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Bank of England

Bank of England warns AI could exacerbate concentration risk, explores possible “system-wide exercises”

"Third-party exposure will continue to increase as the complexity of models increases and outsourcing costs decrease"

UK banks deploy fully autonomous AI models - despite "systemic risk"

Bank of England warns that unchecked use of AI poses a risk to the stability of the financial system.

Bank of England dumps controversial vulnerability disclosure rule

Regulators admit that forcing critical third-party firms to "openly" share vulns would "go against" plan to reduce systemic risk and boost operational resilience.

Psssst: Want to join the Bank of England’s AI Consortium?

16% of respondents are using AI for credit risk assessment; 11% are using it for algorithmic trading. The Old Lady wants to keep a watchful eye...

bank of england certificate expired RTGS outage

Network configuration, CA and SWIFT issues, and certificate expiration blamed for a series of RTGS outages the past year.

Old Lady grapples with cloud mix, SAP, tech debt; brings in help

Bank of England seeks "a more outcome-based approach to service provision"

A view of the Bank of England in London (Photo: Alicja Ziaj on Unsplash)

"The financial sector’s interconnectedness has the potential to spread disruption widely and quickly, affecting households and businesses."

Bank of England plans digital currency experiments

Central bank moves from QE to QR codes via CBDC?

"We expect greater engagement" Bank of England cracks whip over operational resilience

“Less than a year out from the March 2025 deadline… there is still considerable work to be done for many FMIs.”

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