Big techs should be assessed for systemic importance – BIS
Safeguards needed to guarantee operational resilience of financial system
Central banks should consider adapting their frameworks for systemically important institutions to include big tech firms, according to officials from the Bank for International Settlements.
In a new research bulletin, BIS managing director Agustín Carstens – along with senior officials Stijn Claessens, Fernando Restoy and Hyun Song Shin – argue current regulatory frameworks may “fall short in addressing” the challenges thrown up by big tech firms entering financial services.
Today, the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
Suptech adoption: strategy and capacity building drives supervisory transformation
Two BR-AG representatives review the global use of suptech among central banks for enhanced digital supervision
How AI is shaping the future of payment system oversight
Biagio Bossone explains that sound AI policies can be a powerful ally supporting financial stability
BdF and MAS complete test on post-quantum cryptography
Technology used to secure emails can be adapted for payments, authorities say
MAS launches new fintech network
Global Finance and Technology Network to hold forums, offer advisory services and invest in start-ups
HKMA partners with Thailand and Brazil on cross-border tokens
Interoperability work using tokenisation will focus on settlement in trade finance and carbon credits
Central banks must navigate impact of tokenisation – BIS
Paper weighs in on how policy-makers should react to innovations in financial market infrastructure
BIS aims for open data across borders with Project Aperta
Innovation Hub’s latest project seeks to link up national open-finance schemes
M1 vs M0 in an instant payments world
Manmohan Singh explains how measurement of ‘narrow’ money is changing