Big data
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
NY Fed economists reveal big-data approach to nowcasting
Paper sets out the New York Fed’s model for producing early estimates of major indicators
Big data in central banks focus report 2017
The second Central Banking Journal focus report on big data expands on the original study from 2016, assessing how challenges have evolved in the past year.
The rapid evolution of data
As big data enters the mainstream, it is critical to understand how it can transform our thinking, but also to be realistic about its shortcomings and biases
Making the most of big data
Per Nymand-Andersen, adviser to senior management at the European Central Bank, discusses how central banks can benefit from embracing big data and what this could mean for the industry in the near future.
Big data in central banks: 2017 survey
As an active area for new projects, big data is becoming a fixture in policymaking, with an increasing number of central banks carving out a budget for data handling, writes Emma Glass.
‘Black box’ AI could pose macro risks – FSB
Rise of artificial intelligence in finance may promote efficiency, but it can be hard to tell where the dangers lie, report finds
Tapping into big data’s potential
Central Banking convened a panel of experts to discuss how central banks can harness big data for their needs, hopefully without falling foul of some of the many pitfalls that await.
Sponsored forum: Tapping into big data's potential
Central Banking convened a panel of experts to discuss how central banks can harness big data for their needs, hopefully without falling foul of some of the many pitfalls that await.
Text mining reveals differences in PRA approach
Researchers compare Prudential Regulation Authority’s communications to its predecessor using a machine-learning algorithm
Teaching machines to do monetary policy
Machine learning may not yet be at the stage where central bankers are being replaced with robots, but the field is bringing powerful tools to bear on big economic questions
‘We still don’t do the basics well’ – Chris Gale on cyber security
Central banks are doing “aggressive” and “pretty cool” things to shore up cyber defences, says former Boston Fed VP; notes more could be done in the realm of information sharing
BIS report sheds light on innovative big data use
Central banks across the globe are turning to big data to solve statistical issues, improve banking supervision, and analyse communications
Good data management key to extracting value from big data – panellists
Big data proves most useful when backed by a well-designed production chain – but it comes at a cost, central bank data experts say
IMF paper calls for global co-operation on big data
Discussion note urges statistical authorities to “step up” their involvement in big data projects and develop frameworks for knowledge sharing
BoE authors outline machine learning framework
Paper offers guide to machine learning in central bank analysis, and sets out a few examples relevant to policy
Basel Committee offers guide to fintech revolution
Document offers guidelines to supervisors grappling with rapid innovation, and imagines some of the repercussions of a world without traditional banks
Regulators wary of machine learning in bank models
Banks acknowledge they “cannot hide behind a complex tool” to assess interconnectedness
Banks need to tailor data strategies to clients, paper says
Dutch customers are open to sharing their payments data to enhance security, but do not want banks to sell it on, research finds
Big data sheds light on income risk – Minneapolis Fed research
Better sources of data have allowed economists to gain new insights into how income risk changes over the cycle, says researcher
Bank innovation in consumer data will increase, EBA says
New laws will hasten pace of innovation but should increase consumer rights, EBA argues; market participants see laws as adequate but concerned about cyber security
Riksbank unveils results of web-scraping project
The big data technique for collecting prices could better capture volatile inflation components, allowing for more accurate forecasts, economists say
MAS seeking to build data science community, says chief data officer
David Hardoon urges people to embrace data science and computing; authority is looking to build links with academia and financial sector to share ideas
MAS’s Menon stresses importance of fintech regulation timing
Fintech needs regulation, but it should not “front-run” innovation, says Menon; regulation should “kick in” only when fintech risk “crosses a certain threshold”