Dubai and Saudi

On 11 February 2025, the Bank of International Settlements published a speech by Denis Beau, First Deputy Governor of the Bank of France, at the Cercle IA et finance.

In his speech Mr Denis discusses, from a supervisor’s perspective, the opportunities and risks of AI and then the conditions necessary for effective regulation of AI

On 5 February 2025, the Basel Committee on Banking Supervision (Basel Committee) issued a public consultation on a limited update of the Principles for the Management of Credit Risk (Credit Risk Principles).

The Credit Risk Principles provide guidelines for banking supervisory authorities to evaluate banks’ credit risk management processes in certain

On 24 January 2025, the Global Foreign Exchange Committee (GFXC) issued a press release announcing that it had completed its review of the FX Global Code (Code).

This latest version of the Code will supersede the July 2021 version. Updates have been made to five of the Code’s fifty-five principles to

On 14 January 2025, the Bank for International Settlements (BIS) updated its webpage regarding its innovation hub.

The update includes information regarding the 2025-2026 work programme which includes:

  • At the start of 2025, the innovation hub’s project portfolio consisted of 26 active projects and 31 projects completed since its establishment in 2019. BIS

On 14 January 2025, the Financial Stability Board (FSB) issued a report on The Relevance of Transition Plans for Financial Stability.

Background

The report looks at the role that financial and non-financial firms’ transition plans can play for financial stability assessments, in particular as a source of information for monitoring climate-related financial

In recent years, diversity and inclusion (D&I) in the financial services sector has become a focus for regulators around the world. Individual regulators, however, have taken different approaches to D&I to reflect the local socio-economic environment.

Below, we provide a high-level summary of the position across a number of key jurisdictions updating our table published

On 12 December 2024, the Bank for International Settlement’s Financial Stability Institute published a paper which explores the potential transformative impact of artificial intelligence (AI) on the financial sector. In summary, the paper notes that while AI exacerbates existing risks such as model risk and data privacy, it does not introduce fundamentally new

The Global Foreign Exchange Committee (GFXC) has issued a press release following its virtual meeting on 5–6 December 2024.

Among other things the press release notes that:

  • The GFXC considered the final version of the amendments to the FX Global Code (Code) and the GFXC membership expressed strong support for the