Featured Product

    IFC Publishes Annual Report, Briefs on Work Done in 2019

    January 14, 2020

    The Irving Fisher Committee on Central Bank Statistics (IFC) of BIS published the 2019 annual report on its activities. The report provides a brief update on the governance of IFC, a review of its activities over the past year, and an outline of its future plans. In 2020, IFC will further its work in certain areas that were also in focus in 2019 and these areas include big data information and analytics, fintech, and data governance. The primary focus of IFC will be on completing its fintech agenda and updating the earlier survey on the use of, and interest in, big data by central banks.

    IFC organized several activities in 2019 with its activities centered on the analysis of big data, fintech, the integration of micro- and macro-level statistics, the use of financial accounts, and other aspects supporting international statistical initiatives. The report also summarizes key findings "from the IFC surveys on the use of business intelligence systems by central banks and on the fintech data issues at central banks, in addition to key findings from the workshops on “the use of big data analytics and artificial intelligence within central banks" and on “computing platforms for big data and machine learning.” This year, IFC plans to further its work in the areas of big data, fintech, external-sector statistics, sustainable finance, and the different aspects of the Data Gaps Initiative that are relevant to the central banking statistical community:

    • The IFC 2020 Biennial Conference, to be held in Basel on August 27–28, 2020, will be a key event. Its main theme will be "The future of finance: implications for central banking statistics" and it will cover issues such as the impact of innovation and fintech on the measurement and classification of new types of financial intermediation, financial inclusion, and financial literacy issues.The conference will also look at various data management issues faced by central banks, taking note of their dual role as compilers of financial statistics as well as users of this information.
    • IFC will also organize, with the Bank of Portugal and ECB, a workshop on "Bridging measurement challenges and analytical needs of external statistics: evolution or revolution?” on  February 17–18, 2020. This interaction will support the ongoing review of international statistical standards to address current measurement issues and to reconcile the development of external statistics with overall macroeconomic statistics as a multi-purpose analytical tool.
    • IFC will support a conference jointly organized by the Bundesbank and the Bank of France on statistics for sustainable finance in Paris, on October 21–22, 2020. The event will take stock of the related data needs of public financial authorities, analyze the international statistics available in the area of sustainable finance from both a supply- and a demand-side perspective, identify data gaps, and develop ideas on the way forward.
    • IFC will conduct the survey to gather feedback from its members on the activities and suggestions for further work. A specific section will be added to update the IFC survey on central banks’ use of and interest in big data in 2015, with an aim to assess the various projects conducted by central banks in this area over the past five years.

     

    Related Link: Report (PDF)

    Keywords: International, Banking, Statistics, Big Data, Fintech, Data Governance, Annual Report, IFC, BIS

    Related Articles
    News

    EBA Launches Stress Tests for Banks, Issues Other Updates

    The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8700