In a speech to the 91st BIS AGM, Agustín Carstens and Benoît Cœuré updated governors on the work of the Innovation Hub two years after it was created, and the ongoing work on Central Bank Digital Currencies.

Nexus is a blueprint to connect multiple instant payment systems. It aims to enable cross-border payments in less than 60 seconds. https://www.bis.org/about/bisih/topics/fmis/nexus.htm

Central bank digital currencies (CBDCs) have the potential to enhance the efficiency of cross-border payments, as long as countries work together. This is the main conclusion of a joint report released by the Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank. https://www.bis.org/publ/othp38.htm

Mark Carney delivers the 2021 Andrew Crockett Memorial Lecture, followed by a Q&A moderated by BIS General Manager Agustín Carstens.

In his speech at the 91st BIS AGM, Claudio Borio reflects on the relationship between monetary policy and inequality. https://www.bis.org/speeches/sp210629a.htm

In his speech at the 91st BIS AGM, Hyun Song Shin lays out the design choices that can help put central bank digital currencies into practice. https://www.bis.org/speeches/sp210629b.htm

Agustín Carstens lays out the issues for policymakers in exiting the pandemic and ensuring sustainable growth. https://www.bis.org/speeches/sp210629.htm

In the year that marked the BIS’s 90th anniversary, the BIS and its staff kept innovating to meet central banks’ evolving needs – despite the headwinds of the global pandemic.
Read the Annual Report 2020/21: https://www.bis.org/about/areport/areport2021.pdf

Agustín Carstens explains the challenges thrown up by an uneven economic recovery and the complications on the path to sustainable growth, as outlined in the 2021 Annual Economic Report. https://www.bis.org/publ/arpdf/ar2021e1.htm

Claudio Borio discusses the nexus between inequality and monetary policy, as outlined in Chapter II of the BIS Annual Economic Report. Long-term trends in inequality are not a monetary phenomenon, but there is a lot that monetary policy can do to foster a more equitable distribution over business cycles. https://www.bis.org/publ/arpdf/ar2021e2.htm

Carstens, Borio and Shin brief the media on the main messages of the Annual Economic Report.

Moderated by Cecilia Skingsley, First Deputy Governor, Sveriges Riksbank
Panellists: Andréa M Maechler, Member of the Governing Board of the Swiss National Bank; Nor Shamsiah Mohd Yunus, Governor of the Central Bank of Malaysia; Claudia Buch, Vice President of the Deutsche Bundesbank

Atif Mian speaks about indebted demand, followed by a discussion with Evi Pappa.

Atif Mian speaks about indebted demand, followed by a discussion with Evi Pappa.

Shin and Cœuré brief the media on the main messages of Chapter III of the Annual Economic Report. https://www.bis.org/publ/arpdf/ar2021e3.htm

Hyun Song Shin discusses how central bank digital currencies are moving from concept to practical design, renewing the institution of money for the digital age, as outlined in Chapter III of the BIS Annual Economic Report. https://www.bis.org/publ/arpdf/ar2021e3.htm

Concluding panel

Central banks and climate change: how to manage expectations, balance actions and communication and contribute to coordinate with other important actors?

Panellists: Agustín Carstens (BIS), Christine Lagarde (ECB), Yi Gang (People’s Bank of China), Jerome Powell (Federal Reserve Board of Governors), François Villeroy de Galhau (Banque de France; NGFS). Moderator: Gillian Tett (Financial Times)

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

Agustín Carstens speaks at the BNP Paribas 2021 Global Official Institutions conference and says the global economy has rebounded strongly after Covid-19, but the recovery is uneven and incomplete. https://www.bis.org/speeches/sp210609.htm

Luiz Pereira da Silva draws the main messages of the Green Swan Conference and Ignazio Visco talks about the conference messages in light of the G20 Presidency programme.

Concluding panel

Central banks and climate change: how to manage expectations, balance actions and
communication and contribute to coordinate with other important actors?

Panellists: Agustín Carstens (BIS), Christine Lagarde (ECB), Yi Gang (People’s Bank of China), Jerome Powell (Federal Reserve Board of Governors), François Villeroy de Galhau (Banque de France; NGFS). Moderator: Gillian Tett (Financial Times)

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

How can central banks, supervisors and regulators help to mobilise and coordinate with other actors (Treasuries, private sector) in the fight against climate change?

Panellists: Lesetja Kganyago (SARB), HaruhikoKuroda (Bank of Japan), Ravi Menon (MAS), Eddie Yue (HKMA), Nor Shamsiah Yunus (Bank Negara Malaysia). Moderator: Haizhou Huang (CICC).

How are new investments adapting to integrate biodiversity loss risks? How are the impacts of these investment measured?

Panellists: Claudia Kruse (APG Asset Management), Matthieu Maurin (Iceberg Data Lab), Alexandre Rambaud (AgroParisTech-CIRED), Olaf Sleijpen (DNB). Moderator: Irene Heemskerk (DNB; appointed ECB)

How can Development Banks address the massively increased financing needs for green projects? What kind of innovative solutions can be developed?

Panellists: Erik Berglof (AIIB), Ambroise Fayolle (EIB), Anshula Kant (World Bank), Xavier Musca (Crédit Agricole), Nandita Parshad (EBRD), Rémy Rioux (AFD). Moderator: Siddharth Tiwari (BIS)

Economic leadership for transformation in a critical decade: managing risks and fostering investment

Special guest speech by Nicholas Stern (IG Patel Professor of Economics and Government and Chair of the Grantham Research Institute on Climate Change and the Environment, London School of Economics) at the Green Swan Conference, 4 June 2021

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

Special guest speech by Zhou Xiaochuan (President, China Society for Finance and Banking; Vice Chairman, Boao Forum for Asia; former Governor, People’s Bank of China)

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

What are the policies currently considered by central banks, regulators and supervisors – and their challenges – to address climate change?

Panellists: Pablo Hernández de Cos (Bank of Spain; BCBS Chair); Thomas Jordan (Swiss National Bank); Sabine Mauderer (Deutsche Bundesbank); Simone Robbers (Reserve Bank of New Zealand). Moderator: Morgan Després (Banque de France).

How can innovations in market-based approaches using consumer carbon tracing influence consumers’ lifestyle choices?

Panellists: Chen Long (Luohan Academy), Brune Poirson (Accor), Massamba Thioye (UNFCCC). Moderator: Benoît Cœuré (BIS)

Can we provide concrete green investment opportunities for the current abundance of savings? How to structure implied Temperature/ 1.5-degree Celsius Portfolios?

Panellists: Jean-François Coppenolle (Aviva), Niklas Ekvall (AP4), Marcin Kacperczyk (Imperial College London), Johanna Koeb (Zurich Insurance), Isabelle Mateos y Lago (BlackRock). Moderator: Frédéric Samama (CPR)

Introduction and special guest speech by Laurent Fabius (former President of COP21 / Paris Agreement)

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm

Tackling climate change for real: progress and next steps

Special guest speech by Andrew Bailey (Governor, Bank of England) at the Green Swan Conference, 3 June 2021

To read online or download the book "The green swan. Central banking and financial stability in the age of climate change", follow the link: https://www.bis.org/publ/othp31.htm

For more information visit the Green Swan Conference page: https://www.bis.org/events/green_swan_2021/overview.htm