AI proves helpful for banks facing new cash penalties for settlement failures
According to one report, banks have been hit with penalties of up to €5 million per month under new CSDR settlement rules. As a result, banks are turning to AI to help.
Firms should not be quick to dismiss settlement failures, especially given regulators’ interest in preventing those failures.
The Settlement Discipline Regime phase of the European Union’s Central Securities Depositories Regulation (CSDR) that took effect on February 1, 2022, introduced new rules for cash penalties. According to fintech firm AccessFintech, banks were hit with penalties as high as €5 million ($5.4 million) per month. Firms could also be further squeezed by proposals to shorten
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