Towards a 'New Normal' in Financial Markets?

34 Pages Posted: 14 Jun 2016

Date Written: May 2016


The 14th BIS Annual Conference took place in Lucerne, Switzerland, on 26 June 2015. The event brought together a distinguished group of central bank Governors, leading academics and former public officials to exchange views on the topic "Towards 'a new normal' in financial markets?". The papers presented at the conference and the discussants' comments are released as BIS Working Papers nos 561 to 564.

BIS Papers no 84 contains the opening address by Jaime Caruana (General Manager, BIS), the keynote address by John Kay (London School of Economics) and remarks by Paul Tucker (Harvard Kennedy School).

While the full publication can be downloaded by using the above link, accompanying working papers are available separately as a part of the BIS Working Paper Series:

Mobile Collateral Versus Immobile Collateral

Expectations and Investment

Who Supplies Liquidity, How and When?

Moore's Law vs. Murphy's Law in the Financial System: Who's Winning?

Suggested Citation

Settlements, Bank for International, Towards a 'New Normal' in Financial Markets? (May 2016). BIS Paper No. 84, Available at SSRN:

Bank for International Settlements (Contact Author)

Bank for International Settlements (BIS) ( email )

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Basel, Basel-Stadt 4051

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