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New research explores how monetary and macroprudential tightening interact on credit. It highlights how bank diversity shapes lending, costs and risks in a double-tightening environment. Policy coordination matters. #MonetaryPolicy #FinancialStability bis.org/publ/work1257.…

The economics of distributed ledgers and the limits of decentralised money Raphael Auer Raphael Auer Bank for International Settlements, Cyril Monnet Universität Bern, Hyun Song Shin Hyun Song Shin Bank for International Settlements ow.ly/aNcC50Vxbmt

Project Meridian FX, from the @BISInnovationHub plus Bank of England Banque de France Banca d'Italia Deutsche Bundesbank and European Central Bank proves that wholesale payment infrastructures can be interoperable via new technologies for FX transactions. Learn how here bis.org/publ/othp94.htm

I found this video by MIT Professor Andrej Karpathy really worth the time (3½ hours). A non-technical walkthrough on creating an LLM chatbot like ChatGPT. youtu.be/7xTGNNLPyMI?si…

📢 VIMM Seminar 📢 Next week, Sarah Lein (Universität Basel) will present her paper "The Granular Origins of Inflation" Virtual Israel Macro Meeting (VIMM) Registration: vimacro.org/attend Info/Paper: vimacro.org/sarah-lein-gra… #EconTwitter #EconX #Research #Economics #International #BarcodePrices

Join the BIS Innovation Hub in Frankfurt, Paris, Hong Kong, London, Basel, Stockholm, Singapore, or Toronto. We have a number of secondment opportunities. Duration is typically 6-18 months. Find here more information on the job and how to apply: lde.tbe.taleo.net/lde01/ats/care…

📢 VIMM Seminar 📢 Tomorrow, Sarah Lein (Universität Basel) will present her paper "The Granular Origins of Inflation" Virtual Israel Macro Meeting (VIMM) Registration: vimacro.org/attend Info/Paper: vimacro.org/sarah-lein-gra… #EconTwitter #EconX #Research #Economics #International #BarcodePrices

Speculation or transaction? Cross-border crypto flows involving more than 180 countries from 2017 to mid-2024 peaked at $800 billion per quarter in late 2021. Crypto defies geographic barriers, can aid remittances, but may challenge capital controls bis.org/publ/work1265.…

Link to stablecoin paper is: bis.org/publ/work1265.…

We must prepare our financial system for quantum threats. A new paper shows how: bis.org/publ/bppdf/bis… #Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, Danica...