The Americas
Central banks widely exploring RTGSs’ interoperability with CBDCs
High income institutions more likely to research the issue than their middle income counterparts
Half of institutions have a central data collection centre
Respondents with data collection system more likely to automate regulatory filings
Flexibility and business continuity seen as key benefits of cloud services
But three in four fintech teams point at privacy as concern
Central banks more likely to use software-based cloud services
Cloud widely used for cyber security and other applications
AI spreads further among fintech teams
Centralised fintech teams more likely to apply AI/ML to sentiment analysis
Half of planned CBDCs designed to be programmable
Two-thirds of wholesale CBDCs likely to be programmable
Most central banks without CBDC mandate engaged in retail projects
Only one in three banks has a legal mandate for CBDC issuance, but many are still working on digital currency
American central banks less likely to struggle with fintech recruitment
But American banks face toughest battle for talent retention
Cool heads must guide financial regulation of climate risk
Supervisors can’t simply rely on ‘magical thinking’ of market discipline, says Sergio Scandizzo
Fintechs more likely to be licensed in upper-middle income countries
Licence issue rate across central banks broadly unchanged year on year
Cyber, suptech and CBDCs are top areas for fintech research
Central banks with fintech strategy more likely to prioritise CBDCs
Cyber security and legacy systems still greatest technology challenges
But concerns differ by central banks’ CBDC mandate
Central banks lacking fintech unit less likely to have a strategy
Respondents’ strategic priorities include digitalisation, regulations, collaborations and others
Four in five central banks lack chief fintech officers
Centralised fintech teams more likely to have chief fintech officers
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
Privacy and security seen as greatest AI risks
Larger risk teams more likely to provide training to staff on risk types
Most central banks reviewed risk management in past year
Other aspects evaluated varied by risk team structure and departmental staff strength
Cyber and geopolitical risks are managers’ top risks
Geopolitical risks seen rising fastest, but cyber is the biggest concern currently
Central banks keep ISO 31000 and COSO-ERM as main approaches
Principles tend to vary slightly by central banks’ risk management philosophies
Central banks typically employ detailed business continuity plans
But institutional risk appetite is less commonly included, especially in Europe
One-fifth of central banks lack defined risk tolerance and strategy
But majority of respondents apply risk management principles to policies and processes
Adoption of governance, risk and compliance systems still partial
Respondents mention main service providers and plans to upgrade
Decentralised risk teams less likely to have chief risk officers
CROs are also less common at Asia-Pacific and European central banks
Credit and counterparty risk gains relevance as most covered risk
But central banks’ top risks vary by geographical regions