Claim · 1997-11-04 · event · Stated in source · Supported

In remarks of 4 November 1997, Susan M. Phillips, Governor of the Federal Reserve Board, said that some institutions are making significant strides to better quantify and manage credit risk, including through credit scoring and the use of artificial intelligence in underwriting various types of consumer loans.

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

Risk management → articulates → AI can improve financial firms’ risk management

Where it appears

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

Claim and evidence

Risk managementarticulates ↓AI can improve financial firms’ risk management

Machine-checkedStated in sourceSupported

Supporting evidence: primary · 1 source

Date: 1997-11-04 · event Records dated 1997 →
Role: Earliest located
Register (kind of text): Nonfiction

Scope and limitsA single mention within a list of credit-risk developments; the speech does not describe how AI improves underwriting or assess its effect. Located through Governor Barr’s citation of it (speech of 11 November 2025); a citation is not agreement or influence.

The evidence 01

primary sourceSupports the claim

Risk management

Board of Governors of the Federal Reserve System · 1997-11-04

Cite the original source

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

Source excerpt

“At present, some institutions are making significant strides on a number of fronts to better quantify and manage credit risk. In addition to major developments in credit scoring and the use of artificial intelligence in underwriting various types of consumer loans”

Location in source Section ‘Increased Use of Internal Measurement and Management Systems’, paragraph beginning ‘Moving forward, perhaps such supervisory/private sector synergies’

How it was read Retrieved directly from the publisher

Machine-checked · 2026-11-06

Source details and check notes

Authors: Susan M. Phillips
Version: Retrieved for the candidate pack on 2026-11-02 (SHA-256 ea309a9fa27da53a3fbe755405157ab51b4480957a01a07d55368587f98d8940). Retrieved again at admission on 2026-11-06 (SHA-256 d8e582fceef24b8303a598a97712fbef77d0b20e9a4c6890d49a63a463fc5fd9; web pages are served with new markup on each request). HTML text of the remarks as served in the Board’s speech archive on 2026-11-02
Canonical address: Open the canonical source ↗
Accessed: 2026-11-06
Language: English (en)
Attribution: Susan M. Phillips, “Risk management”, 1997-11-04.
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 (41 words) matched a fresh retrieval of 2026-11-06. 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 the speech or remarks were delivered, as the text gives it.

Record ID am-u10-frb-1997-phillips-risk