Richard Melson

November 2005

BIS Review No.76 & Press Release

Please find BIS Review No 76 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the:

Bank for International Settlements' website by clicking on:

What's included?

BIS Review No 76 (24 November 2005)

Klaus Liebscher: Financial deregulation in the EU – chances and challenges for financial stability

Jean-Claude Trichet: Developing the work and tools of CEIOPS: the views of the ECB

T T Mboweni: The South African Reserve Bank and gold; recent economic developments in South Africa

Zhou Xiaochuan: Financial cooperation between China and Europe

Zhou Xiaochuan: Learn lessons from the past for the benefit of future endeavour

Shri V Leeladhar: Indian banking – the challenges ahead

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BIS Review No 76 available

Attachment: bisrev76.pdf (0.37 MB)

Press, Service

Thursday, November 24, 2005

Press, Service

The latest semiannual survey of over-the-counter derivatives markets

has been released by the Bank for International Settlements today.

See the press release on the BIS website for details.


BIS Press & Communications

OTC derivatives market activity in the first half of 2005

17 November 2005

Activity in the over-the-counter derivatives markets continued to grow during the first half of 2005, albeit at a somewhat slower pace than in the preceding six months. According to the latest semiannual survey released by the BIS, notional amounts outstanding rose by 7% to $270 trillion at the end of June, after a 14% increase during the second half of 2004. Gross market values, which measure the cost of replacing all contracts and thus represent a better measure of risk at a given point in time than notional amounts, rose by 16% to $11 trillion.

The following trends are visible:

A sharp rise in the notional amounts of equity and commodity contracts

The growing share of dollar-denominated interest rate products

The increasing sophistication of FX derivatives on the Mexican peso

Credit default swaps weather sell-off in credit markets

Little change in market concentration

Comprehensive explanatory notes are included in the statistical release,

defining the coverage of and terms used to present the statistics.

Any queries arising from these statistics can be directed to:

Paola Gallardo tel: +41 61 280 8445, e-mail:

Christian Upper tel: +41 61 280 8416, e-mail:

The BIS expects to release the OTC derivatives statistics

for the second half of 2005 no later than 31 May 2006.

Press release:

OTC derivatives market activity in the first half of 2005

Press, Service

Thursday, November 17, 2005