Top financial watchdog says shadow bank vulnerabilities yet to be fixed

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Financial Times 10h ago

Top financial watchdog says shadow bank vulnerabilities yet to be fixed - Financial Times

Quick Summary:

The FSB has no legally binding powers of its own but brings together the world’s top central bankers, finance ministers and regulators to agree on a common global framework for financial regulation.

He said regulators had still not done enough to tackle the dangers created by the vast shift of financing activity outside of the closely supervised banking system into an area known as non-bank financial intermediation (NBFI).

This sprawling “shadow bank” sector includes money market funds, asset managers, pension funds, insurers, hedge funds, private equity, credit funds and real estate investment trusts.