00777nam a2200109Ia 4500080001800000245004800018260004500066300001300111500000700124520051700131583001900648  a11.02.02 R294  aRecent innovations in international banking  bBank for International Settlementsc1986  aix,270p.  aDC  aInnovation has improved the efficiency of international financial markets, mainly by offering a broader and more flexible range of instruments both for borrowing and for hedging interest and exchange rate exposures. This report examines whether these trends at the same time either increase risks within the financial structure or after the functioning of the financial system over the long term, in ways which suggest the need for central banks to adjust their approaches to monetary or macro-prudential policy.  c3/7/00kM2LMGR