Hernández de Cos, PabloThe Role of central banks in managing financial crises in times of rapid change / Pablo Hernández de CosSumario: Speech examining the role of central banks in managing financial crises in a rapidly changing economic and financial environment. It reviews lessons from recent crises and analyses how high government debt, the growing role of non-bank financial institutions and digital innovation may affect central banks' responses to future financial stress. It addresses challenges related to sovereign bond markets, emergency liquidity provision, asset purchases, stablecoins and the use of artificial intelligence in financial markets. It also considers policy responses based on fiscal discipline, financial regulation, central bank backstop facilities and international cooperation. — Ámbito geográfico: InternacionalEn: SUERF Annual Lecture .- Vienna : Bank for International Settlements (BIS). - 5 October 2026 : 17 p1. Bancos centrales. 2. Crisis financieras. 3. Política monetaria. 4. Estabilidad financiera. 5. Innovación financiera. 6. Deuda pública. 7. Mercados financieros. I. Bank for International Settlements (BIS). II. Título.
