Central banks worry that some tech giants have become too big to fail--Reuters

Dow Jones2021-08-20

MW Central banks worry that some tech giants have become too big to fail--Reuters

Central bank regulators have been grappling with technology companies such as Alphabet Inc. $(GOOGL)$, Amazon.com Inc. $(AMZN)$ and Microsoft Corp. $(MSFT)$ that have become too big to fail because they provide a backbone to the global financial system, Reuters reported on Friday . Critical operations such as payments, online banking and cloud-based transactions have created a step up in potential risks to the financial system, central bank sources told Reuters. A technology problem or security breach at one cloud company could trigger shutdowns in key services across multiple banks and countries and undermine confidence in the financial system, regulators told Reuters. The U.S. Treasury, European Union, Bank of England and Bank of France have ramped up efforts to scrutinize cloud technology to mitigate the risks of banks relying on a small group of tech firms or cloud providers.

-MarketWatch

 

$(END)$ Dow Jones Newswires

August 20, 2021 11:21 ET (15:21 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

发表看法
2