(Finance) – “We have to continue working to ensure that banks are prepared for liquidity stressensuring they have multiple sources of emergency financing,” while credit risk in the commercial real estate sector “has become more evident this year and regulators should continue to focus on the financial sector’s ability to address it.” This was stated by the US Treasury Secretary, Janet Yellenat the opening session of the Financial Stability Oversight Council meeting.
Yellen also highlighted the “emerging risks resulting from significant technological changes”https://www.Finance.it/DettaglioNews/161_2024-12-06_TLB/.”Digital assets and theartificial intelligence they bring potential benefits such as efficiency, but also financial riskscyber risks and risks from third-party service providers,” he stressed.
“The Council continues to call for legislation to create a comprehensive federal prudential framework for stablecoin issuers and a cryptocurrency legislation that addresses the risks that we have identified – Yellen explained – And we recommend developing additional interagency expertise to analyze and monitor potential systemic risks associated with the use of AI in the financial services sector, while facilitating innovation.”