Technology as a new frontier for macroprudential policy
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: financial stability, banking regulation and supervision, technology, ai and cyber risk
CL · Christine Lagarde Wiki · European Central Bank WikiTechnology as a new frontier for macroprudential policyContextWelcome address by Christine Lagarde, also Chair of the European Systemic Risk Board, at the eighth annual ESRB conference.
Why it mattersLagarde argues that technology-driven risks need a wider macroprudential toolkit beyond banks.
Problems raised- Technology creates new systemic risks.
- Risks spread across the whole system.
- Current tools focus on banks.
Solutions proposed- Expand the macroprudential toolkit.
- Use technology for faster risk assessment.
- Model a broader range of disruptive scenarios.
Read full speech on ecb.europa.eu ↗More from Christine Lagarde · European Central Bank · all speeches
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