More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
Larger jurisdictions have taken “important steps” towards tackling financial stability risks posed by big tech firms, but tougher regulatory action may still be needed, a new paper argues.
The study of big tech regulation by the Financial Stability Institute, part of the Bank for International Settlements, finds the “main regulatory development” has been in China. Authorities have created a “financial holding company (FHC) regime”, requiring big tech firms to be structured and licensed as
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
Advancing monetary policy tech in the new economic landscape
Central banks face unprecedented challenges in adapting their models to the demands of repeated and interacting crises – polycrisis, as some call the current moment – and high levels of uncertainty. This white paper explores how central banks can deploy…
Programmable money ‘a key benefit of CBDCs’
However, Central Banking Autumn Meetings hear that use case for a retail version is “missing”
Global Technology Partner: ACI Worldwide
ACI Worldwide powers 26 domestic and pan-regional real-time payments schemes across six continents, including 10 central infrastructures, providing solutions to central banks, participant banks, fintechs and other payment service providers
Central Banking’s seventh annual FinTech & RegTech Global Awards
Central Banking is pleased to announce the winners of its seventh annual FinTech & RegTech Global Awards recognising excellence in the central banking community
Deutsche Bundesbank joins Project Guardian
Germany joins France, Japan, Switzerland and UK in MAS tokenisation initiative
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