Central Banking and Fintech--A Brave New World?

#artificialintelligence

Thank you, Mark [Carney], for that kind introduction, and thank you to the Bank of England for inviting me to this wonderful event. This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilizing force for the U.K. economy, inspiring others in the world of central banking--not least because of your guidance, Mark. This is also a moment to learn from our experiences, build on the progress made so far, and look into the future--to the next 20 years--as our journey continues. This morning, I came up Fleet Street, which always feels like a journey through history. In the Middle Ages, that street was an important center of commerce, much of which has now moved online. By the 19th century, the street was home to ticker machines and reporters racing each other to make the evening papers.


New Elearning course: Credit Risk Analytics

@machinelearnbot

On November 15th, my credit risk analytics course will be available as e-Learning. Send me an email at Bart.Baesens@gmail.com Bart Baesens holds a master's degree in Business Engineering (option: Management Informatics) and a PhD in Applied Economic Sciences from KU Leuven University (Belgium). He is currently an associate professor at KU Leuven, and a guest lecturer at the University of Southampton (United Kingdom). He has done extensive research on data mining and its applications.


Regulators to question Facebook over new Libra cryptocurrency

The Guardian

Sun 15 Sep 2019 08.54 EDT Last modified on Sun 15 Sep 2019 09.00 EDT Global regulators will question Facebook on Monday about its Libra cryptocurrency amid concerns from EU governments over the threat the digital currency poses to financial stability, according to the Financial Times. Officials from 26 central banks, including the US Federal Reserve and the Bank of England, will meet with representatives of Libra in Basel on Monday, the FT said, citing officials. Libra's founders have also been requested to answer key questions about the currency's scope and design, FT said. Facebook did not immediately respond to Reuters' request for comment outside regular business hours. Countries including France and Germany have publicly criticised the social media giant's Libra project, saying it posed risks to EU states' sovereignty.


New Book: Credit risk analytics, The R Companion

@machinelearnbot

Credit risk analytics in R will enable you to build credit risk models from start to finish. Accessing real credit data via the accompanying website www.creditriskanalytics.net, you will master a wide range of applications, including building your own PD, LGD and EAD models as well as mastering industry challenges such as reject inference, low default portfolio risk modeling, model validation and stress testing. This book has been written as a companion to Baesens, B., Roesch, D. and Scheule H., Credit Risk Analytics: Measurement Techniques, Applications, and Examples in SAS, John Wiley & Sons, 2016. Bart Baesens is a professor of Big Data and Analytics at KU Leuven (Belgium) and a lecturer at the University of Southampton (United Kingdom). He has written more than 200 scientific papers and 10 books.


IMF chief tells central bankers to not ignore bitcoin

USATODAY - Tech Top Stories

If you don't prepare, it might vanish forever. LONDON -- Christine Lagarde, the head of the International Monetary Fund, has a message for the world's central bankers: Don't be Luddites. Addressing a Bank of England conference, Lagarde conceded that digital currencies, such as bitcoin, don't currently pose a major threat to the status quo, as they are "too volatile, too risky, too energy-intensive." Some have also been hacked, she noted. But in time, she argued Friday, technological innovations could address some of these issues and as such it "may not be wise to dismiss virtual currencies."