Bryan Hardy

Senior Economist

Monetary and Economic Department, International Finance

bryan.hardy@bis.org

Bryan Hardy joined the BIS in 2018 after completing his PhD in economics earlier that year from the University of Maryland, College Park. Before joining the International Finance unit, he worked in the Financial Systems and Regulation and International Banking and Financial Statistics units.

Fields of interest

International finance
International capital flows
Financial stability and macro-prudential issues

All BIS publications (34)

BIS Working Paper No 1369 20 Jul 2026

The evolving nexus: sovereigns, banks and NBFIs

This paper documents that the traditional sovereign-bank nexus has morphed into a broader nexus that now also includes NBFIs.

About the BIS

Careers at the BIS

Research & publications

BIS authors

About the Committees

Speeches

Data Portal

Media centre

Bryan Hardy

Senior Economist

Fields of interest

All BIS publications (34)

The evolving nexus: sovereigns, banks and NBFIs

Global pension asset allocations and debt markets

Reallocation of liabilities to the ultimate obligor

International finance through the lens of BIS statistics: offshore activity

FX debt and optimal exchange rate hedging

What is needed for convergence? The role of finance and capital

International finance through the lens of BIS statistics: the international dimensions of credit

International finance through the lens of BIS statistics: the geography of banks' operations

Trade credit and exchange rate risk pass through

All external publications (15)

New spare tires: local currency credit as a global shock absorber

Innovation convergence

Who holds sovereign debt and why it matters

What is needed for convergence? The role of capital and finance

From carry trades to trade credit: financial intermediation by non-financial firms

New spare tires: local currency credit as a global shock absorber

Sovereign risk and bank lending: evidence from 1999 Turkish earthquake

Foreign currency borrowing, balance sheet shocks, and real outcomes

Gross capital flows by banks, corporates, and sovereigns

All videos (2)

Global liquidity: the dawn of a new phase?

Covid, central banks and the bank-sovereign nexus

You might also be interested in

Publications

Speeches

Media releases