BIS published the IFC Bulletin Number 50, which presents proceedings of the Irving Fisher Committee (IFC)-National Bank of Belgium Workshop and Seminar on big data. The Workshop and Seminar, which was held on July 23-26, 2018, provided an opportunity to review the main big data sources relevant for central banks and the principal techniques developed in the recent years for analyzing big data—focusing on the classification and clustering of information derived from large quantitative data sets, with machine learning, text mining, and network analysis all playing an important role.
The presentations included in the IFC Bulletin analyzed various aspects related to the use of big data and associated techniques by central banks. They cover three main aspects:
- An assessment of the main big data sources and associated analytical techniques that are relevant for central banks
- The insights provided by big data for economic policy, with an overview of concrete central bank projects aiming to improve statistical information, macroeconomic analysis and forecasting, financial market monitoring, and financial risk assessment
- The use of big data in crafting central bank policies, including organizational aspects and related challenges
Related Link: IFC Bulletin
Keywords: International, Banking, Big Data, Artificial Intelligence, IFC, BIS
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.