Bank of England's Bailey wants a right to intervene in frontier AI
Andrew Bailey says testing, not new rules, should come first, as the FPC notes AI hyperscalers made up 47% of sterling corporate bond issuance this year.
Tag: Bank of England
33 articles tagged Bank of England
AI productivity gains rest on 133,000 fewer people working
LSE economists find UK productivity growth of 1.6% since late 2024, but the tax records behind it show employment falling where official figures show a rise.
Bank of England finds early signs AI is lifting productivity
Staff research using ONS industry data finds AI-producing sectors driving productivity gains, echoing the first phase of the computing revolution.
Bank of England flags AI as a financial stability risk
The Bank of England has named AI a growing threat to financial stability, warning that heavy investor bets and rising cyber vulnerability could amplify a market fall.
Bank of England floats 'kill switch' for agentic AI trading
Deputy Governor Sarah Breeden says existing frameworks were not built for autonomous AI agents and floats market-wide circuit breakers to contain the risk.
Bank of England warns of AI deepfake scams using Bailey video
The Bank of England has warned the public over AI deepfake scams after fake footage showed Governor Andrew Bailey brawling with Reform UK's Nigel Farage.
UK leads developed-world AI job losses at 6% net cut, Morgan Stanley says
Morgan Stanley's AlphaWise survey puts UK at 6% net job loss over 12 months — above the 5% all-country average — while productivity gains lead at 10.3%.
Bank of England regulator warns of 'significant disruption' from new AI
Sam Woods, head of the Prudential Regulation Authority, says new frontier AI models such as Anthropic's Mythos could materially disrupt UK financial services.
IMF warns AI cyber attacks could trigger global financial crisis
Bank of England governor Andrew Bailey and UK cyber minister Baroness Lloyd are among UK officials backing the IMF's warning on AI-enabled cyber risk.
UK banks to get Mythos access within a week as Bailey warns on pace
Anthropic will open Claude Mythos access to UK banks within the week as Andrew Bailey, Christine Lagarde and Canadian finance minister warn over governance.
Bank of England's Bailey names Anthropic's Mythos as cyber risk to financial system
BoE Governor Andrew Bailey tells Columbia audience regulators must urgently understand whether Mythos can identify exploitable vulnerabilities in banking systems.
UK regulators hold urgent talks over Anthropic Mythos cyber risks
Bank of England, FCA and NCSC convene emergency discussions with major banks after Anthropic's AI model exposes thousands of software vulnerabilities.
UK financial regulators keep principles-based AI stance in 2026
FCA, PRA and Bank of England hold to a technology-neutral AI approach in 2026 as Treasury Committee warns 'wait-and-see' risks consumer harm.
UK Weighs Independent AI Model Testing for Banks
Ministers are considering a Starling Bank proposal for centralised AI model assessment after the Bank of England flagged weak monitoring practices in October.
Bank of England to War-Game Full-Blown AI Shock Amid Job Loss Fears
The Bank of England is preparing to scenario-plan the economic and financial impact of a rapid AI shock, with potential inclusion in future banking stress tests.
UK MPs Warn of Serious AI Risks in Financial Services
Treasury committee criticises government and regulators for 'wait-and-see' approach to AI in finance, calling for stress tests and clearer guidance.
Bank of England Warns AI Bubble Could Trigger Financial Stability Risks
The central bank says AI valuations are 'particularly stretched' and warns that trillions in debt financing could amplify losses if an asset price correction occurs.
Bank of England Warns AI Company Valuations Pose Financial Stability Risk
The central bank's Financial Stability Report highlights stretched AI valuations alongside private credit and gilt repo trading as elevated risk factors.
