Claudio Borio

Claudio Borio

Deputy Head of Monetary and Economic Department and Director of Research and Statistics
Monetary and Economic Department

Currently Deputy Head of Monetary and Economic Department and Director of Research and Statistics, Bank for International Settlements. At the BIS since 1987, covering various responsibilities in the Monetary and Economic Department including as Head of the Secretariat for the Committee on the Global Financial System and the Gold and Foreign Exchange Committee (now known as Markets Committee). 1985-1987: worked as economist at the OECD in the country studies branch of the Economics and Statistics Department. Prior to that Lecturer and Research Fellow at Brasenose College, Oxford University. Holder of a DPhil and MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university. Author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.


Fields of interest

  • Monetary economics and policy
  • Financial stability
  • Banking and finance

Selected Publications

  • "Capital regulation, risk-taking and monetary policy: A missing link in the transmission mechanism?", with H Zhu, forthcoming in Journal of Financial Stability, 2011
  • "Implementing a macroprudential framework: blending boldness and realism", Capitalism and Society, Vol. 6, Issue 1, Article 1, 2011
  • "Unconventional monetary policies: An appraisal", with P Disyatat, The Manchester School; Vol. 78, Issue s1, pp. 53-89, September 2010
  • "Global imbalances and financial stability: rethinking the role of international finance", with P Disyatat, Asian Economic Policy Review, Vol. 5, No. 2, pp. 198-216, 2010
  • "Whither monetary and financial stability? The implications of evolving policy regimes", with W White, Monetary policy and uncertainty: Adapting to a changing economy, proceedings of the Jackson Hole Symposium, Federal Reserve Bank of Kansas City, 28-30 August 2003, forthcoming in Journal of Financial Stability

BIS Research papers

Date Research papers
Jun 2010

Resolving the financial crisis: are we heeding the lessons from the Nordics?

Working Papers No 311

Other authors: Bent Vale and Goetz von Peter

May 2010

Attributing systemic risk to individual institutions

Working Papers No 308

Other authors: Nikola Tarashev and Kostas Tsatsaronis

Nov 2009

Ten propositions about liquidity crises

Working Papers No 293

Nov 2009

Unconventional monetary policies: an appraisal

Working Papers No 292

Other authors: Piti Disyatat

Sep 2009

The systemic importance of financial institutions

BIS Quarterly Review September 2009

Other authors: Nikola Tarashev and Kostas Tsatsaronis

Jun 2009

Towards an operational framework for financial stability: "fuzzy" measurement and its consequences

Working Papers No 284

Other authors: Mathias Drehmann

Mar 2009

Assessing the risk of banking crises - revisited

BIS Quarterly Review March 2009

Other authors: Mathias Drehmann

Dec 2008

Capital regulation, risk-taking and monetary policy: a missing link in the transmission mechanism?

Working Papers No 268

Other authors: Haibin Zhu

Mar 2008

The financial turmoil of 2007-?: a preliminary assessment and some policy considerations

Working Papers No 251

Mar 2008

Monetary operations and the financial turmoil

BIS Quarterly Review March 2008

Other authors: William Nelson