Bank of England Governor Calls for 'Right to Intervene' in AI as Financial Stability Risks Grow

Bank of England Governor Andrew Bailey has called for authorities to retain the right to intervene in AI, warning that rogue frontier models pose "real and increasingly significant" risks to financial stability. He cited AI's role in amplifying cyber threats capable of disrupting card payments, bank transactions, and securities trading, while the Bank's Financial Policy Committee warned that rising AI debt is adding to systemic financial risk.