Claudio Borio

Former Head of the Monetary and Economic Department

All BIS publications (94)

BIS Working Paper No 570 15 Jul 2016

Unconventional monetary policies: a re-appraisal

We explore the effectiveness and balance of benefits and costs of so-called "unconventional" monetary policy measures…

Claudio Borio

and

Anna Zabai

BIS Working Paper No 569 14 Jul 2016

Monetary policy, the financial cycle and ultra-low interest rates

Do the prevailing unusually and persistently low real interest rates reflect a decline in the natural rate of interest as…

Mikael Juselius

Claudio Borio

Piti Disyatat

and

Mathias Drehmann

BIS Working Paper No 552 21 Mar 2016

Fiscal sustainability and the financial cycle

A frequently neglected aspect of financial booms and busts - financial cycles - is their impact on fiscal positions. And yet,…

Claudio Borio

Marco Jacopo Lombardi

and

Fabrizio Zampolli

BIS Working Paper No 534 5 Jan 2016

Labour reallocation and productivity dynamics: financial causes, real consequences

We investigate the link between credit booms, productivity growth, labour reallocations and financial crises in a sample of…

Claudio Borio

Enisse Kharroubi

Christian Upper

and

Fabrizio Zampolli

BIS Working Paper No 525 20 Oct 2015

Capital flows and the current account: Taking financing (more) seriously

This paper questions the appropriateness of popular analytical frameworks that focus on current accounts or net capital flows…

Claudio Borio

and

Piti Disyatat

BIS Working Paper No 514 1 Oct 2015

The influence of monetary policy on bank profitability

This paper investigates how monetary policy affects bank profitability. We use data for 109 large international banks…

Claudio Borio

Leonardo Gambacorta

and

Boris Hofmann

Publication 18 Mar 2015

The costs of deflations: a historical perspective

Claudio Borio

Magdalena Erdem

Andrew J Filardo

and

Boris Hofmann

BIS Working Paper No 457 31 Aug 2014

The international monetary and financial system: a capital account historical perspective

Abstract of BIS Working Papers No 457 In analysing the performance of the international monetary and financial system (IMFS),…

Claudio Borio

Harold James

and

Hyun Song Shin

BIS Working Paper No 456 31 Aug 2014

The international monetary and financial system: its Achilles heel and what to do about it

Abstract of BIS Working Papers No 456 This essay argues that the Achilles heel of the international monetary and financial…

Claudio Borio

All external publications (130)

External publication 1 Jul 1996

The restructuring of the financial industry: implications for prudential regulation and supervision

Claudio Borio

External publication 1 May 1996

The anatomy of bond market turbulence

Robert N McCauley

and

Claudio Borio

External publication 1 Jan 1996

Credit characteristics and the monetary policy transmission mechanism in fourteen industrial countries: facts, conjectures and some econometric evidence

Claudio Borio

External publication 1 Dec 1995

Discussion of "Managing risk in payment and settlement systems: the role of private and public initiatives" by E Eisenbeis

Claudio Borio

External publication 1 Jan 1995

Payment and settlement systems: trends and risk management

Claudio Borio

External publication 1 Dec 1994

The changing borders of banking: trends and implications

Claudio Borio

and

Renato Filosa

External publication 1 Apr 1992

The linkages between taxation, private saving decisions, and financial intermediation: some international comparisons

Claudio Borio

and

Julian S Alworth

External publication 1 Mar 1991

Payment system arrangements and related policy issues: a cross-country comparison

Claudio Borio

Paul Van den Bergh

and

Daniela Russo

External publication 1 Dec 1990

Financial instability and the real economy

Claudio Borio

and

Horst Bockelmann

All speeches (76)

Speech 15 Nov 2018

On money, debt, trust and central banking

Keynote speech by Mr Claudio Borio, Head of the BIS Monetary and Economic Department at the Cato Institute, 36th Annual…

Claudio Borio

Fintech

Speech 24 Oct 2018

and

Hyun Song Shin

Speech 14 Aug 2018

The level of global debt concerns me

Translation of an interview with Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, with Portafolio,…

Claudio Borio

Speech 2 Aug 2018

Low inflation and rising global debt: just a coincidence?

Article by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, for the 70th anniversary of Zeitschrift…

Claudio Borio

Speech 24 Jun 2018

Macroprudential frameworks: experience, prospects and a way forward

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, on the occasion of the Bank's Annual…

Claudio Borio

Speech 27 Mar 2018

Claudio Borio interview with Market News International

Original quotes from interview with Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, with Market News…

Claudio Borio

Speech 10 Mar 2018

BIS Quarterly Review, March 2018 - media briefing

Claudio Borio

and

Hyun Song Shin

All videos (80)

01:33:37

Policy lessons and the future of unconventional monetary policy

Video 6 Nov 2015

Policy lessons and the future of unconventional monetary policy

Claudio Borio explains that today's persistently low rates are not "equilibrium" rates because of their long-term costs…

Claudio Borio

Lael Brainard

and

Maurice Obstfeld

00:16:09

EME vulnerabilities take centre stage

Video 11 Sep 2015

EME vulnerabilities take centre stage

Media briefing for the September 2015 BIS Quarterly Review.

Claudio Borio

and

Hyun Song Shin

00:17:19

Credit booms and credit busts

Video 10 Jul 2015

Credit booms and credit busts

In this interview, Claudio Borio speaks with INET's Marshall Auerback on the need to strengthen the macroprudential orientation…

Claudio Borio

00:20:23

Persistent unusually low interest rates. Why? What consequences?

Video 28 Jun 2015

Persistent unusually low interest rates. Why? What consequences?

In his presentation, Claudio Borio develops a core theme of the 85th BIS Annual Report, that persistent unusually low interest…

Claudio Borio

00:07:54

Is the unthinkable becoming routine?

Video 24 Jun 2015

Is the unthinkable becoming routine?

Media briefing for BIS 85th Annual Report.

Claudio Borio

01:48:06

The international monetary and financial system: its Achilles heel and what to do about it

Video 9 Apr 2015

The international monetary and financial system: its Achilles heel and what to do about it

In his presentation, Claudio Borio argues that the Achilles heel of the international monetary and financial system is that it…

Claudio Borio

and

Hélène Rey

00:49:24

Monetary policy: the new normal

Video 10 Oct 2014

Monetary policy: the new normal

Claudio Borio participates in a panel discussion at the IIF's Annual Meeting. (Claudio Borio at 20:39, 35:09 and 54:44)

Claudio Borio

Vítor Constâncio

and

Martin Feldstein

00:29:49

Macroprudential policy and the financial cycle: some stylised facts and policy suggestions

Video 16 Apr 2013

Macroprudential policy and the financial cycle: some stylised facts and policy suggestions

In his panel remarks, Claudio Borio maintains that the financial cycle - which is the main source of systemic risk - should be…

Claudio Borio

and

Stanley Fischer

All podcasts (17)

00:46:22

Podcast 9 Dec 2024

Media briefing on the BIS Quarterly Review, December 2024

Claudio Borio and Hyun Song Shin summarise the December 2024 Quarterly Review and answer journalists' questions about financial…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:32:03

Podcast 16 Sep 2024

Media briefing on the BIS Quarterly Review, September 2024

Claudio Borio and Hyun Song Shin summarise the September 2024 Quarterly Review and answer journalists' questions about…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:17:46

Podcast 30 Jun 2024

Monetary policy in the 21st century: lessons learned and challenges ahead

Claudio Borio discusses the lessons learned for monetary policy from the extraordinary events of the past 25 years, and looks…

Claudio Borio

0:00 0:00

00:32:21

Podcast 4 Mar 2024

Media briefing on the BIS Quarterly Review, March 2024

Claudio Borio and Hyun Song Shin summarise the March 2024 Quarterly Review and answer journalists' questions about financial…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:50:58

Podcast 8 Jan 2024

The future of central bank operating systems

Claudio Borio talks about central bank operating systems and the challenge of large balance sheets at central banks.

Claudio Borio

0:00 0:00

00:37:10

Podcast 4 Dec 2023

Media briefing on the BIS Quarterly Review, December 2023

Claudio Borio and Hyun Song Shin summarise the December 2023 Quarterly Review and answer journalists' questions about financial…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:35:42

Podcast 18 Sep 2023

Media briefing on the BIS Quarterly Review, September 2023

Claudio Borio and Hyun Song Shin summarise the September 2023 Quarterly Review and answer journalists' questions about…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:29:00

Podcast 4 Jul 2023

Why central banks cannot relax in inflation fight

Claudio Borio speaks to Francesco Guerrera about inflation, monetary policy and financial stability risks.

Claudio Borio

0:00 0:00

00:26:06

Podcast 25 Jun 2023

Monetary and fiscal policy interactions

Claudio Borio offers a historic perspective on the interaction of fiscal and monetary policy to better understand the…

Claudio Borio

0:00 0:00

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Claudio Borio

Former Head of the Monetary and Economic Department

All BIS publications (94)

Unconventional monetary policies: a re-appraisal

Monetary policy, the financial cycle and ultra-low interest rates

Fiscal sustainability and the financial cycle

Labour reallocation and productivity dynamics: financial causes, real consequences

Capital flows and the current account: Taking financing (more) seriously

The influence of monetary policy on bank profitability

The costs of deflations: a historical perspective

The international monetary and financial system: a capital account historical perspective

The international monetary and financial system: its Achilles heel and what to do about it

All external publications (130)

The restructuring of the financial industry: implications for prudential regulation and supervision

The anatomy of bond market turbulence

Credit characteristics and the monetary policy transmission mechanism in fourteen industrial countries: facts, conjectures and some econometric evidence

Discussion of "Managing risk in payment and settlement systems: the role of private and public initiatives" by E Eisenbeis

Payment and settlement systems: trends and risk management

The changing borders of banking: trends and implications

The linkages between taxation, private saving decisions, and financial intermediation: some international comparisons

Payment system arrangements and related policy issues: a cross-country comparison

Financial instability and the real economy

All speeches (76)

On money, debt, trust and central banking

New loan provisioning standards and procyclicality

The 'real' illusion: How monetary factors matter in low-for-long rates

BIS Quarterly Review, September 2018 - media briefing

The level of global debt concerns me

Low inflation and rising global debt: just a coincidence?

Macroprudential frameworks: experience, prospects and a way forward

Claudio Borio interview with Market News International

BIS Quarterly Review, March 2018 - media briefing

All videos (80)

Policy lessons and the future of unconventional monetary policy

EME vulnerabilities take centre stage

Credit booms and credit busts

Persistent unusually low interest rates. Why? What consequences?

Is the unthinkable becoming routine?

The international monetary and financial system: its Achilles heel and what to do about it

Monetary policy: the new normal

Macroprudential policy and the financial cycle: some stylised facts and policy suggestions

All podcasts (17)

Media briefing on the BIS Quarterly Review, December 2024

Media briefing on the BIS Quarterly Review, September 2024

Monetary policy in the 21st century: lessons learned and challenges ahead

Media briefing on the BIS Quarterly Review, March 2024

The future of central bank operating systems

Media briefing on the BIS Quarterly Review, December 2023

Media briefing on the BIS Quarterly Review, September 2023

Why central banks cannot relax in inflation fight

Monetary and fiscal policy interactions

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