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  • Frank Tian

BIS on Big Tech Risk

🚩 Risk Rising from Technology Efficiency

BIS recently published a report to warn about the risk of growing dependencies on big techs - from both financial institutions and regional techs.

Here is a brief summary.

🟦 Interdependencies of Big Techs

Infrastructure: cloud, analytics.

Partnerships: distribution, acquisition.

The interdependencies continue to grow.

Driven by the benefits of scale and breadth.

🟥 Risks - Already Part of the Reality

When one big tech fails, many go down.

Currently sectional regulation only.

Growing systemic risk.

“A policy blind spot”.

🟩 Regulators: What to Do

While working on a new framework ...

Indirect way: focus on regulated FIs

Direct way: oversight of critical providers

Specific entity-based rules (China: Ant Financial)

“Big tech interdependencies – a key policy blind spot” The full 35-page report:

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