ECB says AI risk monitoring should not be a one-way street
Bank wants to exchange information on lenders’ AI model risks with market surveillance supervisors
The European Central Bank has said it would like to be able to exchange information related to lenders’ artificial intelligence-related risks with market surveillance authorities.
In a legal opinion issued on March 13, the ECB pointed out that because market surveillance authorities and prudential supervisors did not share the same mandates and priorities, they should be able to exchange information “on a need-to-know basis and subject to professional secrecy requirements”.
The council of the
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