BIS Latest Update - June 2025: Trust, Stability And Tokenisation

June 2025

Trust and macroeconomic stability: a virtuous circle

Agustín Carstens says earning and retaining trust is essential for public policy to be effective.

Structural changes in the global financial system and the transmission of financial conditions

Hyun Song Shin highlights how the global financial system has transformed since the Great Financial Crisis and the implications.

Basel III implementation

The oversight body of the Basel Committee has reaffirmed its expectation to implement Basel III.

House prices

Global house prices continued declining by 1.6% year on year in real terms during the fourth quarter of 2024.

The history of the BIS

Andréa M Maechler and Tobias Straumann discuss the changing role of the BIS over the last 95 years.

Project Pine

The project explored how monetary policy operations could be implemented if tokenisation is widely adopted in wholesale financial markets.

G20 TechSprint 2025

The BIS and the South African Reserve Bank call for solutions to address trust and integrity in scalable and open finance.

DeFiying gravity? An empirical analysis of cross-border Bitcoin, Ether and stablecoin flows

Crypto defies geographic barriers, can aid remittances, but may challenge capital controls.

More BIS publications

Working Paper: Towards verifiability of total value locked (TVL) in decentralized finance
Total value locked (TVL) measures the value deposited in decentralised finance, but it is not standardised. This paper suggests a new metric, vTVL, that would improve transparency.

FSI Brief: Rethinking banks' liquidity requirements
By combining self-insurance minimum requirements with central bank liquidity support, banks are better equipped to navigate extreme stress scenarios.

Working Paper: Collateralised lending in private credit
Collateralised lending is transforming the private credit market. How do rising house prices amplify secured lending and what does this mean for policy?

Upcoming

11 June: Fernando Restoy speaks at a Bank of Finland - SUERF conference on regulatory policies and central bank liquidity.
27 June: Gaston Gelos speaks at a Bank of Finland-Rikslab-ESRB conference on systemic risk analysis.
29 June: BIS Annual Economic Report and Annual Report published.