BIS chief discusses emerging markets and financial risk

Knight outlines new risks in globalised economy

The remarkable increases in cross-border capital flows and the growing importance of emerging markets in the financial systems calls for stronger co-operation between national central banks and regulators, said Malcolm Knight, general manager at the Bank for International Settlements.

Speaking to an audience at the Buenos Aires-based Centre for Financial Stability, Knight said that the growth in derivatives markets, coupled with the importance of new players such as hedge funds and private equity