Regulating AI in the financial sector: recent developments and main challenges
Working paper by Juan Carlos Crisanto, Cris Benson Leuterio, Jermy Prenio, Jeffery Yong, published by the Financial Stability Institute, Bank for International Settlements. A staff paper is its authors’ text. Dated 2024-12.
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- Regulating AI in the financial sector: recent developments and main challenges Financial Stability Institute, Bank for International Settlements · published 2024-12 · Retrieved for the candidate pack on 2026-11-02 (SHA-256 e0c9275e8dcabb65bc3261f1d930c4f93796fcea6133a569a43338e9f783adce). Retrieved again at admission on 2026-11-06 (same file). PDF as served on 2026-11-02 (requested at https://www.bis.org/fsi/publ/insights63.pdf, redirected)
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- AI and money: what central banks and financial authorities have said, 1997–2026 →4 records on this document
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- AI raises financial-stability risks through correlated behaviourFSI Insights No 63 of December 2024, by Juan Carlos Crisanto, Cris Benson Leuterio, Jermy Prenio and Jeffery Yong, lists herding behaviour among the macroprudential risks of AI, describing it as the amplification of procyclical behaviour through the use of similar data sets and AI models by multiple financial institutions.2024-12 · publication · Stated in source · Supported Inspect claim & evidence ↗AI raises financial-stability risks through correlated behaviour: propositions page →
- Reliance on a few AI providers creates concentration riskFSI Insights No 63 of December 2024, by Crisanto, Leuterio, Prenio and Yong, states that the concentration of cloud and AI service providers in a few large global technology firms strengthens the argument for direct oversight frameworks for these providers.2024-12 · publication · Stated in source · Supported Inspect claim & evidence ↗Reliance on a few AI providers creates concentration risk: propositions page →
- Existing financial rules broadly cover AIFSI Insights No 63 of December 2024, by Crisanto, Leuterio, Prenio and Yong, states that the common themes of AI guidance are broadly contained in financial regulations on governance, risk management and consumer protection, which may be why most financial authorities have not issued separate AI regulations for financial institutions.2024-12 · publication · Stated in source · Supported Inspect claim & evidence ↗Existing financial rules broadly cover AI: propositions page →
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- Existing financial rules broadly cover AIFSI Insights No 63 of December 2024, by Crisanto, Leuterio, Prenio and Yong, also states that AI use may present unique challenges so that regulatory or supervisory guidance may be needed in specific areas, and that provider concentration strengthens the argument for direct oversight frameworks for cloud and AI service providers.2024-12 · publication · Stated in source · Supported Inspect claim & evidence ↗Existing financial rules broadly cover AI: propositions page →
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