Hyun Song Shin

All BIS publications (77)

BIS Working Paper No 1121 7 Sep 2023

Margins, debt capacity, and systemic risk

Debt capacity depends on margins. When set in a financial system context with collateralized borrowing, two additional features…

Sirio Aramonte

Andreas Schrimpf

and

Hyun Song Shin

BIS Working Paper No 1109 7 Jul 2023

Original sin redux: role of duration risk

We highlight the role of duration and exchange rate risks on portfolio flows by using a unique and comprehensive database of US…

Carol Bertaut

Valentina Bruno

and

Hyun Song Shin

BIS Bulletin No 73 11 Apr 2023

Stablecoins versus tokenised deposits: implications for the singleness of money

Private tokenised monies that circulate as bearer instruments, like stablecoins, may entail departures in their relative…

Rodney Garratt

and

Hyun Song Shin

BIS Working Paper No 1075 21 Feb 2023

Overcoming original sin: insights from a new dataset

This paper introduces a new dataset on emerging market sovereign bonds, distinguishing between the currency of denomination and…

Mert Onen

Hyun Song Shin

and

Goetz von Peter

BIS Working Paper No 1070 25 Jan 2023

Theory of supply chains: a working capital approach

This paper presents a "time-to-build" theory of supply chains which implies a key role for the financing of working capital as…

Se-Jik Kim

and

Hyun Song Shin

BIS Working Paper No 1065 19 Jan 2023

The Bank of Amsterdam and the limits of fiat money

Central banks can operate with negative equity, and many have done so in history without undermining trust in fiat money…

Wilko Bolt

Jon Frost

Hyun Song Shin

and

Peter Wierts

BIS Working Paper No 1057 13 Dec 2022

Macro-financial stability frameworks: experience and challenges

Since the 2008–9 Great Financial Crisis, major advanced economies (AEs) have used monetary and macroprudential policies…

Claudio Borio

Ilhyock Shim

and

Hyun Song Shin

BIS Working Paper No 1053 22 Nov 2022

How abundant are reserves? Evidence from the wholesale payment system

Before the era of large central bank balance sheets, banks relied on incoming payments to fund outgoing payments in order to…

Gara Afonso

Darrell Duffie

Lorenzo Rigon

and

Hyun Song Shin

BIS Working Paper No 1031 15 Jul 2022

Risk capacity, portfolio choice and exchange rates

We assess how swings in exchange rates affect global bond investors' portfolio allocations to emerging market economy (EME)…

Boris Hofmann

Ilhyock Shim

and

Hyun Song Shin

All external publications (128)

External publication 28 Sep 2016

Conceptual challenges in international finance

Robert N McCauley

Hyun Song Shin

and

Stefan Avdjiev

External publication 1 Jul 2016

Breaking free of the triple coincidence in international finance

Robert N McCauley

Hyun Song Shin

and

Stefan Avdjiev

External publication 1 Jul 2016

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

Claudio Borio

and

Hyun Song Shin

External publication 1 May 2016

Common belief foundations of global games

Hyun Song Shin

Stephen Morris

and

Muhamet Yildiz

External publication 1 Apr 2015

Global liquidity through the lens of monetary aggregates

Hyun Song Shin

Kyuil Chung

Jong-Eun Lee

and

Elena Loukoianova

External publication 1 Apr 2015

Cross-border banking and global liquidity

Hyun Song Shin

and

Valentina Bruno

External publication 1 Apr 2015

Capital flows and the risk-taking channel of monetary policy

Hyun Song Shin

and

Valentina Bruno

External publication 1 Feb 2014

Procyclical leverage and value-at-risk

Hyun Song Shin

and

Tobias Adrian

External publication 1 Jan 2014

Assessing macroprudential policies: case of South Korea

Hyun Song Shin

and

Valentina Bruno

All videos (103)

00:02:07

Central banks and payments in the digital era

Video 24 Jun 2020

Central banks and payments in the digital era

Hyun Song Shin discusses how central banks must keep evolving to meet the challenge of rapidly accelerating digital innovation,…

Hyun Song Shin

01:04:59

Central banks and payments in the digital era: media briefing on Chapter III of the Annual Economic Report 2020

Video 23 Jun 2020

Central banks and payments in the digital era: media briefing on Chapter III of the Annual Economic Report 2020

Shin and Cœuré brief the media on the main messages of the special chapter of the Annual Economic Report.

Hyun Song Shin

and

Benoît Coeuré

01:05:34

Capital flows and "original sin redux"

Video 1 Mar 2020

Capital flows and "original sin redux"

Hyun Song Shin explains why borrowing in local currency has not made emerging markets immune to a pandemic-induced financial…

Hyun Song Shin

01:48:57

2020 AFA panel session: Fintech, financial stability and regulation

Video 3 Jan 2020

2020 AFA panel session: Fintech, financial stability and regulation

Examines issues surrounding the rise of fintechs, including the effects on financial stability, competition and financial…

Hyun Song Shin

00:02:24

Big tech in finance: opportunities and risks

Video 30 Jun 2019

Big tech in finance: opportunities and risks

Hyun Song Shin discusses big tech and finance, Facebook's Libra announcement and associated topics.

Hyun Song Shin

00:22:55

Big tech in finance: opportunities and risks

Video 30 Jun 2019

Big tech in finance: opportunities and risks

Hyun Song Shin discusses the entry of big tech companies into financial services and the new challenges this poses for…

Hyun Song Shin

01:12:04

Global imbalances and the international footprint of firms: what role for exchange rates?

Video 10 Apr 2019

Global imbalances and the international footprint of firms: what role for exchange rates?

The accounting basis for macroeconomics is looking increasingly creaky in an age of global firms and global value chains. Key…

Hyun Song Shin

00:10:03

We are living in a world with interconnected balance sheets, says BIS's Shin

Video 12 Nov 2018

We are living in a world with interconnected balance sheets, says BIS's Shin

Hyun Song Shin (Economic Adviser and Head of Research) speaks to Bloomberg about emerging market economies 20 years after the…

Hyun Song Shin

00:18:46

Cryptocurrencies and the economics of money

Video 24 Jun 2018

Cryptocurrencies and the economics of money

Hyun Song Shin explains why, despite all the hype, cryptocurrencies are a far cry from money.

Hyun Song Shin

All podcasts (40)

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…

Frank Smets

Hyun Song Shin

and

Gaston Gelos

0:00 0:00

00:24:14

Huyn Song Shin, Goetz von Peter and Andreas Schrimpf with BISness podcast branding

Podcast 8 Dec 2025

Shifting currents in FX and interest rate derivatives

Listen to the BISness podcast of Hyun Song Shin, Andreas Schrimpf and Goetz von Peter discussing the analysis of the BIS…

Goetz von Peter

Hyun Song Shin

and

Andreas Schrimpf

0:00 0:00

00:24:14

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…

Frank Smets

Hyun Song Shin

and

Gaston Gelos

0:00 0:00

00:49:25

Podcast 23 Oct 2025

Why the world started hedging its US Dollar exposure

Hyun Song Shin speaks to Odd Lots about the weaker US dollar in 2025 and the role of hedging strategies.

Hyun Song Shin

0:00 0:00

00:46:11

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…

Frank Smets

Hyun Song Shin

and

Gaston Gelos

0:00 0:00

00:23:23

Podcast 2 Jul 2025

Stablecoins

Top central bankers aren't impressed with the global stablecoin craze. Host Carmel Crimmins from Thomson Reuters talks to Hyun…

Hyun Song Shin

0:00 0:00

00:23:47

Podcast 29 Jun 2025

Stability amid uncertainty

Agustín Carstens and Hyun Song Shin discuss the trade disruptions and policy uncertainty that are clouding the global economic…

Hyun Song Shin

and

Agustín Carstens

0:00 0:00

Podcast 26 Jun 2025

BIS Media Briefing - Annual Economic Report 2025

Agustín Carstens, Andréa M Maechler and Hyun Song Shin brief the media on the main messages of the Annual Economic Report.

Hyun Song Shin

Agustín Carstens

and

Andréa M Maechler

0:00 0:00

00:19:57

Podcast 24 Jun 2025

The next-generation monetary and financial system

Hyun Song Shin explains how tokenised platforms with central bank reserves, commercial bank money and government bonds can…

Hyun Song Shin

0:00 0:00

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All BIS publications (77)

Margins, debt capacity, and systemic risk

Original sin redux: role of duration risk

Stablecoins versus tokenised deposits: implications for the singleness of money

Overcoming original sin: insights from a new dataset

Theory of supply chains: a working capital approach

The Bank of Amsterdam and the limits of fiat money

Macro-financial stability frameworks: experience and challenges

How abundant are reserves? Evidence from the wholesale payment system

Risk capacity, portfolio choice and exchange rates

All external publications (128)

Conceptual challenges in international finance

Breaking free of the triple coincidence in international finance

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

Common belief foundations of global games

Global liquidity through the lens of monetary aggregates

Cross-border banking and global liquidity

Capital flows and the risk-taking channel of monetary policy

Procyclical leverage and value-at-risk

Assessing macroprudential policies: case of South Korea

All speeches (65)

Financial stability risks: old and new

The changing face of financial intermediation

All videos (103)

Central banks and payments in the digital era

Central banks and payments in the digital era: media briefing on Chapter III of the Annual Economic Report 2020

Capital flows and "original sin redux"

2020 AFA panel session: Fintech, financial stability and regulation

Big tech in finance: opportunities and risks

Big tech in finance: opportunities and risks

Global imbalances and the international footprint of firms: what role for exchange rates?

We are living in a world with interconnected balance sheets, says BIS's Shin

Cryptocurrencies and the economics of money

All podcasts (40)

Media briefing on the BIS Quarterly Review, March 2026

Shifting currents in FX and interest rate derivatives

Media briefing on the BIS Quarterly Review, December 2025

Why the world started hedging its US Dollar exposure

Media briefing on the BIS Quarterly Review, September 2025

Stablecoins

Stability amid uncertainty

BIS Media Briefing - Annual Economic Report 2025

The next-generation monetary and financial system

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