Third, the Council is committed to supporting efforts to modernize supervisory and regulatory frameworks for banks and credit unions going forward. Regulation and supervision should address material risk, enhance transparency and reduce unnecessary burdens, particularly for community banks. Fourth, The Council is prioritizing the responsible use of artificial intelligence to strengthen financial stability. The Council is working with public and private sector partners including international counterparts to enhance system resilience while closely monitoring emerging risk. I will close by highlighting our progress in enhancing the utility of our annual report. (09:55–10:01)
CLAIM
Asserts that the Council prioritizes responsible AI use for financial stability.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
