio Borio

No 408, BIS Working Papers from Bank for International Settlements

Abstract: Every financial crisis brings in its wake demands for more information; the latest one is no exception. Because, in deceptively tranquil times, it is well-nigh impossible to foster the consensus necessary to improve data availability, such a window of opportunity must not be missed. To be sure, the main reason why crises occur is not lack of statistics but the failure to interpret them correctly and to take remedial action. But better statistics can no doubt be a big help. Priorities for new data collections include better property prices and, above all, comprehensive financial information for banks on a consolidated and global basis, covering their balance sheets but also their income statements. This could be usefully complemented with corresponding information on the international geography of these banks' operations and, for crisis management purposes, with much more timely and granular data on their bilateral exposures. The collection of information should be based on sound governance arrangements, flexible and cost-efficient. The BIS can play and is playing a very active role.

Keywords: financial crisis; systemic risk; banking statistics; property prices (search for similar items in EconPapers)
Pages: 21 pages
Date: 2013-04
New Economics Papers: this item is included in nep-ban, nep-fmk and nep-rmg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (50)

Downloads: (external link)
http://www.bis.org/publ/work408.pdf Full PDF document (application/pdf)
http://www.bis.org/publ/work408.htm (text/html)

Related works:
Journal Article: The Great Financial Crisis: Setting priorities for new statistics (2013) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bis:biswps:408

Access Statistics for this paper

More papers in BIS Working Papers from Bank for International Settlements Contact information at EDIRC.
Bibliographic data for series maintained by Martin Fessler ().

 
Page updated 2025-03-30
Handle: RePEc:bis:biswps:408