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By Huw Jones
LONDON, Jan 26 (Reuters) - The World Economic Forum (WEF)has created a new task force with Bank of England Governor MarkCarney and his counterpart at the Reserve Bank of India,Raghuram Rajan, to study how rapid changes in technology affectfinancial stability and growth.
The group, formed partly at the request of Carney, includesBank of America Chairman and CEO Brian Moynihan and HSBCChairman Douglas Flint.
"The group will focus on the inclusion of emerging marketeconomies in the global financial system, technology-enabledinnovation, and the economic cost benefit of post-crisisregulatory reforms," the WEF said in a statement.
Michael Corbat, CEO of Citigroup, and BlackRock Chairman andCEO Laurence Fink are also members, along with Min Zhu, deputymanaging director of the International Monetary Fund, and LiuMingkang, a research fellow at the Chinese University of HongKong.
The task force will look at emerging markets, technology,regulatory and monetary policies, loss of trust in financialservices, and financial inclusion.
The WEF's annual meeting in Davos last week discussed whatit called the Fourth Industrial Revolution, or the idea thattechnological advances will allow even greater levels ofautomation, transforming the global economy in profound ways.
WEF Managing Director Giancarlo Bruno said the timing of thetask force's creation was consistent with the WEF's focus on theFourth Industrial revolution.
"Its work will look into the implications of innovation onstability of the financial system and its role as growthengine," he said.
The task force aims to publish a comprehensive suite ofrecommendations and actions during the Davos annual meeting inearly 2017.
Carney also heads the G20's Financial Stability Board whichwrites and coordinates regulation for the world's main financialcentres, meaning the recommendations are likely to be given ahearing by world leaders. (Reporting by Huw Jones; Editing by Andy Bruce and RaissaKasolowsky)
