BIS Papers No. 158 urges banks to start post-quantum work now
7 JULY 2025, BASEL
The Bank for International Settlements published BIS Papers No. 158 on 7 July 2025, urging banks to start post-quantum work now. The paper names cryptographic inventory as the foundation and recommends crypto agility, defense in depth, hybrid schemes and a phased approach. It gives banks a clear, practical set of priorities rather than an abstract warning.
Inventory leads the list for a reason. A bank cannot migrate or protect cryptography it has not located, so mapping where and how cryptography is used underpins every later step. The paper places it first because prioritisation, crypto agility and phased migration all depend on having that picture of the estate.
The source gives the message weight. The Bank for International Settlements serves central banks and shapes thinking across the global financial system, so a BIS paper urging banks to start now resonates internationally. It reinforces similar calls from national supervisors and central banks, adding a global voice to a consistent message.
Why it matters. BIS Papers No. 158 adds the authority of the central banks' bank to a now-familiar message: start post-quantum work now, beginning with inventory. Its recommended priorities, agility, defense in depth, hybrids and phasing, match the broad consensus. Banks can treat the paper as confirmation that the time to act is current, and start by inventorying their cryptography as it advises.