Notional amounts do not reflect the economic exposure in these markets, which is a small fraction of the notional value, but the growth noted here is indicative of the growth in exposure. See Bank for International Settlements (2012b).
2  BIS central bankers’ speeches  highlights ways in which network structure and interconnectedness can give rise to or exacerbate systemic risk in the financial system. The economics of interconnectedness and systemic risk Academic research that explores the relationship between network structure and systemic risk is relatively new. Not surprisingly, interest in this field has increased considerably since the financial crisis.