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The International Financial Statistics (IFS) has introduced changes in the presentation of the monetary statistics for the Euro Area and its member countries. The new presentation alignes  the accounts of depository corporations in the Euro Area with the methodology of the IMF's Monetary and Financial Statistics Manual, 2000 and Monetary and Financial Statistics Compilation Guide.

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The Panama Papers: Key Statistics

The Washington, DC-based International Consortium of Investigative Journalists (ICIJ) has released a database of the so-called Panama Papers - information leaked primarily from Mossack Fonseca, one of the world's leading global law firms providing services of incorporation of offshore entities and headquartered in Panama. The leak is the largest ever of offshore financial records and contains about 11.5 million legal and financial records dating back more than 40 years.  The files expose more than 213,000 offshore entities created in 21 jurisdictions, stripping away the secrecy from the offshore holdings of 238,000 people...

Bitcoin Price from 2009 to 2018

Bitcoin is one of the world's most popular digital currencies, meaning that it is exclusively created and held electronically. But, what do we actually know about digital currencies and the potential of these currencies to replace conventional money? Like conventional money, the major function of a digital currency is to serve as a means of payment, whether that is in exchange for goods or real currency, such as dollars and euros. In addition, similar to how a normal currency's exchange rate is set, the price for bitcoins - per the CoinDesk Bitcoin Price Index (XBP) - is based on market dynamics and expressed as the...

India Battles to Clean Up Bad Loans That Threaten Its Financial Stability

India is not only the third largest economy in the world, but of the top 10 largest economies globally, it has the third highest share of bad loans, too. India's non-performing loans represent 10 percent of total bank loans and about $210 billion of outstanding debt. Since 2008 when attention shifted globally to financial stability and the role of the banking sector, the share of non-performing loans in India has grown by 7.5 percent and is expected to worsen in the coming years, according to the Central Bank of India.To preempt a major national banking crisis, New Delhi is striving to clean up stressed debt with the...

Is Yield Spread can be Used as Good Indicator for Forecasting Recession

The yield spread, the difference between long term and short term interest rates, has been a good indicator of a possible future recession. The spread has correctly predicted the last seven recessions since 1960s. Why would we consider the spread as a good indicator for recession apart from the historical correlation? The central bank, through its monetary policy, has significant role in economic activity. When central bank faces tradeoff between high inflation and slow economic growth and choses later over former, it pushes up short term interest rate. As a result, spending declines in the interest sensitive parts of the...