Monetary and Economic Department, Financial Stability Policy
costas.stephanou@bis.org
Costas Stephanou joined the BIS in mid-2025 from the Financial Stability Board (FSB), where he led the Financial Stability Analysis unit. In that role, he oversaw the FSB's work to assess vulnerabilities in the global financial system, including with respect to non-bank financial intermediation, technological innovation and climate change. He was also responsible until mid-2024 for the FSB's work to monitor the implementation of G20 financial reforms and evaluate their effects. Prior to that, Costas worked as a Senior Financial Economist at the World Bank, a risk management consultant and in risk management and strategy for a commercial bank. He holds degrees in economics and public policy from the universities of Cambridge and Harvard, respectively.
Fields of interest
Financial institutions and micro-prudential issues
