emmanuel tumusiime - mutebile : bankers ’ code of conduct remarks by prof emmanuel tumusiime - mutebile, governor of the bank of uganda, at the launch of the uganda bankers association code of conduct, kampala, 2 december 2010. * * * the chairman, uganda bankers association executives of commercial banks the executive director, uganda bankers association management and staff of the association distinguished guests in your respective capacities ladies and gentlemen it is a great honor and pleasure to be with you tonight, to witness the launch of the code of conduct for the uganda bankers association. i congratulate the uganda bankers ’ association on this important milestone and for the commendable job of fostering good governance and international best practices in the banking industry. the code of conduct will greatly contribute to the enhancement of public confidence in the banking sector. the code of conduct will undoubtedly contribute to overall integrity and security of the banking sector and help to further nurture the already conducive working relationships between the various banks and their customers. as you are aware, the code of conduct is drawn up to guide all member banks of the uba in their relationship with their customers with regards to the services they offer. through adherence by member banks to the requirements and principles of the code of conduct, immense benefits will go to customers through better and standardized services. ladies and gentlemen, the code of conduct also aims at promoting and maintaining high standards of professional and moral behavior within the banking sector. it is imperative, therefore, that on a continuous basis, you encourage your staff to familiarise themselves with the code of conduct and to ensure that they adhere to its principles in all aspects of their work. for purposes of promoting transparency, i urge you to ensure that customers are kept abreast with the terms and conditions governing your respective banking services as they change from time to time. this will ensure that customers are adequately equipped to make informed decisions on which services to subscribe to at any given time. on the part of the central bank, we are in the process of issuing consumer protection guidelines, which we have shared with banks. it is my sincere hope that the code of conduct and the consumer protection guidelines complement each other in promoting best practices in satisfying customer demands. the issue of safeguarding customers ’ confidentiality cannot be over - emphasized. in this respect therefore, i urge you to observe your duty of strict confidentiality with regards to customer information. furthermore, i encourage you to continue to review periodically the code of

for release on delivery 9 : 35 a. m. est january 12, 2021 supporting responsible use of ai and equitable outcomes in financial services remarks by lael brainard member board of governors of the federal reserve system at the ai academic symposium hosted by the board of governors of the federal reserve system washington, d. c. virtual event january 12, 2021 today ’ s symposium on the use of artificial intelligence ( ai ) in financial services is part of the federal reserve ’ s broader effort to understand ai ’ s application to financial services, assess methods for managing risks arising from this technology, and determine where banking regulators can support responsible use of ai and equitable outcomes by improving supervisory clarity. 1 the potential scope of ai applications is wide ranging. for instance, researchers are turning to ai to help analyze climate change, one of the central challenges of our time. with nonlinearities and tipping points, climate change is highly complex, and quantification for risk assessments requires the analysis of vast amounts of data, a task for which the ai field of machine learning is particularly well - suited. 2 the journal nature recently reported the development of an ai network which could “ vastly accelerate efforts to understand the building blocks of cells and enable quicker and more advanced drug discovery ” by accurately predicting a protein ’ s 3 - d shape from its amino acid sequence. 3 application of ai in financial services in november 2018, i shared some early observations on the use of ai in financial services. 4 since then, the technology has advanced rapidly, and its potential implications have come into sharper focus. financial firms are using or starting to use ai for operational risk i am grateful to kavita jain, jeff ernst, carol evans, and molly mahar of the federal reserve board for their assistance in preparing this text. these remarks represent my own views, which do not necessarily represent those of the federal reserve board or the federal open market committee. david rolnick, et al., “ tackling climate change with machine learning, ” https : / / arxiv. org / pdf / 1906. 05433 ; sarah castellanos, “ climate researchers enlist big cloud providers for big data challenges, ” the wall street journal, november 25, 2020, https : / / www. wsj. com / articles / climate - researchers - enlist - big - cloud - providers - for - big - datachallenges - 11606300202. ewen callaway, “ ‘ it will change everything