00806nam a2200121Ia 450000500170000008000180001724500480003526000450008330000130012850000070014152005170014858300190066520260716043124.0  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