A tokenized bank liability is a wider term for what is usually called a tokenized deposit: a claim on a commercial bank, recorded as a token on a distributed ledger or other programmable platform. The main entry explains how tokenized deposits work, who issues them and how they compare with stablecoins.
The longer phrase is common in central bank and policy papers. It stresses that the token is a direct liability of a regulated bank, so it sits on the bank's balance sheet, counts as a deposit for regulatory purposes and is normally covered by deposit insurance on the same terms as an ordinary account. This sets it apart from a stablecoin, which is a liability of a separate issuer backed by a pool of reserve assets, and from a central bank digital currency, which is a liability of the central bank.
In principle the term can cover other bank obligations beyond deposits, such as tokenised certificates of deposit or bank-issued debt instruments. In practice, most writers use "tokenized bank liability" and "tokenized deposit" interchangeably, often in discussions of a shared ledger where tokenized commercial bank money and central bank money settle side by side.