Hill Says FDIC Won’t Rule Out Agentic AI Bank-Run Risk
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Travis Hill, FDIC chairman, says the agency is not ruling out risks from AI tools that could allow customers to move deposits more quickly in search of higher returns, though he says such a scenario would require a significant shift in how customers delegate financial decisions. Hill also says there is a “strong case” for expanding deposit insurance coverage, either by raising the current limit or creating a category of accounts with higher coverage. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram
Tags: AI risks, Banking, Bond Market, Bonds, Borrowing costs, Federal Deposit Insurance Corp., Federal Reserve, Inflation, Interest Rates, Joe Mathieu, Kailey Leinz, Midterms, Travis Hill, US Banks, artificial intelligence, bank, banking system, crypto, deregulation
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