Category «Financial System»

Mapping the World’s Readiness for Artificial Intelligence Shows Prospects Diverge

IMF – “New AI Preparedness Index Dashboard tracks 174 economies based on their digital infrastructure, human capital, labor policies, innovation, integration and regulation, Giovanni Melina June 25, 2024. Artificial intelligence can increase productivity, boost economic growth, and lift incomes. However, it could also wipe out millions of jobs and widen inequality. Our research has already …

Subjects: AI, Economy, Education, Financial System, Government Documents, Legal Research

US banks seek to open vendors’ black box on green data

Risk.net – Inaugural Fed climate scenario analysis flags lack of transparency around third-party models: “The US Federal Reserve and the country’s largest banks have had their differences, especially in recent months. But the regulator’s first ever climate scenario analysis has revealed a common cause: frustration over the climate risk models provided by third party vendors. …

Subjects: Climate Change, Economy, Environmental Law, Financial System, Government Documents, Legal Research

America in Facts 2024: A Data-Driven Report for Congress

“To create America in Facts 2024, USAFacts interviewed Congressional staff on their topics of interest and the challenges they face when using data. These interviews spanned the House of Representatives and the Senate, included Republicans and Democrats, and identified several topics that we used to inform this report. We hope that members of Congress and …

Subjects: Congress, Economy, Financial System, Government Documents, Health Care, Legal Research, Transportation

2024 Law Firm Climate Change Scorecard

Law Students for Climate Accountability: “We are delighted to announce the launch of our first-ever multinational report. Expanding upon our 2024 Law Firm Climate Change Scorecard, which grades the “Vault 100” firms according to their fossil fuels work, the full report includes additional U.K. and Irish firms as well as lessons from COP28 and recent …

Subjects: Climate Change, Economy, Environmental Law, Financial System, Marketing

Visualizing Americans’ Preferred Payment Methods

Visual Capitalist – Charted: America’s Shift to a Cashless Society: “A cashless society is one in which financial transactions are conducted primarily through digital means rather than physical cash, relying on technologies like credit cards and mobile payments. While no country today has fully reached this concept, there are some (like China and South Korea) …

Subjects: Economy, Financial System, Government Documents

Artificial Intelligence Is Making The Housing Crisis Worse

The Lever: “…Landlords are increasingly turning to private equity-backed artificial intelligence (AI) screening programs to help them select tenants, and resulting cases like Robinson’s are just the tip of the iceberg. The prevalence of incorrect, outdated, or misleading information in such reports is increasing costs and barriers to housing, according to a recent report from …

Subjects: AI, Economy, Financial System, Housing, Legal Research

An elite handful of analysts, actuaries, and accountants have mastered Excel

The Verge – “…arguably the most important software in the business world. So what do they do in Vegas? They open a spreadsheet…Competitive Excel has been around for years, but only in a hobbyist way. Most of the people in this room full of actuaries, analysts, accountants, and investors play Excel the way I play …

Subjects: Economy, Education, Financial System, Knowledge Management, Legal Research

Banks and Nonbanks Are Not Separate, but Interwoven

Liberty Street Economics: “In our previous post, we documented the significant growth of nonbank financial institutions (NBFIs) over the past decade, but also argued for and showed evidence of NBFIs’ dependence on banks for funding and liquidity support. In this post, we explain that the observed growth of NBFIs reflects banks optimally changing their business …

Subjects: Economy, Financial System, Legal Research

Clarence Thomas, the Gordon Gekko of the Supreme Court

Prevail: “There’s a scene in Wall Street where Michael Douglas’s Gordon Gekko is explaining to Charlie Sheen’s Bud Fox the difference between being rich and being rich. “I’m talking about liquid,” he says in the back of his limousine. “Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred …

Subjects: Civil Liberties, Congress, Courts, Financial System, Government Documents, Legal Research

Financial regulators have ‘insufficiently’ addressed hedge funds’ use of AI

FedScoop: ” SEC and CFTC oversight of how investment vehicles use AI to inform trading decisions is lacking and poses risks to market stability, a report from the majority staff of the Senate Homeland Security and Governmental Affairs Committee finds. Federal financial regulators are playing catch-up in their oversight of how hedge funds are using …

Subjects: AI, Congress, Education, Financial System, Legal Research

ProPublica Updates “Supreme Connections” Database With New Justice Disclosures

“We updated our “Supreme Connections” database on Wednesday with new entries from recently released financial disclosures from Supreme Court justices, as well as five filings from 2003 to 2007 we had previously been missing. “Supreme Connections” is our database that makes it easy for anyone to browse justices’ financial disclosures and to search for connections …

Subjects: Courts, Financial System, Government Documents, Legal Research