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Trust, digitalisation and banking: from my word is my bond to my code is my bond?

· Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision (International)

Summary written by Dark Majestic in its own words · topics: banking regulation and supervision, technology, ai and cyber risk

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· Pablo Hernández de Cos Wiki · Basel Committee on Banking Supervision WikiTrust, digitalisation and banking: from my word is my bond to my code is my bond?

ContextKeynote speech by Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, at the Eurofi 2022 Financial Forum, Prague, Czech Republic, 9 September 2022.

Why it mattersThe Basel chair examines how AI and third-party providers change banking risks.

Problems raised
  1. Digitalisation changes banking.
  2. AI and third-party risks grow.
  3. Concentration risk increases.
Solutions proposed
  1. Apply same risk, same regulation.
  2. Study supervisory implications of AI.
  3. Manage third- and fourth-party risk.
Read full speech on bis.org ↗

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