Proceedings of the IFC Conference on "Measuring financial innovation and its impact", Basel, 26-27 August 2008

Proceedings of the IFC Conference on "Measuring financial innovation and its impact", Basel, 26-27 August 2008

IFC Bulletin | No 31 |

24 July 2009

| 538 pages

	page
Opening remarks
Stephen Cecchetti	1
Jan Smets, Former Chairman of the Irving Fisher Committee on Central Bank Statistics	3

Session 1: An overview of challenges related to measuring financial innovations
Financial innovations and developments in housing finance in Mexico Jazmin Carballo-Huerta and Juan Pedro González-Ibarra	7
Compilation and analysis of data on securitised public debt in Kenya Isaya Maana	35
The possibilities and limitations of derivatives statistics collected by central banks Winfried Rudek	44
Credit information in Thailand Davina Kunvipusilkul	49
Integration of new financial developments into the new worldwide statistical standards Reimund Mink	58

Session 2: Measuring developments in housing finance
Housing finance in the Netherlands - the impact of structural developments on households and banks Dirk van der Wal and Henk Lub	81
Development of housing finance and its impact on socio-economic uplift in the emerging economy in Bangladesh Khandaker Khalidur Rahman	97
EU housing statistics Martin Eiglsperger and Wim Haine	111

Session 3: Keeping track of securitisation
How to measure credit risk transfer in the EU Paolo Poloni and Julien Reynaud	123
Experience with the collection and publication of data on structured products in Switzerland Jürg Bärlocher	141
Popular and controversial banking products for households in Norway Gunnar Almklov	150

Session 4: Challenges in cimpiling derivative statistics
Cross-border derivatives exposures: how global are derivatives markets? Sally Davies	159
Methodology for measuring derivatives at the Central Bank of Chile Valeria Orellana and Paulina Rodríguez	165
Alternative tools of trade for central banks and other financial institutions: foreign exchange liquidity options Gürsu Keleş and T Sabri Öncü	81
Measuring cross-border derivatives in the United States Thad Russell	197
Compilation of derivatives statistics in Chinese Taipei Pei-wen Chen	201
Compilation of statistical data on new financial instruments: the case of the Czech Republic Rudolf Olšovský	209

Session 5: Micro and macro measures of financial risks
Financial markets' appetite for risk - and the challenge of assessing its evolution by risk appetite indicators Birgit Uhlenbrock	221
Rating migration matrices: empirical evidence in Indonesia Muliaman D Hadad, Wimboh Santoso, Bagus Santoso, Dwityapoetra Besar and Ita Rulina	260
Financial soundness indicators (FSIs): framework and implementation Armida San Jose and Andreas Georgiou	277
Financial innovation and the importance of modern risk management systems - a case of Zambia Mankolo Beyani and Raphael Kasonde	283
Changes in investors' risk appetite - an assessment of financial integration and interdependence Laurence Kang-por Fung, Chi-sang Tam and Ip-wing Yu	294
Financial innovation and corporate default rates Samuel Maurer, Luu Nguyen, Asani Sarkar and Chenyang Wei	322
Stress testing with incomplete data: a practical guide Stacia Howard	344
The use of security-by-security databases to monitor the interest rate of private debt securities and to measure credit risk premium - the Portuguese case João Miguel Coelho	356
Measures of financial stability - a review Blaise Gadanecz and Kaushik Jayaram	365

Session 6: Impact of financial innovations on economic and financial statistics
Do financial systems converge? New evidence from household financial assets in selected OECD countries Giuseppe Bruno and Riccardo De Bonis	383
Data modelling - merging supervision, statistics and monetary analysis data into a joint data set for financial enterprises Olav Stensrud	402
Further enhancing monetary analysis with more data at short notice Björn Fischer and Frank Mayerlen	408
Foreign portfolio investors in Africa: the case of Zambia Isaac Muhanga and Kombe Soteli	422
Innovations in retail payments and the BIS statistics on payment and settlement systems Marc Hollanders	431
The influence of note financing on credit aggregates Guo Yongqiang	439
Assessing the contribution of financial innovations to the production of implicit services of financial intermediation in Costa Rica Adolfo Rodríguez Vargas	445
Monetary statistics: integration of revisions in the "System of National Accounts 2008" Randall Merris	467
Recent innovations in inter-bank electronic payment system in Mexico: the role of regulation José L Negrín, Diadelfa Ocampo and Alejandro de los Santos	473
Measuring the economic impact of private equity funds: the South African experience Barend de Beer and Zeph Nhleko	495

Session 7: Panel on data issues in the context of the recent financial turmoil
Data issues in the context of the recent financial turmoil Paul Van den Bergh	513
Panel summary Paul Van den Bergh	520

Closing remarks
Manuel Marfán, Chairman of the Irving Fisher Committee on Central Bank Statistics	525

Annex: Participants in the conference	527