英国央行高级监管官员表示，由于外界对该行业惨烈调整的警惕情绪不断加剧，英国各家银行已开始削减对人工智能的敞口。
UK banks have begun trimming exposure to artificial intelligence as alarm mounts about a brutal correction in the sector, according to the Bank of England’s top supervisor.
凯瑟琳·布拉迪克自7月接任审慎监管局负责人以来首次接受采访时表示，英国央行对银行人工智能敞口的广泛盘问并未显示出贷款机构会成为任何人工智能冲击的“放大器”。不过，该央行并未表现得盲目乐观。
In her first interview since taking over the Prudential Regulation Authority in July, Katharine Braddick said the BOE’s extensive interrogation of banks’ AI exposure hasn’t shown that lenders would be an “amplifier” of any AI shock. Still, the central bank isn’t being complacent.
“我们现在都很警惕，不是吗？”她说道。尽管英国央行目前并不计划利用资本规则来鼓励降低敞口，但她谈到自己最近看到的收缩趋势时表示，各家银行“都在问自己这个问题”，即是否要减少敞口。“我可以看到各大公司在审视自己的风险偏好，并进行思考和权衡：‘这个客户可以，那个客户不行。’你确实能看到这种影响传导过来。”
“We’re all alarmed at the moment, aren’t we?” she said, though the BOE is not currently planning to use capital rules to encourage lower exposures. Banks are “all asking themselves that question” of whether to reduce exposure, she said of a retrenchment she’s seen recently. “I can see firms looking at their risk appetite and thinking and considering, ‘Yes this client, not that client.’ You do see it feed through.”
潜在的人工智能崩溃只是让布拉迪克保持警惕的众多事情之一。自她成为这个拥有13年历史的审慎监管局的首位外部接任者以来，这些事情就一直伴随着她。该机构是英国金融危机后基础设施的基石。布拉迪克加入该机构几个月前，Anthropic公司的Mythos模型曾让全球的监管机构和政府感到惊慌，迫使它们开始考虑由智能体人工智能发动的史无前例的网络攻击。
A potential AI implosion has been just one of the many things keeping Braddick on her toes since she became the first outsider to take over the 13-year-old PRA, a cornerstone of Britain’s post-financial crisis infrastructure. Braddick joined the authority a few months after Anthropic PBC’s Mythos model spooked watchdogs and governments across the world, forcing them to contemplate unprecedented cyberattacks perpetrated by agentic AI.
最近，美国中期选举引发了人工智能相关股票的抛售，造成了一场已经危及Anthropic备受期待的首次公开募股的溃败。
More recently, the US midterm elections drove a sell off in AI-related stocks, causing a rout that’s already imperiled Anthropic’s much-anticipated public offering.
布拉迪克毕业于剑桥大学，在巴克莱银行度过了三年的职业生涯之前，她曾从事了近二十年的政策制定工作。她表示，人工智能风险是“持续的对话”。在她与各大银行首席执行官的对话中，围绕运营韧性的更广泛问题迄今也是最受关注的核心问题。
Braddick, a Cambridge University graduate who spent almost two decades in policy before a three-year stint at Barclays Plc, says AI risks are “constant conversation.”Broader issues around operational resilience have also been of paramount concern in her conversations with bank chief executive officers so far.
审慎监管局和金融行为监管局将于本月晚些时候发布指南，内容关于如何应对来自前沿人工智能和量子计算的风险。布拉迪克表示，这一方法将“非常具体”，包括列出治理预期，并希望这将开启一场“迭代演练”，从而促成英国央行与行业之间更深层次的合作。
The PRA and Financial Conduct Authority will publish guidance later this month on how to deal with risks from frontier AI and quantum computing. Braddick said the approach would be “quite concrete,” including laying out governance expectations, and hopes it will kick off an “iterative exercise” that will lead to deeper partnerships between the BOE and the industry.
布拉迪克还在研究如何将英国央行行长安德鲁·贝利今年早些时候提出的“最低可行银行”框架付诸实践。这一概念将要求银行具备“裸机”功能，以便在遭受网络攻击时能够提供持续的服务。
Braddick is also looking at how to operationalize the “minimum viable bank” framework proposed by BOE Governor Andrew Bailey earlier this year, a concept that would require banks to have “bare metal” functions capable of delivering continuous service in case of a cyber-attack.
“这是一个紧迫的问题，”布拉迪克在谈到关于哪些银行应被要求拥有自身基础设施的审议时说道，她还谈到了如何为承担不起自身轨道的较小贷款机构建立一个结构。目前尚未确定引入此类规则的期限。
“It’s an urgent question,” Braddick said of deliberations on which banks should be required to have their own infrastructure, as well as how to create a structure for smaller lenders who can’t afford their own rails. No deadlines have been set for introducing such rules.
作为英国央行副行长，布拉迪克表示，这种以韧性为中心的工作是“我们能为英国竞争力所做的最重要的事情之一”。“运营韧性并不能带来财务韧性。但这两者并不匹配，所以我们需要提升运营韧性。”尽管如此，资本要求在关于竞争力的公开辩论中占据了中心地位，各大银行带头要求宽限。财政大臣约翰·海利最近致信行长贝利，敦促英国央行“尽快”实施商定的改革，并提出“进一步的提案”以保持英国的竞争力。
This kind of resilience-focused work is “one of the most important things we can do for the UK’s competitiveness,” Braddick, a deputy governor of the BOE, said. “Operational resilience doesn’t deliver financial resilience. But the two are out of kilter, so we need to uplift operational resilience.”Still, capital requirements have taken center stage in the public debate on competitiveness, with banks leading demands for reprieves. Chancellor of the Exchequer John Healey recently wrote to Governor Bailey urging the BOE to implement agreed reforms “as quickly as possible” and deliver “further proposals” to keep the UK competitive.
布拉迪克称海利的信件“完全可以理解”，尽管这并未改变她对审慎监管局资本处理方法的看法。
Braddick called Healey’s letter “completely understandable,” though it hadn’t changed her thinking on the PRA’s approach to capital.
该监管机构是金融政策委员会的成员。在去年决定将英国的基准资本要求降低1个百分点至13%之后，该委员会将于本周晚些时候讨论正在酝酿的一揽子资本改革方案。审议结果将于11月26日公布。
The regulator sits on the Financial Policy Committee, set to later this week discuss a package of capital reforms in the works, following last year’s decision to reduce the UK’s benchmark capital requirements by 1 percentage point to 13%. The outcome of the deliberations will be announced on Nov. 26.
“我对资本没有防御性立场，但它是我们开展的所有关于财务韧性的工作的基石，”她说道。她拒绝透露具体细节，例如将反周期资本缓冲的中性水平——即银行在正常经济条件下被要求持有的额外资本——降至2%以下，或是集中度风险费用。
“I don’t have a defensive position on capital, but it is the keystone of everything that we do about financial resilience,” she said. She declined to go into specifics, such as on lowering the countercyclical buffer’s neutral level — the additional capital banks are required to hold in normal economic conditions — to below 2% or concentration risk charges.
她表示，她不希望海利提出的“进一步提案”引发又一轮宏大的改革方案，并主张在经历了最近的变化之后，应当保持稳定性和可预测性。
She said she doesn’t expect “further proposals” by Healey to lead to another grand package of reforms, instead arguing the case for stability and predictability after recent change.
这种哲学正在推动审慎监管局制定其首个五年战略，她已承诺在明年年初发布该战略。布拉迪克表示，她的官员将“很快”开始在各大公司身上测试其中的一些理念，特别是围绕该机构应如何为增长和竞争力承担责任的理念。
That philosophy is helping drive the PRA’s first five-year strategy she’s promised to deliver early next year. Braddick said her officials would “soon” begin testing some of its ideas on firms, particularly around how the authority should be held accountable for growth and competitiveness.
审慎监管局还承诺提高透明度。布拉迪克表示，这在一定程度上是基于她在巴克莱银行工作的经历，当时她意识到从外部来看，监管机构是多么令人费解。各大银行一直在大力争取提高针对所谓其他系统性机构的关键资本缓冲的透明度，这一直以来都是一个黑箱。
The PRA has also promised more transparency, which Braddick said was partly informed by her time at Barclays when she realized how much of a mystery regulators can be from the outside. Banks have been pushing in particular for more transparency on a key capital buffer for so-called other systemic institutions, something that has long been a black box.
“我承认这种普遍看法，即我们的监管制度中有部分对企业而言是不透明的，我们有必要审视这种不透明性是否有必要，甚至是刻意为之，”她说道，并补充称她对“这种对话持开放态度”。布拉迪克似乎也愿意与瑞士银行集团进行对话。该银行已表示，如果瑞士继续推行新的资本制度，它对搬迁总部持开放态度。
“I recognize the general observation, which is that there are bits of our regime that are opaque to firms, where it’s useful for us to ask whether that opacity is necessary or even intended,” she said, adding that she was “open to that conversation.”Another conversation Braddick seems open to is with Swiss bank UBS Group AG, which has signaled it’s open to moving its headquarters if Switzerland pushes ahead with a new capital regime.
布拉迪克表示，她没有与“一家大型瑞士银行谈论它可能想把总部设在哪里”，但她最近几周确实听到了两家不同的公司询问关于迁往英国的事宜。
Braddick said she hasn’t spoken to “a large Swiss bank about where it might want to headquarter” but she has heard from two different firms in recent weeks that have asked about relocating to the UK.
“瑞银想做什么由瑞银自己决定，”她说道。“我们不追逐业务，但如果有公司对在英国落户意味着什么、是否适合它们感兴趣，我们随时愿意与它们谈谈。”
“What UBS want to do is up to UBS,” she said. “We don’t chase business, but where firms are interested in what it means to locate in the UK, whether it works for them, we would always want to talk to them.”