Bank of England governor and FSB chair Andrew Bailey told G20 finance ministers and central bank governors in a letter that frontier AI models’ cyber risks are increasing the risk of a market crash and called for more countries to control model releases. He said financial firms and tech groups must prepare for a “scenario in which multiple firms or shared‑technology dependencies are simultaneously more severely disrupted.” Bailey warned AI cyber risk is amplifying existing financial vulnerabilit

Bank of England governor and FSB chair Andrew Bailey told G20 finance ministers and central bank governors in a letter that frontier AI models’ cyber risks are increasing the risk of a market crash and called for more countries to control model releases. He said financial firms and tech groups must prepare for a “scenario in which multiple firms or shared‑technology dependencies are simultaneously more severely disrupted.” Bailey warned AI cyber risk is amplifying existing financial vulnerabilities — energy‑driven inflation, higher interest rates, elevated investor leverage and rich equity valuations. He urged countries to take “appropriate steps” to regulate releases of frontier AI models, an appeal that appears aimed at persuading the US to rethink its relatively light‑touch stance; President Trump’s recent executive order does not grant the government authority to block model releases.