Monetary Brief News

The financial sector is poised to be among the first to adopt quantum computing technologies as they become commercially viable in the coming years.

GenAI is transforming the financial services industry by increasing efficiency and enhancing decision-making capabilities, according to a recent report.

The global financial regulatory landscape is evolving with new developments from key international bodies.

The European Banking Authority (EBA) has released several key publications aimed at improving the regulatory framework for banks.

The exploration of quantum artificial intelligence (QAI) is gaining momentum as it combines the advancing fields of quantum computing and artificial intelligence.

The UK Prudential Regulatory Authority (PRA) has decided to postpone the implementation of Basel 3.1 by one year, now set to begin on January 1, 2027.

The European Banking Authority (EBA) has released its final guidelines on managing Environmental, Social, and Governance (ESG) risks.

The global approach to sustainability disclosures is experiencing a significant transformation, particularly affecting the banking industry.

At the beginning of 2024, a publication titled “The road to useful quantum computing” reviewed advancements toward "logical qubits" from 2023.

In early 2024, the publication "The road to useful quantum computing" highlighted advancements towards logical qubits and suggested that it was an opportune time to focus on this technology.

On October 30, Chartis Research released its 2024 market quadrants report on Credit Data Solutions.

The global asset management industry is anticipated to see a stable outlook in 2025, as reported on December 5, 2024.

The global outlook for banks has been revised to stable from negative, driven by expectations of economic growth stabilization and monetary easing.

Brex Inc., a prominent corporate card and spend platform provider, has implemented Moody’s Lending Suite to enhance its financial operations.

The Network for Greening the Financial System (NGFS) has released its latest Phase V scenarios for assessing long-term climate risks.

The Financial Stability Board (FSB) has released a report evaluating the implications of artificial intelligence (AI) on financial stability.

European authorities have been advancing several initiatives to promote artificial intelligence (AI) innovation throughout 2024.

The European Banking Authority (EBA) has announced the final methodology, draft templates, and template guidance for the EU-wide stress test exercise scheduled for 2025.

The Hong Kong Monetary Authority (HKMA) has published the Hong Kong Taxonomy for Sustainable Finance, a framework aimed at raising awareness about green finance and promoting a common understanding of green activities. The taxonomy is designed to facilitate green finance flows, align investment decisions with climate goals, and reduce risks associated with non-aligned low-carbon assets. It also aims to unlock new investment opportunities in green technologies and sustainable projects while increasing transparency and accountability in the financial sector.

The report builds on the 2018 BCBS paper titled, “Sound practices: implications of fintech developments for banks and bank supervisors” and takes stock of recent developments in the digitalization of finance. The report reviews key technologies across various aspects of the banking value chain, including banks' use of application programming interfaces (APIs), artificial intelligence (AI) and machine learning (ML), distributed ledger technology (DLT), and cloud computing.