Systemic Risk in Global Banking: What Can Available Data Tell Us and What More Data are Needed?

26 Pages Posted: 12 Apr 2012  

Eugenio Cerutti

Johns Hopkins University; International Monetary Fund (IMF)

Stijn Claessens

Bank for International Settlements; University of Amsterdam - Finance Group; Centre for Economic Policy Research (CEPR); Tinbergen Institute; European Corporate Governance Institute (ECGI)

Patrick McGuire

Bank for International Settlements (BIS)

Date Written: April 1, 2012

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 bank level data for joint analyses and enhancements to existing sets of aggregate statistics, and enhancements to the BIS international banking statistics.

Keywords: systemic risks, banking system, international, contagion, vulnerabilities

JEL Classification: F21, F34, G15, G18, Y1

Suggested Citation

Cerutti, Eugenio and Claessens, Stijn and McGuire, Patrick, Systemic Risk in Global Banking: What Can Available Data Tell Us and What More Data are Needed? (April 1, 2012). BIS Working Paper No. 376. Available at SSRN: https://ssrn.com/abstract=2038212 or http://dx.doi.org/10.2139/ssrn.2038212

Eugenio Cerutti (Contact Author)

Johns Hopkins University ( email )

Baltimore, MD 21218
United States

International Monetary Fund (IMF) ( email )

700 19th Street N.W.
Washington, DC 20431
United States

Stijn Claessens

Bank for International Settlements ( email )

Centralbahnplatz 2
CH-4002 Basel
Switzerland

University of Amsterdam - Finance Group ( email )

Roetersstraat 18
Amsterdam, 1018 WB
Netherlands
+31 20 525 6020 (Phone)
+31 20 525 5285 (Fax)

HOME PAGE: http://www.fee.uva.nl/fm/index.htm

Centre for Economic Policy Research (CEPR)

77 Bastwick Street
London, EC1V 3PZ
United Kingdom

Tinbergen Institute

Burg. Oudlaan 50
Rotterdam, 3062 PA
Netherlands

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Patrick M. McGuire

Bank for International Settlements (BIS) ( email )

CH-4002 Basel, Basel-Stadt
Switzerland

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