As financial technology continues to develop, central banks are reviewing their regulation requirements and supervision processes. Effective supervisory and regulatory technology would enable central banks, financial institutions and regulators to increase the efficiency of regulatory processes and data management. But this is only the start of the conversation, and the risks of the digital transformation are still to be addressed.
Joachim Wuermeling, whose areas of responsibility include banking supervision, risk control, and information technology, elaborates on how central banks are engaging with increased digitalisation to ensure financial stability.
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