BIS Irving Fisher Committee reviews 2025 central bank data and statistics workstreams

The Irving Fisher Committee (IFC) of the Bank for International Settlements (BIS) published its 2025 Annual Report on January 19, 2026. The report provides an update on the IFC's governance and reviews its main workstreams in central bank statistics and data.

Four pillars of central bank data work

In 2025, the IFC focused on four key workstreams: micro data, data science and artificial intelligence (AI), data governance, and sustainable finance.

Micro data efforts contributed to international initiatives, particularly on corporate financial statement information for firm behavior.

Data science workshops explored generative AI applications in central banking, alongside a report on AI implementation for cybersecurity and research.

Data governance addressed comprehensive frameworks for data gathering, storage, and sharing, with a focus on AI governance.

Sustainable finance initiatives aimed at closing data gaps related to ESG factors, supporting harmonization of green finance indicators.

These efforts reflect the new Terms of Reference endorsed in May 2025 by the BIS All Governors, formally expanding the IFC's mandate to cover broader data issues.

Strengthening global statistical cooperation

The IFC, a global network of central bank statisticians and economists, expanded its membership in 2025 with the addition of central banks from Bahrain and Mauritania, and the Arab Monetary Fund, bringing its total to 110 members.

Michele Bullock, Governor of the Reserve Bank of Australia, was appointed as the new IFC Chair in September 2025. The Committee continued its high-level engagement in global statistical initiatives, including the G20 Data Gaps Initiative (DGI) and the International Statistical Institute (ISI).

It actively promoted the international Statistical Data and Metadata eXchange (SDMX) standard and supported revised international statistical standards for National Accounts and Balance of Payments.

Looking ahead to 2026, the IFC plans to further advance its workstreams and review its strategic priorities to align with its revised mandate.

A necessary evolution for central banks

The IFC's expanded mandate, now encompassing AI and sustainable finance, marks a crucial and timely evolution for central bank statistics.

This strategic shift acknowledges the growing complexity of data ecosystems and their direct relevance to core central banking functions, from financial stability to monetary policy.

Such proactive adaptation is essential for central banks to effectively navigate emerging challenges and fulfill their public mandates.