Fintech, AI, and the changing financial landscape
What is the end goal of the fintech revolution? Patrick Harker focuses upon the risks of artificial intelligence and machine learning to the financial system
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Finance
Taking stock and looking ahead
The macro-financial environment is changing profoundly. Frank Elderson reflects on the first decade of European banking supervision and looks at the path ahead
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Engaging with the machine
AI is being used for a wide and increasing range of applications in financial services. Sarah Breeden explores the novel features of Generative AI and how we can uphold financial stability whilst harnessing its potential benefits for economic growth
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Net zero and financial stability
Dirk Schoenmaker and Hesse McKechnie argue that central banks should take a macro approach to managing system-wide risks stemming from the climate transition to net zero
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Cefi or defi: substitutes or complements?
Christopher Waller discusses the roles of centralized and decentralized finance, and whether they are substitutes or complementary to each other
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Towards a digital CMU
Piero Cipollone argues that recent advancements in digital technology offer an opportunity to create an integrated European capital market for digital assets
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Sustainable finance: from ‘eureka!’ to action
Climate and nature-related risks are significant financial risks. Frank Elderson argues that they therefore fall within the respective mandates of central banks and supervisors – to preserve price stability and ensure the safety and soundness of banks
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Bridging the gap
Innovation, investment and integration. Luis de Guindos discusses the revival of productivity growth in the euro area – a critical challenge that demands urgent attention and collective action
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The end of ‘enjoy now, pay later’
Concerns over government debt have been on the rise. Martin Larch provides a brief history of government debt in the EU and draws attention to some important issues that are normally kept in the background
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Setbacks and strides forward
The global economy is facing rifts comparable to the pressures that resulted in ‘economic nationalism, a collapse in global trade and the Great Depression of the 1920s, Christine Lagarde warns
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