Thus, any link of oil prices to inflation must be through so-called second-round effects, in which increased fuel prices push up wages and other costs.
2  BIS central bankers’ speeches  7. As part of the Enhancement to the Basel II Norms in July 2009, the BCBS strengthened the treatment for certain Securitisation exposures under Pillar 1 (minimum capital requirements) and introduced higher risk weights for re-Securitisation exposures to better reflect the risk inherent in these products.