Foreword

Carolyn Rogers

Foreword

Contents
Contents

Foreword

Preface

Preface

Introduction: Suptech/regtech defined: Payments, sandboxes and beyond

1.

The uncertain prudential treatment of cryptoassets

2.

US regulatory certainty versus uncertainty for crypto and blockchain

3.

Bermuda: Suptech and regtech supporting the risk-based approach

4.

Suptech: A new era of supervisory philosophy

5.

Cloud computing in the financial sector: A global perspective

6.

DeFi protocol risks: The paradox of cryptofinance

7.

IT transformation in the Prudential Authority of South Africa: A case study

8.

Making the vision a reality: Perspectives from the Monetary Authority of Singapore

9.

Lessons from Hong Kong through the lens of the HKMA

10.

Technological change: Is it different this time?

11.

The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision

12.

China’s financing opening up and regulatory convergence with the world

13.

Disclosures and market discipline: The promise of regtech

14.

Regtech and new derivatives developments

15.

Fintech and regtech: Leading the evolution and regulation of alternative investments

16.

The role of artificial intelligence and big data in investment management

17.

The promise and challenges of machine learning in finance

18.

Data privacy and alternative data

19.

Digital ID and financial inclusion

20.

Strategic technology: Regulation and innovation of CBDCs

21.

Regulatory sandboxes: Innovation and financial inclusion

22.

Technology and sandbox development innovation in a transitional market: A case study

23.

Developing the regulatory ecosystem: The evolution of stablecoin

24.

Central bank digital currency, regtech and suptech

25.

Digital dollar: Cryptocurrency for everyday commerce

26.

CFTC regtech implications for virtual currency trading

27.

Fintech, regtech, suptech and central bank decision making

While the terms suptech (supervisory technology) and regtech (regulatory technology) are new, the idea of leveraging technology to improve the efficiency and effectiveness of supervision, or, in the case of banks, the reliability and cost of compliance, is not. Banking and supervising banks are both data-intensive activities. Improving the collection, storage and use of that data has long been a focus of banks and their supervisors.

In fact, one of the key global policy initiatives stemming from the global financial crisis (GFC) was focused precisely on improving bank’s data management. “Principles for Effective Risk Data Aggregation and Risk Reporting” (known as BCBS 239”) was finalised by the Basel Committee on Banking Supervision (BCBS) in 2013, and while it may not share the profile of other post-crisis policy initiatives, it is arguably equally important. That is because one of the important lessons from the GFC was that banks’ data architectures and data management strategies were not up to the task. While banks collected and stored vast amounts of data, most could not aggregate exposures and identify concentrations of risk. This meant risks were not reported to

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