Big techs should be assessed for systemic importance – BIS

stopping systemic risk

Central banks should consider adapting their frameworks for systemically important institutions to include big tech firms, according to officials from the Bank for International Settlements.

In a new research bulletin, BIS managing director Agustín Carstens – along with senior officials Stijn Claessens, Fernando Restoy and Hyun Song Shin – argue current regulatory frameworks may “fall short in addressing” the challenges thrown up by big tech firms entering financial services.

Today, the

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