Financial Stability in the Emerging Technology Landscape (Speech by Shri Swaminathan J, Deputy Governor, Reserve Bank of India - August 14, 2024 - at the International Conference of the International Association of Deposit Insurers- Asia Pacific Regional Committee (IADI-APRC) hosted by the Deposit Insurance Credit Guarantee Corporation (DICGC) held in Jaipur) https://www.taxtmi.com/news?id=27789 Deposit insurers must address technology-induced systemic risk by strengthening oversight, integrating technology and operational resilience into supervisory ratings, and adopting risk-based premiums tied to institution-specific technology exposures. They should develop advanced risk-assessment tools incorporating cybersecurity and digital-payment stress testing, exercise robust third-party oversight, and invest in technology and expertise to speed claim settlements and detect fraud. Regular stress tests, simulations and comprehensive contingency planning form the core of effective crisis preparedness to preserve depositor confidence. en-us Wed, 14 Aug 2024 16:24:58 +0530 Wed, 14 Aug 2024 16:24:58 +0530 TaxTMI RSS Generator Financial Stability in the Emerging Technology Landscape (Speech by Shri Swaminathan J, Deputy Governor, Reserve Bank of India - August 14, 2024 - at the International Conference of the International Association of Deposit Insurers- Asia Pacific Regional Committee (IADI-APRC) hosted by the Deposit Insurance Credit Guarantee Corporation (DICGC) held in Jaipur) https://www.taxtmi.com/news?id=27789 Deposit insurers must address technology-induced systemic risk by strengthening oversight, integrating technology and operational resilience into supervisory ratings, and adopting risk-based premiums tied to institution-specific technology exposures. They should develop advanced risk-assessment tools incorporating cybersecurity and digital-payment stress testing, exercise robust third-party oversight, and invest in technology and expertise to speed claim settlements and detect fraud. Regular stress tests, simulations and comprehensive contingency planning form the core of effective crisis preparedness to preserve depositor confidence. News - Wed, 14 Aug 2024 16:24:58 +0530 https://www.taxtmi.com/news?id=27789