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Fed’s Brainard wary of black box AI models in consumer credit
Speech raises explainability issue; says existing model risk guidelines are “a good place to start” in regulating AI
The disputed terrain of model risk scoring
There is no concord on how banks should police their model risk. But two Fed economists have an idea
US banks continue to lop back market risk
Goldman Sachs, Morgan Stanley shrink requirements by over $1 billion year to date
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Editors' choice
Machine learning hits explainability barrier
Banks hire AI industry experts in face of growing regulatory scrutiny
Big Figure
HQLAs A-OK at SocGen
Societe Generale’s liquidity buffer reached a new high in the third quarter, topping €176 billion ($201 billion). Total high-quality liquid assets (HQLA) rose 7% over the three months to end-June, and are up 14% from a year ago. HQLA-eligible securities make up the biggest portion of the liquidity buffer, with a 48% share of the total. The €84 billion of liquid securities is the most the bank has had on hand since the first quarter of 2016, and is up a third on a year ago.
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