• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

BOJ’s Ueda warns AI could bring new financial stability risks

by November 21, 2024
written by November 21, 2024

By Leika Kihara

TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda said on Thursday central banks must be mindful that technological advances, such as in the area of artificial intelligence (AI), could bring new risks to financial stability.

The growing use of online banking and social media has heightened the risk that concern over a bank’s credit status could spread rapidly and trigger a rush of deposit withdrawals, Ueda said.

The rise of generative AI also brings specific challenges such as data protection concerns, he added.

“As financial services grow more diverse and complex, the channels of risk transmission have become less transparent, and current financial regulations may not be fully equipped to manage new types of financial services,” Ueda said.

“This environment underscores the need for operational resilience, including robust management of cybersecurity and third-party risks,” he said in a speech at the Paris Europlace Financial Forum in Tokyo.

Ueda said it was crucial for central banks and other authorities to monitor evolving financial intermediation functions, encourage relevant entities to establish sound governance, and build management frameworks to address new risks.

“A regulatory and supervisory framework that adapts to technological advancements is also essential,” he added.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Thai economy to grow 2.7% this year, beat 2025 forecast, PM says
next post
Morning Bid: Nvidia disappoints, bitcoin nears $100K

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Australia stocks higher at close of trade; S&P/ASX 200 up 0.28%
    • Trump win expected to trigger more China stimulus- JPMorgan

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy