References  Baba, Naohiko, Frank Packer and Teppei Nagano (2008): The spillover of money market turbulence to FX swap and cross-country swap markets. BIS Quarterly Review (March), 7386. Baba, Naohiko and Frank Packer (2009): From turmoil to crisis: dislocations in the FX swap market before and after the failure of Lehman Brothers. BIS Working Papers No 285 (June). BIS (2008): 78th Annual report.
The Commission’s proposals – which I fully support – will provide a common language for domestic authorities for recovery and resolution planning, set up a common toolbox of supervisory and resolution measures, and also establish some principles for cross-border cooperation.