Transcription of BIS Quarterly Review
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BIS Quarterly Review
BIS Quarterly ReviewDecember 2016 International bankingand financial market developments BIS Quarterly Review Monetary and Economic Department Editorial Committee: Claudio Borio Benjamin Cohen Dietrich Domanski Hyun Song Shin General queries concerning this commentary should be addressed to Benjamin Cohen (tel +41 61 280 8421, e-mail: queries concerning specific parts to the authors, whose details appear at the head of each section, and queries concerning the statistics to Philip Wooldridge (tel +41 61 280 8006, e-mail: This publication is available on the BIS website ( ). Bank for International Settlements 2016. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISSN 1683-0121 (print) ISSN 1683-013X (online) BIS Quarterly Review , December 2016 iiiBIS Quarterly Review December 2016 International banking and financial market developments A paradigm shift in markets?))
BIS Quarterly Review Monetary and Economic Department Editorial Committee: Claudio Borio Benjamin Cohen Dietrich Domanski Hyun Song Shin General queries concerning this commentary should be addressed to Benjamin Cohen
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