Global financial system: old themes, new risks

The 4th Annual Lecture in Honour of Charles Goodhart was delivered by Hyun Song Shin (BIS): www.fmg.ac.uk/events/global-financial-system-old-t….

Date: Monday 19th May 2025 Time: 18:00-19:30 BST
Venue: Old Theatre, Old Building, London School of Economics (map)
Speaker: Hyun Song Shin (Bank for International Settlements)
Chair: Dimitri Vayanos (LSE Finance & Financial Markets Group)

FX swaps make money fungible across currencies in the sense that investors who evaluate returns in one currency can nevertheless invest in assets denominated in other currencies without bearing exchange rate risk. This market is large, weighing in at 113 trillion dollars according to the latest BIS statistics, and is the linchpin in the transmission of financial conditions in the global financial system. This lecture highlights the role of global banks in this market and the channels at play in the transmission of financial conditions.

#LSEGoodhart #lse #financialsystem #FMGLSE