Claudio Borio

Claudio Borio

Former Head of the Monetary and Economic Department

Claudio Borio was appointed Head of the Monetary and Economic Department on 18 November 2013.

At the BIS since 1987, Mr Borio has held various positions in the Monetary and Economic Department (MED), including Deputy Head of MED and Director of Research and Statistics as well as Head of Secretariat for the Committee on the Global Financial System and the Gold and Foreign Exchange Committee (now the Markets Committee).

From 1985 to 1987, he was an economist at the OECD, working in the country studies branch of the Economics and Statistics Department. Prior to that, he was Lecturer and Research Fellow at Brasenose College, Oxford University. He holds a DPhil and an MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university.

All BIS publications (94)

BIS Working Paper No 40 1 Mar 1997
Monetary policy operating procedures in industrial countries
Abstract of BIS Working Papers No. 40
By
Claudio Borio
BIS Economic Paper No 45 1 Jul 1996
The economics of recent bond yield volatility
The extreme fluctuations in yields that swept bond markets in 1994 surprised traders, portfolio managers, treasurers and…
By
Claudio Borio
and
Robert N McCauley
BIS Working Paper No 32 22 Dec 1995
The anatomy of the bond market turbulence of 1994
Abstract of BIS Working Papers No. 32
By
Robert N McCauley
and
Claudio Borio
BIS Working Paper No 27 21 May 1995
The response of short-term bank lending rates to policy rates: a cross-country perspective
Abstract of BIS Working Papers No. 27
By
Claudio Borio
and
Wilhelm Fritz
BIS Working Paper No 24 20 Apr 1995
The structure of credit to the non-goverment sector and the transmission mechanism of monetary policy: a cross-country comparison
Abstract of BIS Working Papers No. 24
By
Claudio Borio
BIS Economic Paper No 43 1 Dec 1994
The changing borders of banking: trends and implications
Imagine that a banker, economist or policy-maker had been away from civilisation for the last fifteen years or so and finally…
By
Claudio Borio
and
Renato Filosa
BIS Working Paper No 23 20 Oct 1994
The changing borders of banking: trends and implications
Abstract of BIS Working Papers No. 23
By
Claudio Borio
and
Renato Filosa
BIS Economic Paper No 40 2 Apr 1994
Exploring aggregate asset price fluctuations across countries: measurement, determinants and monetary policy implications
Asset prices have undergone major medium-term fluctuations since the early 1980s, sometimes ending in sharp downward…
By
Claudio Borio
,
Neale Kennedy
and
Stephen D Prowse
BIS Economic Paper No 37 1 Apr 1993
Commercial paper markets: a survey
Commercial paper is a type of fixed-maturity unsecured short-term negotiable debt issued generally in bearer form and primarily…
By
Julian S Alworth
and
Claudio Borio

All external publications (130)

External publication 1 Jul 1996
The restructuring of the financial industry: implications for prudential regulation and supervision
in The future of the financial system
By
Claudio Borio
External publication 1 May 1996
The anatomy of bond market turbulence
in Risk management in volatile financial markets
By
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
in Monetary policy in a converging Europe
By
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
in Journal of Financial Services Research
By
Claudio Borio
External publication 1 Jan 1995
Payment and settlement systems: trends and risk management
in Research in Financial Services and Public Policy
By
Claudio Borio
External publication 1 Dec 1994
The changing borders of banking: trends and implications
in SUERF Paper on Monetary Policy and Financial Systems
By
Claudio Borio
and
Renato Filosa
External publication 1 Apr 1992
The linkages between taxation, private saving decisions, and financial intermediation: some international comparisons
in Fiscal policy, taxation and the financial system in an increasingly integrated Europe
By
Claudio Borio
and
Julian S Alworth
External publication 1 Mar 1991
Payment system arrangements and related policy issues: a cross-country comparison
in Payment system issues in the perspective of European Monetary Unification
By
Claudio Borio
,
Paul Van den Bergh
and
Daniela Russo
External publication 1 Dec 1990
Financial instability and the real economy
in De Economist
By
Claudio Borio
and
Horst Bockelmann

All speeches (76)

Speech 9 Apr 2015
The international monetary and financial system: Its Achilles heel and what to do about it
Presentation by Mr Claudio Borio, Head of Monetary and Economic Department of the BIS, at the INET conference "New Economic…
By
Claudio Borio
Speech 13 Aug 2014
Macroprudential frameworks: (too) great expectations?
Contribution by Mr Claudio Borio, Head of the Monetary and Economic Department of the Bank for International Settlements, to…
By
Claudio Borio
Speech 29 Jun 2014
The financial cycle, the debt trap and secular stagnation
Presentation by Claudio Borio, Head of the Monetary and Economic Department, on the occasion of the Bank's Annual General…
By
Claudio Borio
Speech 9 Nov 2012
On time, stocks and flows: Understanding the global macroeconomic challenges
Essay prepared for a lecture by Claudio Borio, Deputy Head of Monetary and Economic Department and Director of Research and…
By
Claudio Borio

All videos (80)

00:11:55
sp200630a_250.jpg
The prudential response to the Covid-19 crisis
Video 30 Jun 2020
The prudential response to the Covid-19 crisis
Borio outlines central banks’ Covid-19 response as regulators and supervisors, notably encouraging banks to use capital buffers…
By
Claudio Borio
00:02:19
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AER 2020
Video 30 Jun 2020
AER 2020
Once again, the world’s central banks were at the forefront of the policy defence during a severe crisis. Agustín Carstens and…
By
Claudio Borio
and
Agustín Carstens
00:49:18
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Media briefing on the Annual Economic Report 2020 and Annual Report 2019/20
Video 29 Jun 2020
Media briefing on the Annual Economic Report 2020 and Annual Report 2019/20
Carstens, Pereira, Borio and Shin brief the media on the main messages of the BIS's Annual Economic Report and Annual Report…
By
Claudio Borio
,
Hyun Song Shin
and
Agustín Carstens
02:34:51
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Borio at BCL conference on future of international monetary and financial system
Video 17 Sep 2019
Borio at BCL conference on future of international monetary and financial system
In a panel discussion, Borio (at 38:10) explains what is wrong with the international monetary and financial system, and what…
By
Claudio Borio
,
Jean Tirole
,
Maurice Obstfeld
,
Gaston Reinesch
,
Gita Gopinath
and
Hélène Rey
00:01:57
ar2019e2.jpg
Monetary policy frameworks in EMEs: inflation targeting, the exchange rate and financial stability
Video 30 Jun 2019
Monetary policy frameworks in EMEs: inflation targeting, the exchange rate and financial stability
Claudio Borio explains the particular challenges for emerging market central banks in setting monetary policy and the multiple…
By
Claudio Borio
00:18:16
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Monetary policy frameworks in EMEs: practice ahead of theory
Video 30 Jun 2019
Monetary policy frameworks in EMEs: practice ahead of theory
Claudio Borio explains the particular challenges for emerging market central banks in setting monetary policy and the multiple…
By
Claudio Borio
00:54:47
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On money, debt, trust and central banking
Video 15 Nov 2018
On money, debt, trust and central banking
In this keynote address, Borio addresses issues like the relationship between money and debt, the viability of cryptocurrencies…
By
Claudio Borio
00:18:52
agm18_borio.jpg
Macroprudential frameworks: experience, prospects and a way forward
Video 24 Jun 2018
Macroprudential frameworks: experience, prospects and a way forward
Claudio Borio speaks on macroprudential frameworks past, present and future.
By
Claudio Borio
00:02:18
180617_borio.jpg
Moving forward with macroprudential frameworks
Video 17 Jun 2018
Moving forward with macroprudential frameworks
Claudio Borio speaks about Chapter IV of the Annual Economic Report 2018.
By
Claudio Borio

All podcasts (17)

00:46:22
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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…
By
Claudio Borio
and
Hyun Song Shin
0:00 0:00
00:32:03
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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…
By
Claudio Borio
and
Hyun Song Shin
0:00 0:00
00:17:46
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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…
By
Claudio Borio
0:00 0:00
00:32:21
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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…
By
Claudio Borio
and
Hyun Song Shin
0:00 0:00
00:50:58
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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. 
By
Claudio Borio
0:00 0:00
00:37:10
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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…
By
Claudio Borio
and
Hyun Song Shin
0:00 0:00
00:35:42
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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…
By
Claudio Borio
and
Hyun Song Shin
0:00 0:00
00:29:00
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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.
By
Claudio Borio
0:00 0:00
00:26:06
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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…
By
Claudio Borio
0:00 0:00

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