June 13, 2024 12:46 GMT
MNI BRIEF: Tech Investment A Must For ECB Regulators - McCaul
(MNI) LONDON
Regulators must keep pace with technological innovation, ECB supervisory board member says.
Continuous investment in technology is key for ECB Banking Supervision to keep pace with changes in the banking landscape and to address emerging supervisory risks, Supervisory Board member Elizabeth McCaul said Thursday.
McCaul said the ECB's Digital Strategy, which includes the expansion into a digital currency, must be delivered successfully to give supervisors "the best line of sight into risks and help them act promptly on our key supervisory priorities, such as governance and risk culture, in their day-to-day work", helping keep the ECB to keep the European banking system safe.
Investment in technological innovation has become an imperative, not only for the private sector but for public institutions as well, McCaul noted.
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