Claim · 2021-03-31 · publication · Stated in source · Supported

The interagency request for information of 31 March 2021, issued by the Federal Reserve Board, the CFPB, the FDIC, the NCUA and the OCC, states that lack of explainability can inhibit financial institution management’s understanding of the conceptual soundness of an AI approach, increasing uncertainty about its reliability and risk when used in new contexts.

One recorded claim. The claim panel gives its qualification, the source passages with their place in each source, and how it was checked.

What it connects

Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning → articulates → The opacity of AI models complicates risk management and supervision

Where it appears

AI and money: what central banks and financial authorities have said, 1997–2026 →

Claim and evidence

Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learningarticulates ↓The opacity of AI models complicates risk management and supervision

Machine-checkedStated in sourceSupported

Supporting evidence: primary · 1 source

Date: 2021-03-31 · publication Records dated 2021 →
Role: Articulation
Register (kind of text): Nonfiction

Scope and limitsA background statement in a request for comment by five agencies jointly; it frames questions and sets no requirement.

The evidence 01

primary sourceSupports the claim

Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning

Federal Register (Office of the Federal Register, govinfo.gov) · 2021-03-31

Cite the original source

Cite the original document, not Selekoa. Check these details against it.

Source excerpt

“Lack of explainability can also inhibit financial institution management's understanding of the conceptual soundness … of an AI approach, which can increase uncertainty around the AI approach's reliability, and increase risk when used in new contexts.”

Location in source Background, ‘Explainability’, PDF p. 4 (Federal Register vol. 86, p. 16840); the ellipsis omits footnote marker 6

How it was read Retrieved directly from the publisher

Machine-checked · 2026-11-06

Source details and check notes

Authors: Board of Governors of the Federal Reserve System, Bureau of Consumer Financial Protection, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency (agencies)
Version: Retrieved for the candidate pack on 2026-11-02 (SHA-256 3cfd3ec5e9475979debcfd23f05a5142bebfbdb86a0516deed4c14ee1b8173b5). Retrieved again at admission on 2026-11-06 (same file). Federal Register PDF, vol. 86, no. 60, 31 March 2021, pp. 16837-16842 (FR Doc. 2021-06607)
Canonical address: Open the canonical source ↗
Accessed: 2026-11-06
Language: English (en)
Attribution: Board of Governors of the Federal Reserve System, Bureau of Consumer Financial Protection, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency (agencies), “Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning”, 2021-03-31.
Reuse: No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution.
Check notes: Candidate pack passage, AI and money (research/ai-money). The quotation (36 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review.

Status and meaning

Editorial status. Machine-checked. Machines found this record and checked it against its sources; no person accepted it individually. Each evidence record above shows how it was checked.

Relation. A passage of the document meets the proposition’s criterion. The record documents what the text states, in its register (fiction and satire are labelled); it is not evidence that the proposition is true and implies no influence on or from another text.

Date. Date of publication, as the text gives it.

Record ID am-u04-frb-2021-ai-rfi