BIS’s Hernández de Cos on AI, non-bank risk and tokenisation
· Pablo Hernández de Cos, General Manager of the Bank for International Settlements (International)
Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets, public finances and debt, trade, fragmentation and geopolitics, growth, investment and productivity
PH · Pablo Hernández de Cos Wiki · Bank for International Settlements WikiBIS’s Hernández de Cos on AI, non-bank risk and tokenisationContextGeneral manager talks to Central Banking about how the BIS is navigating a complex global environment.
Why it mattersExplains the BIS's new centenary strategy and the priorities it sets on non-bank finance, AI and tokenisation.
Problems raised- Public debt is high and supply shocks are more frequent.
- Non-bank financial intermediaries hold growing amounts of public debt and are linked to banks.
- Geopolitical tensions complicate the work of international institutions.
Solutions proposed- Strengthen the support offered to member central banks through the BIS 100 strategy.
- Study non-bank risks and the side effects of regulatory measures.
- Research fragmentation, ageing and the effect of AI on productivity and jobs.
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