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Gaston Gelos

Gaston Gelos

Deputy Head of the Monetary and Economic Department and Head of Financial Stability Policy
Monetary and Economic Department
gaston.gelos@bis.org

Gaston Gelos is Deputy Head of the Monetary and Economic Department and Head of Financial Stability Policy, and a member of the Bank's senior management team.

Mr Gelos represents the BIS externally in senior groups, including the Financial Stability Board and the Basel Committee on Banking Supervision. Within the BIS, he leads policy-based analyses of financial sector issues and oversees the work of the secretariats of the Committee on the Global Financial System, the Markets Committee, and the Committee on Payments and Market Infrastructures.

He joined the BIS in September 2023 from the International Monetary Fund (IMF), where he served in various senior roles, including as head of the Monetary and Macroprudential Policies Division and previously as head of the Global Financial Stability Analysis Division. Other positions at the IMF included stints as Resident Representative to Argentina and Uruguay, as Advisor in the IMF Institute, and as Mission Chief for Mexico, among others.

Mr Gelos's research has focused mainly on financial stability, monetary policy and capital flows, and has been published widely in leading academic journals. Mr Gelos holds a PhD from Yale University and a Diplom from Bonn University. He is a CEPR Research Fellow.

Fields of interest
  • Financial intermediation
  • Macro-financial issues
  • International finance
  • Banking

All BIS publications (5)

All external publications (90)

All videos (7)

Video 23 Jun 2026
Tokenisation, stablecoins and the future of money - upgrading the two-tier system
Video 22 Jun 2026
BIS Media Briefing - Anchoring trust in money: innovation beyond stablecoins
Frank Smets and Gaston Gelos brief the media on the main messages of Chapter III of the Annual Economic Report.
Video 5 Dec 2025
Media briefing on the BIS Quarterly Review, December 2025
Hyun Song Shin summarises the December 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers…
Video 12 Sep 2025
Media briefing on the BIS Quarterly Review, September 2025
Hyun Song Shin summarises the September 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers…
Video 29 Jun 2025
Financial conditions in a changing global financial system
Gaston Gelos explains what the increasing footprint of non-banks and rising sovereign debt means for the global financial…
Video 10 Mar 2025
Media briefing on the BIS Quarterly Review, March 2025
Hyun Song Shin summarises the March 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers journalists…
Video 6 Feb 2025
Welcome remarks and Session 1 - Evolving global financial conditions under heightened uncertainty
Welcome remarks by Alexandre Tombini and Ana Aguilar (BIS) Presentation: "Evolving global financial conditions under…

All podcasts (7)

00:13:36
Frank Smets and Gaston Gelos with BISness podcast branding
Podcast 23 Jun 2026
Anchoring trust in a digital era - tokenisation, stablecoins and the two tier system
Frank Smets and Gaston Gelos discuss how digital innovation can be harnessed to modernise the financial system, as long as…
0:00 0:00
00:37:43
Annual Economic Report cover graph with BISness podcast brand identity
Podcast 22 Jun 2026
BIS Media Briefing - Anchoring trust in money: innovation beyond stablecoins
Frank Smets and Gaston Gelos brief the media on the main messages of Chapter III of the Annual Economic Report.
0:00 0:00
00:32:14
Frank Smets, Hyun Song Shin and Gaston Gelos with BISness podcast branding
Podcast 16 Mar 2026
Media briefing on the BIS Quarterly Review, March 2026
Hyun Song Shin summarises the March 2026 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers journalists…
0:00 0:00
00:24:14
Frank Smets, Hyun Song Shin and Gaston Gelos with BISness podcast branding
Podcast 5 Dec 2025
Media briefing on the BIS Quarterly Review, December 2025
Hyun Song Shin summarises the December 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers…
0:00 0:00
00:14:52
Gaston Gelos and Frank Packer with BISness podcast branding
Podcast 27 Oct 2025
Shifts in the life insurance industry
Gaston Gelos and Frank Packer discuss how the life insurance industry's transformation since the Great Financial Crisis has…
0:00 0:00
00:46:11
qt2503_briefing_podcast_.jpg
Podcast 12 Sep 2025
Media briefing on the BIS Quarterly Review, September 2025
Hyun Song Shin summarises the September 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers…
0:00 0:00
00:35:29
qt2503_briefing_podcast_.jpg
Podcast 10 Mar 2025
Media briefing on the BIS Quarterly Review, March 2025
Hyun Song Shin summarises the March 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers journalists…
0:00 0:00

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