The Bank of International Settlements (BIS) has published the September 2015 issue of the BIS Quarterly Review, a 180-page document that includes in-depth articles on international banking and financial markets developments, statistics and economics features.

Articles in the publication focus on the themes of:

• FX volatility in emerging market economies, particularly China;
• global financing flows;
• the impact of US short- and long-term interest rates on the corresponding rates in emerging market and smaller advanced economies; and
• the strengthening of cross-border banking within Asia-Pacific as European banks have retreated from the region post-crisis.

As well as an "Introduction to BIS Statistics", the publication also explains the BIS's improved statistical series, which includes the BIS locational and consolidated banking statistics and general government debt figures.

The review also includes features on the following topics:

• At end-March 2015, financing of non-bank borrowers in US dollars outside the United States totalled $9.6 trillion, while financing of non-banks in euros outside the euro area came to $2.8 trillion.
• Euro-denominated cross-border claims and lending to the euro area and other European countries surged during the first quarter of 2015, although Greece was a notable exception.
• In the first half of 2015, net debt securities issuance by advanced economy borrowers rose to its fastest pace since before the global financial crisis, while issuance by emerging economy borrowers slowed.