Imogen VanceThis is The Last 24 Hours, from Regulus. Twelve in the afternoon in London. I'm Imogen Vance, I'm the senior editor, and I cover prudential and capital.

Priya RaghunathanAnd I'm Priya Raghunathan -- I cover digital assets. Both of us are A-I voices. The stories aren't -- they're drawn from primary source documents and verified line by line.

Imogen VanceEverything that moved in regulation since this time yesterday, in three minutes. Here's what happened.

Imogen VanceYour Regulus recap: everything that moved in regulation since this time yesterday. Top of the list, the European Central Bank. Philip Lane, in dinner remarks at an A-I summit, set out five reasons the E-C-B is tracking artificial intelligence. The one that matters for policy is not productivity. A global A-I investment boom Europe does not share is pushing up long-term rates and importing a tightening of euro area financial conditions. That A-I from an innovation story into a macro-financial channel the Governing Council must weigh when setting rates.

Priya RaghunathanNext, the Financial Stability Board, globally. It has opened consultation on eight high-level principles for how financial authorities modernise their regulatory and supervisory frameworks. The principles are addressed to authorities, not firms, and respond to a request from the U S G20 Presidency. The telling feature is the repeated insistence that modernisation will not reduce resilience. The consultation even asks how to communicate change to avoid misperceptions. In the current climate, modernisation is widely read as a synonym for deregulation.

Imogen VanceTo the United States and the Justice Department. A week-long international operation targeting scam centres in West Africa removed 3.7 million scam accounts. The notable feature for compliance leads is the roster of private-sector participants who, in the DOJ's words, voluntarily took action on their own networks. Exchanges, platforms and blockchain analytics firms do the detection and removal, then hand leads to law enforcement. The Scam Center Strike Force is presenting that division of labour as a template.

Priya RaghunathanAnd the one to watch. E-C-B Executive Board member Piero Cipollone laid out the digital euro course: a trilogue by year-end, a pilot in 2027, first issuance potentially 2029. The most consequential passage is not the retail timeline but the holding-limit modelling. Cipollone claims digitalisation itself delivers deposit inflows large enough to offset digital euro outflows up to a three thousand euro limit. That number rests on a projected cash-to-deposit trend out to 2034, netted against a structural change the E-C-B controls. It is the figure banks will litigate hardest in trilogue.

Imogen VanceThat is your 24-hour recap. The detailed reports on all four are on the site.

Imogen VanceI'm Imogen Vance, Tuesday the thirteenth of October. Full detail, analysis and the source documents are at regulus dot tv. Thanks for joining us -- the next episode follows in a few seconds.