4  BIS Review 119/2007  Conclusion Let me conclude. The challenges that have been posed by the recent market turbulence are global in nature. And so it follows that the responses to these challenges should also be global in nature. The logical forum for policy-makers to deal with this issue is the Financial Stability Forum.
Accounting treatment of financial derivatives in banks is also being streamlined so as to be broadly in tune with international standards. What are the issues that we need to be concerned about as the use of financial derivatives increases in India?