Barcelona report 7 - front cover image Report Barcelona 7: Artificial Intelligence in Finance Thierry Foucault Leonardo Gambacorta Wei Jiang Xavier Vives Chapters The transformational impact of artificial intelligence for the financial sector and central banks Artificial intelligence in finance: Introduction Artificial intelligence and the financial sector: Transformations, challenges, and regulatory responses AI’s impact on finance: Reshaping information and its consequences Corporate finance and governance with artificial intelligence: Old and new Artificial intelligence in finance: Discussions
Barcelona report 7 - front cover image Report Barcelona 7: Artificial Intelligence in Finance Thierry Foucault Leonardo Gambacorta Wei Jiang Xavier Vives Chapters The transformational impact of artificial intelligence for the financial sector and central banks Artificial intelligence in finance: Introduction Artificial intelligence and the financial sector: Transformations, challenges, and regulatory responses AI’s impact on finance: Reshaping information and its consequences Corporate finance and governance with artificial intelligence: Old and new Artificial intelligence in finance: Discussions
Barcelona Report 6 - cover image Report Barcelona 6: Banking Turmoil and Regulatory Reform Viral Acharya Elena Carletti Fernando Restoy Xavier Vives Chapters Banking turmoil: Some reflections for prudential regulation and supervision Barcelona 6: Banking Turmoil and Regulatory Reform: Introduction Boom and bust in uninsured bank deposits... and what can be done about it Prudential regulation, accounting and supervision Lessons for bank failure management Annex: How much loss absorption for medium-sized banks?
Cover image Barcelona 5 Report Barcelona 5: The International Economic and Financial Order After the Pandemic and War Giancarlo Corsetti Barry Eichengreen Xavier Vives Jeromin Zettelmeyer Chapters The International Economic and Financial Order After the Pandemic and War: Introduction Macro times are a-changing: Stabilisation policies after Covid-19 and the war in Ukraine The international monetary landscape: Implications of the Russia-Ukraine War, the rise of China and new digital technologies Sovereign debt after the pandemic and the war The International Economic and Financial Order After the Pandemic and War: Discussions
Barcelona4 Report Barcelona 4: Technology and Finance Darrell Duffie Thierry Foucault Laura Veldkamp Xavier Vives Chapters Executive Summary: More than an intellectual game: Exploring the monetary policy and financial stability implications of central Executive Summary: More than an intellectual game: Exploring the monetary policy and financial stability implications of central Introduction: Finance and Technology Payment system disruption: Digital currencies and bank-railed payment innovation Data policy and data measurement Technology, data and trading in securities markets Discussions: Technology and Finance
Barcelona 3: Resilience of the Financial System to Natural Disasters Report Barcelona 3: Resilience of the Financial System to Natural Disasters Patrick Bolton Marcin Kacperczyk Harrison Hong Xavier Vives Chapters The role of central banks and banking supervisors in climate action Resilience of the Financial System to Natural Disasters: Introduction Green swans and risk management Natural disasters, climate change and central banks Asset managers' response to natural disasters Mitigating disaster risks to the financial system Natural disasters, climate change and central banks: Introduction Including climate change in central bank mandates Understanding climate change risks Central bank climate policies in the context of net-zero commitments Natural disasters, climate change and central banks: Conclusion Asset managers' response to natural disasters: Introduction The asset management paradigm Asset managers' response to natural disasters: Conclusion Building resilience to climate change and natural disasters Mitigation of climate change and natural disasters Implications for efficiency and welfare Mitigating disaster risks to the financial system: Introduction Mitigation Cover-19 risks to the stock market Decarbonisation and climate disasters Sustainable finance commitments needed to achieve net zero Conclusion and policy implications Resilience of the Financial System to Natural Disasters: Discussions
Barcelona 2: The Bank Business Model in the Post-Covid-19 World Report Barcelona 2: The Bank Business Model in the Post-Covid-19 World Elena Carletti Stijn Claessens Antonio Fatás Xavier Vives Chapters Digital money, payments and banks Digital disruption and banks’ business models Challenges to the business models of banks Introduction: Barcelona 2: The Bank Business Model in the Post-Covid-19 World Competitive strategies of the players Regulation, policy, and financial stability Banking in a post-Covid world Challenges to banks’ business models The role of banks in the economy Banking business models Evolution of bank profitability Challenges to banks’ business models: Conclusions Challenges to the sector’s development The digital economy and banks’ business models Technology in finance and banks’ business models Technology-driven changes in provision Evidence on technology-driven changes in financial services Risks and regulatory responses Policy issues raised by digitalisation The digital economy and banks’ business models: Summary Digital money, payments and banks Technology, digital money and payments New forms of digital money The role of regulators and central banks Technology, new entrants and competition Changes in the competitive landscape for banks Digital money, payments and banks: Conclusion Discussions: Barcelona 2: The Bank Business Model in the Post-Covid-19 World Discussion of Chapter 2 by Thorsten Beck: Barcelona 2: The Bank Business Model in the Post-Covid-19 World Discussion of Chapter 3 by Amit Seru: Barcelona 2: The Bank Business Model in the Post-Covid-19 World Discussion of Chapter 4 by Dirk Niepelt: Barcelona 2: The Bank Business Model in the Post-Covid-19 World
Barcelona 1: Sound At Last? Assessing a Decade of Financial Regulation Report Barcelona 1: Sound At Last? Assessing a Decade of Financial Regulation Patrick Bolton Stephen Cecchetti Jean-Pierre Danthine Xavier Vives Chapters Introduction: Barcelona 1: Sound At Last? Assessing a Decade of Financial Regulation Bank functions, fragility and narrow banking Basel III and beyond Resolving ‘too big to fail’ An expanded role for central banks Conclusions Regulatory reform: Basel III and beyond The structure of Basel III Capital regulation Liquidity regulation Non-bank Intermediation Resolving too big to fail Lessons from the crisis of 2007-2009: Why bank resolution was an impossible choice SIB resolution: What are the challenges and trade-offs? The SIB resolution model around ‘single point of entry’ Main takeaway An expanded role for central banks Conducting monetary policy at the zero lower bound Lender of last resort Updating the central bank financial stability mandate Legitimising an expanded mandate for independent central banks Discussions Discussion of Chapter 2 by Philipp Hartmann: Regulatory reform: Basel III and beyond Discussion of Chapter 3 by Fernando Restoy: The new bank resolution framework: Will it work? Discussion of Chapter 4 by John Vickers: An enlarged role for central banks