Fintech
A new research agenda for the Bank of England
To manage the risks and opportunities of rapid financial innovation, policy-makers must look to cutting-edge research, writes Andrew Bailey
Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
CBDC projects aim to complement cash – BIS survey
Many central banks are creating “hybrid” CBDCs, according to survey of 32 projects
Cœuré warns of ‘black box’ problem for regulators
It “may be no coincidence” banks are turning to opaque AI for “capital optimisation”, BIS official says
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
‘Big Tech’ firms could harm financial stability – DNB paper
Technology firms’ data access could lead to their dominance of some markets, researchers warn
Chinese state-run banks start testing PBoC’s ‘e-wallet’
Four biggest state banks trialling payments system for PBoC’s “digital yuan”
Computing platforms for big data and AI
Implementing big-data and high-performance computing platforms is critical to support machine learning applications. Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy
BIS’s Hong Kong innovation hub launches trade finance competition
Solutions need to help current trade finance platforms communicate with one another, and help SMEs and emerging markets take advantage of existing opportunities
Timothy Lane on CBDCs and why the private sector is no competition for central banks
The Bank of Canada deputy governor discusses the difference between a private-sector-motivated digital currency and a CBDC, and why finding a balance between privacy and regulation is such a challenge
Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
CBDCs cannot have unlimited privacy – Canadian deputy governor
Timothy Lane says central banks should consider “hybrid privacy levels”
Banque de France names CBDC partners
HSBC and Euroclear among firms chosen to take part in CBDC experiments that include improving cross-border payment infrastructure
Jamaican central bank seeks CBDC partner
Central bank opens sandbox to CBDC development in hopes of increased financial inclusion
FCA launches new digital sandbox
Project will give firms access to “high-quality datasets” to test new technology
FATF will set up global network of virtual asset supervisors
Current standards are sufficient to govern stablecoin activity, report says, but risks may grow
MAS finishes work on prototype blockchain payments system
Singaporean central bank and investment fund will share details of blockchain-based payments system
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
Trust in big tech falters during pandemic – research
Netherlands Bank says trust in most public institutions has risen as banks step up during pandemic