Cyber Risk and Bank Supervision: Lessons from the ECB Cyber Stress Test
SUERF Policy Brief Can supervisory scrutiny alone — without capital charges or public disclosure — shift bank behaviour on cybersecurity investment? This SUERF Policy Brief, based on an ECB Working Paper, examines whether the ECB’s 2024 Cyber Resilience Stress Test (CyRST) induced banks to increase cybersecurity investment. Cybersecurity has become a central financial stability concern: […]
Annual Economic Report 2026
The Bank for International Settlements (BIS) has released its Annual Economic Report 2026, warning that economic progress faces rising perils and that disciplined policy responses across all fronts are now essential. The report identifies four pressure points of direct relevance for banking supervisors. First, inflation risks: in a world of more frequent negative supply shocks […]
Global banking and geopolitics through time
Monetary and Economic Department of the Bank for International Settlements BIS Working Papers No 1338 Focus This paper investigates how geopolitical events, both negative and positive, affect global banking activity. Based on confidential banking statistics from the Bank for International Settlements spanning nearly five decades (1977–2024), the research examines how international bank credit between thousands […]
Global giants in the AI supply chain
BIS Bulletin No 122 Globally, the largest artificial intelligence (AI) firms are based in the United States, China, Chinese Taipei, Korea and the Netherlands. These global AI giants account for an increasing share of total market capitalisation, capital expenditure and revenues in their respective jurisdictions. For many AI giants – and particularly those from the […]
Managing explanations: how regulators can address AI explainability
FSI Occasional Papers No 24 The growing use of AI in finance is reshaping operations, risk management, and customer services, but limited explainability of complex models (like deep learning and LLMs) poses serious challenges for institutions and regulators. Explainability is vital for transparency, accountability, compliance, and trust, yet current techniques are often unreliable. Most existing […]
Payment systems in the Americas: what have we achieved and what is left to do?
Speech by Mr Alexandre Tombini, BIS Chief Representative for the Americas, at the “Evolution of means of payment” seminar at the Bank of Mexico, Mexico City, 10 September 2025. In a keynote address at the Bank of Mexico, Mr. Alexandre Tombini, BIS Chief Representative for the Americas, highlighted the vital role central banks play not […]