Capitalising on regtech
Regulatory technology could be effective in improving data reporting and monitoring, but central banks have a long way to go to make it a reality
If one were to imagine the ideal financial supervision system of the future, it would probably look very different from what we have today. Financial institutions would report details of transactions to a central utility, from which regulators would be able to extract information in real time. They might monitor markets through multiple screens in futuristic control rooms, picking up systemic risks with the help of flashing lights and heat maps.
Data reporting requirements have increased
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