Artificial intelligence is a disruptive technology that is causing profound change to the economy and society. In Europe, we need to take greater advantage of the opportunities arising from this, said Bundesbank Executive Board member Fritzi Köhler-Geib in an interview with the “Süddeutsche Zeitung”. In the interview, she discusses the opportunities and challenges presented by AI.

To collateralise all credit operations, the Eurosystem requires counterparties to provide adequate eligible assets in accordance with Article 18.1 of the Statute of the European System of Central Banks (ESCB). Assets need to fulfil a number of criteria to be accepted as eligible collateral by the Eurosystem. 

On stock exchanges, more and more decisions are being made by artificial intelligence. Bundesbank Executive Board member Fritzi Köhler-Geib explains the implications of dependence on the United States and China as well as how AI can often be as biased as humans.

Private and public digital money will likely coexist in a future digital payment ecosystem, Executive Board Member Fritzi Köhler-Geib said during a fireside chat with Chiara Scotti, Deputy Governor of Banca d’Italia, at Villa Vigoni in Menaggio, Italy. The chat was part of a research workshop on payments and digital assets, jointly organised by Banca d’Italia and the Bundesbank.

Die Europäische Zentralbank hat gegen die Banque Internationale à Luxemburg (BIL) eine Verwaltungsgeldbuße von 3,255 Mio. € (3 255 000 €) verhängt, weil die Bank ihre genehmigten internen Modelle vorsätzlich nicht zur Berechnung des erwarteten Verlusts aus ausgefallenen Risikopositionen im Privat- und Unternehmenskundengeschäft verwendet hat.