BIS General Manager Calls for Deposit Insurance Evolution Amid New Financial Technologies

Pablo Hernández de Cos, General Manager of the Bank for International Settlements (BIS), emphasized the critical need for deposit insurance systems to adapt to evolving financial landscapes. Speaking at the IADI Conference, he highlighted the importance of these systems in meeting policy objectives, especially with the emergence of new money forms like tokenized deposits and stablecoins. This adaptation is crucial for maintaining financial stability and consumer confidence in a rapidly changing digital economy.