BIS Innovation Summit 2025: Keynote Speech by Pablo Hernández de Cos

📅 Sep 16, 2025 Bank for International Settlements 15 MIN 577 VIEWS 19 SEGMENTS · 2 SPEAKERS

Keynote speech Pablo Hernández de Cos General Manager, Bank for International Settlements.

Moderator 0:10 ↗

Please allow me to introduce Pablo Hernandez de Cos, General Manager of the BIS, formerly Governor of the Bank of Spain, member of the ECB Governing Council, and Chair of the Basel Committee on Banking Supervision. That's just a snapshot of the CV, but you'll agree it's quite a lot. So anyway, for the first keynote of the day, Pablo, please, the floor is yours.

1 more exchange in this transcript

Cite this transcript

APA, MLA, BibTeX

APA

Cos, P. D. (2025, September 16). BIS Innovation Summit 2025: Keynote Speech by Pablo Hernández de Cos [Interview transcript]. Bank for International Settlements. CEOInterviews.AI. https://ceointerviews.ai/interview/1437283/

MLA

Pablo de Cos. "BIS Innovation Summit 2025: Keynote Speech by Pablo Hernández de Cos." Bank for International Settlements, 16 Sep. 2025. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1437283/.

BibTeX

@misc{cos2025_1437283,
  author       = {Pablo de Cos},
  title        = {BIS Innovation Summit 2025: Keynote Speech by Pablo Hernández de Cos},
  howpublished = {Interview transcript, Bank for International Settlements. CEOInterviews.AI},
  year         = {2025},
  month        = {sep},
  url          = {https://ceointerviews.ai/interview/1437283/},
  note         = {Speaker-attributed transcript with timestamps}
}

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Key Quotes (2)

“Recent breakthroughs in large language models and generative AI, along of course with the adoption by different industries, is poised to have a profound effect on the financial system, on the economy, and of course also on the central banking community. And you can even claim that these new developments, on which we are seeing that the use of AI agents to manage computer systems, could make this e”

▶ 2:17 POLICY

“Many AI models function as black boxes, making it challenging to understand how decisions are made. And it's not only that. We also know that in particular generative AI models are further compounded by the risk of hallucinations, where a model presents factually incorrect answers with apparent confidence. Let me emphasize that this is a key problem for the central banking community, because in th”

▶ 10:10 CONTROVERSIAL POLICY

More interviews with Pablo de Cos

Pablo Hernández de Cos (70th Governor of the Bank of Spain, 2018-24)Mar 18, 2025 · Academy for Cultural Diplomacy · 20 min
Financial System Conference 2024- Fireside chat: Pablo Hernández de Cos and Gabriel MakhloufDec 20, 2024 · Central Bank of Ireland · 25 min
Financial System Conference 2024- Keynote Address: Pablo Hernández de Cos, Bank of SpainDec 20, 2024 · Central Bank of Ireland · 22 min

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About Pablo de Cos

Pablo Hernández de Cos, who served as Governor of the Bank of Spain from 2018 to 2024, has continued to speak publicly on European economic policy and financial regulation. At the Berlin Economic Forum in March 2025, he argued that central bank independence is increasingly important as a stabilizer in unpredictable times. He stated that Europe has been losing economic weight globally due to low productivity growth, citing that European household disposable income has grown at nearly half the rate of the United States since 2000. He called for deepening the single market and for the EU to promote a rules-based international order, and he discussed the potential digital euro as a way to support innovation and reduce fragmentation in European payment systems. In a November 2024 keynote at a financial systems conference, Hernández de Cos addressed the growing role of big tech in banking, including as service providers, competitors, and partners to banks. He highlighted concentration risks in cloud computing and raised questions about how regulators should oversee banks that rely heavily on third-party technology providers. He also emphasized the need for international collaboration to establish baseline regulatory approaches for artificial intelligence in banking. Earlier in his tenure, he advocated for a common European financing instrument to meet green and digital investment needs and argued that fiscal support measures during high inflation should be temporary, targeted, and consistent with monetary policy tightening.

All Pablo de Cos appearances → Bank for International Settlements on YouTube →