{"id":20192,"date":"2013-04-19T17:15:59","date_gmt":"2013-04-19T16:15:59","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=20192"},"modified":"2013-04-19T17:17:31","modified_gmt":"2013-04-19T16:17:31","slug":"even-the-bank-for-international-settlements-is-now-calling-for-country-by-country-reporting","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/04\/19\/even-the-bank-for-international-settlements-is-now-calling-for-country-by-country-reporting\/","title":{"rendered":"Even the Bank for International Settlements is now calling for country-by-country reporting"},"content":{"rendered":"<p>There's an <a href=\"http:\/\/www.bis.org\/publ\/work408.pdf\" target=\"_blank\">interesting new paper from the Bank for International\u00a0Settlements<\/a>\u00a0out this\u00a0month, authored by\u00a0Claudio Borio. Entitled 'The Great Financial Crisis: setting priorities for new\u00a0statistics' the abstract says:<\/p>\n<blockquote><p>Every financial crisis brings in its wake demands for more information; the latest one\u00a0is no exception. Because, in deceptively tranquil times, it is well-nigh impossible to\u00a0foster the consensus necessary to improve data availability, such a window of\u00a0opportunity must not be missed. To be sure, the main reason why crises occur is not\u00a0lack of statistics but the failure to interpret them correctly and to take remedial\u00a0action. But better statistics can no doubt be a big help. <strong>Priorities for new data\u00a0collections include better property prices and, above all, comprehensive financial\u00a0information for banks on a consolidated and global basis, covering their balance\u00a0sheets but also their income statements. This could be usefully complemented with\u00a0corresponding information on the international geography of these banks\u2019\u00a0operations<\/strong> and, for crisis management purposes, with much more timely and\u00a0granular data on their bilateral exposures. The collection of information should be\u00a0based on sound governance arrangements, flexible and cost-efficient. The BIS can\u00a0play and is playing a very active role.<\/p><\/blockquote>\n<p>Now if that is a not a call for\u00a0<a href=\"http:\/\/www.taxresearch.org.uk\/Documents\/CBC.pdf\" target=\"_blank\">country-by-country reporting <\/a>I am not sure what is.<\/p>\n<p>Interesting that it is now being realised that it could have prevented the last global financial crisis.<\/p>\n<p>Let's hope we get it before the next one.<\/p>\n<p>Hat tip: Duncan Wiggin<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#8217;s an interesting new paper from the Bank for International\u00a0Settlements\u00a0out this\u00a0month, authored by\u00a0Claudio Borio. Entitled &#8216;The Great Financial Crisis: setting priorities for new\u00a0statistics&#8217; the abstract<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/04\/19\/even-the-bank-for-international-settlements-is-now-calling-for-country-by-country-reporting\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[],"class_list":["post-20192","post","type-post","status-publish","format-standard","hentry","category-country-by-country"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=20192"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20192\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=20192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=20192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=20192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}