The impact of Covid on machine learning and data science in UK banking
This article reports findings from a survey conducted in August 2020 of banks headquartered or operating in the UK. The survey sought to understand how Covid has affected the adoption and use of machine learning and data science. We will continue to monitor how these technologies are used, including their benefits and risks, and explore how we can best support their safe adoption.
Cash in the time of Covid
During the Covid pandemic the way people use cash has changed, with less being used for transactions. People are spending less cash, but the total value of banknotes in circulation has increased as people appear to choose to hold more cash. These trends have persisted for a number of years, but have been magnified by the pandemic. This article explores the impact of the Covid pandemic on cash usage.
This article was published on 24 November 2020, outside of the normal Quarterly Bulletin publication schedule.
The Resolvability Assessment Framework: increasing transparency and accountability in bank resolution
In July 2019, we published the Resolvability Assessment Framework (RAF), the last major piece of the UK’s bank resolution regime. This article explains the motivations for the RAF and sets out how the RAF extends our approach to resolution policy. It also explores how banks can use our stylised resolution timeline to understand the key steps they could need to take during a resolution.
This article was published on 16 November 2020, outside of the normal Quarterly Bulletin publication schedule.
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