Meltdown fears are back

Address by Shri V.K.Sharma, Executive Director at the Second Pan-Asian Regulatory Summit, organised recently by Thomson Reuters in Singapore

Systemic risks in the global markets can be best identified and measured by looking at some select key parameters which, between them, indicate the extent of asset bubbles and the corresponding under-pricing of risks. In other words, it is not so much high volatility, which is the ‘effect', that should be a cause for concern as persistent and excessively low volatility, which is the ‘cause', and was the hallmark of the pre-crisis period.  

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