Opening Remarks

At the Eighth Annual Fintech Conference, Philadelphia, Pennsylvania

第八届金融科技年度会议，宾夕法尼亚州费城

[Right/Left Arrows] seeks the video forwards and back (5 sec );

[右/左箭头] 向前和向后搜索视频（5 秒）；

The [Tab] key may be used in combination with the [Enter/Return] key to navigate and activate control buttons, such as caption on/off.

[Tab] 键可以与 [Enter/Return] 键结合使用来导航和激活控制按钮，例如字幕开/关。

Good morning.

早上好。

1 It is a pleasure to join you for the second day of the Eighth Annual Fintech Conference hosted by the Federal Reserve Bank of Philadelphia.

1 很高兴参加由费城联邦储备银行主办的第八届金融科技年度会议的第二天。

While I am disappointed not to be able to join you in person this morning, I am pleased to be among the more than 1,000 participants joining today's discussion online.

虽然我很遗憾今天早上不能亲自参加你们的会议，但我很高兴能成为 1,000 多名参与者之一，参加今天的在线讨论。

The agenda today promises to be just as informative and thought-provoking as yesterday's session.

今天的议程有望与昨天的会议一样内容丰富、发人深省。

Given that this conference provides an opportunity to engage in discussions about fintech and its importance in the financial services industry, I'd like to reiterate something I have highlighted a number of times in the past.

鉴于这次会议提供了一个机会来讨论金融科技及其在金融服务行业的重要性，我想重申我过去多次强调过的事情。

Regulators have an obligation to understand the functionality of new innovations, including the benefits that innovation can bring and the accompanying risks.

监管机构有义务了解新创新的功能，包括创新可以带来的好处以及伴随的风险。

2 Conferences like this enable us to expand our knowledge and understanding of these benefits and risks by bringing together experts throughout the financial system to discuss important developments and emerging issues related to financial technology.

2 此类会议让整个金融系统的专家齐聚一堂，讨论与金融技术相关的重要发展和新出现问题，从而扩大我们对这些收益和风险的认识和理解。

These discussions help to inform our work throughout the Federal Reserve System.

这些讨论有助于为我们整个联邦储备系统的工作提供信息。

Often the pace of technological change can be rapid.

技术变革的步伐通常很快。

New or improving technologies have the potential to make our banking system faster and more efficient.

新技术或改进的技术有可能使我们的银行系统更快、更高效。

They can result in both lowering the cost of and expanding the availability of products and services for consumers.

它们可以降低消费者的成本并扩大产品和服务的可用性。

But they can also carry risks.

但它们也可能带来风险。

To be effective in the face of this ongoing evolution, regulators must be aware of the potential risks and how existing technology could be leveraged for new services.

为了有效应对这种持续的演变，监管机构必须意识到潜在风险以及如何利用现有技术提供新服务。

Therefore, we must remain vigilant but nimble in our approach.

因此，我们必须保持警惕，但也要灵活应对。

This requires us to recognize and follow three innovation related principles: First, we must be willing to develop an understanding of new technology.

这要求我们认识并遵循三个与创新相关的原则：首先，我们必须愿意了解新技术。

Second, we must be open in considering how we approach innovation.

其次，我们必须开放地考虑如何进行创新。

And finally, we must prioritize how we integrate innovation as we revise or enhance regulatory frameworks.

最后，我们在修订或加强监管框架时必须优先考虑如何整合创新。

Turning back to why we are here today: This conference was launched back in 2017.

回到我们今天在这里的原因：本次会议于 2017 年发起。

It has grown in standing and relevance every year since.

此后，它的地位和相关性每年都在增长。

As President Harker noted in his remarks yesterday, the conference has become a System highlight because of its ability to focus on and keep pace with the change of technology.

正如哈克主席昨天在讲话中指出的那样，这次会议之所以成为系统亮点，是因为它能够关注并跟上技术变革的步伐。

This conference also embodies the principles I just articulated of working to understand new technologies, having an openness to innovation, and considering policy choices that enable integration of financial technology in the banking and financial system.

这次会议还体现了我刚才阐述的原则，即努力了解新技术、对创新持开放态度，并考虑将金融技术融入银行和金融体系的政策选择。

Year-after-year, this event provides an opportunity for us to come together to engage and learn about fintech issues, keeping an eye toward the future.

年复一年，这项活动为我们提供了一个聚集在一起参与和了解金融科技问题、关注未来的机会。

But we must recognize that the success and growth of this conference is due to the leadership and vision of President Harker.

但我们必须认识到，本次会议的成功和发展归功于哈克主席的领导和远见。

For those who may not be aware, at the end of June next year, President Harker will reach the Federal Reserve retirement requirements, and unfortunately, this will be his final Fintech Conference as President and CEO of the Philadelphia Fed.

也许有人不知道，明年 6 月底，哈克总统将达到美联储的退休要求，不幸的是，这将是他作为费城联储总裁兼首席执行官的最后一次金融科技会议。

I want to congratulate Pat on the creation and success of this conference, and to look forward to the ongoing and future legacy he has created for the Philadelphia Reserve Bank with this event.

我要祝贺帕特举办这次会议并取得成功，并期待他通过这次活动为费城储备银行创造持续和未来的遗产。

President Harker is, by his own admission, an "accidental economist." He's an engineer first and, in fact, came to the field of economics through an engineering issue that required economics to solve.

哈克总统自己承认，他是一位“偶然的经济学家”。他首先是一名工程师，事实上，他是通过一个需要经济学来解决的工程问题进入经济学领域的。

Well, as someone who has sat at the Federal Open Market Committee conference table with President Harker for the past six years, I can attest to this approach—he enlists this engineering perspective to assist in understanding economic issues.

好吧，作为过去六年与哈克总统一起坐在联邦公开市场委员会会议桌旁的人，我可以证明这种方法——他利用这种工程视角来帮助理解经济问题。

That methodical approach to issues, and his willingness to look deep under the proverbial hood, is his hallmark at the Philadelphia Fed.

这种处理问题的有条不紊的方法，以及他愿意深入了解众所周知的真相，是他在费城联储的标志。

Through his leadership, the Bank has built strong partnerships with communities throughout the Third District who know they can rely on this institution for expert knowledge and data research that are critical to working through local concerns.

在他的领导下，世行与整个第三区的社区建立了牢固的合作伙伴关系，他们知道他们可以依靠该机构提供专家知识和数据研究，这对于解决当地问题至关重要。

It was also under his leadership that the Philadelphia Fed's Consumer Finance Institute took its current shape.

也是在他的领导下，费城联储消费者金融研究所才形成了现在的规模。

Today, the Institute's multidisciplinary approach to issues—bringing together economists, industry and regulatory experts, and community development specialists—is redefining our understanding of consumer credit and payments.

如今，该研究所针对问题的多学科方法——将经济学家、行业和监管专家以及社区发展专家聚集在一起——正在重新定义我们对消费者信贷和支付的理解。

And, he has positioned the Philadelphia Fed as a true thought leader in technology and innovation, and in the application of both hard and soft data.

而且，他将费城联储定位为技术和创新以及硬数据和软数据应用方面真正的思想领袖。

This conference is just the most public example of this.

这次会议只是这方面最公开的例子。

His decision, nearly a decade ago, to give the green light to a conference specifically geared to fintech proves that President Harker is clearly standing in the center of the intersection of engineering and economics.

近十年前，他决定为专门针对金融科技的会议开绿灯，这证明哈克总统显然站在工程和经济学交叉点的中心。

So, while I do not wish to detract from any of our speakers, panelists, and presenters today, I must recognize and thank President Harker for his forward-looking leadership.

因此，虽然我不想转移今天任何发言人、小组成员和主持人的注意力，但我必须认可并感谢哈克总统的前瞻性领导。

The Third District and the Federal Reserve System are both better for his service.

第三区和联邦储备系统都更适合他的服务。

Pat, thank you!

帕特，谢谢你！

To close, thank you again for allowing me these few moments to start the day.

最后，再次感谢您给我这些时间来开始新的一天。

I look forward to today's discussion and to our conversations.

我期待着今天的讨论和我们的对话。

1.

1.

These remarks represent my own views and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee.

这些言论仅代表我个人的观点，并不一定代表我在美联储委员会或联邦公开市场委员会的同事的观点。

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2.

2.

Michelle W.

米歇尔·W.

Bowman, "Innovation in the Financial System" (speech at the Salzburg Global Seminar on Financial Technology Innovation, Social Impact, and Regulation: Do We Need New Paradigms?, Salzburg, Austria, June 17, 2024).

Bowman，“金融体系的创新”（在萨尔茨堡金融技术创新、社会影响和监管全球研讨会上的演讲：我们需要新范式吗？，奥地利萨尔茨堡，2024 年 6 月 17 日）。

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