Policymakers around the world need to fill major data gaps in financial markets and technology that have emerged since the Great Recession to prepare for future financial crises certain to explode in some form, said Agustin Carstens, head of the Bank for International Settlements.
“Every boom and bust comes in a new guise,” he said in a speech last week. “While we have been busy filling the data gaps identified in the last crisis, the financial world has moved on.”
Carstens, whose group is the umbrella for the world’s central banks, told a conference* in Basel, Switzerland, that the shift to bond market financing and non-bank credit calls for data collection and crisis analysis that goes beyond bank risks.
“The fragmented and inconstant nature of liquidity poses major informational challenges,” he said
New financial data gaps must be filled to address world's next crisis, BIS head Carstens says
5 September 2018 8:45am