European Banking Authority Chairman warns of transparency gaps in shadow banking sector, which accounts for $218trn and is rapidly expanding.
European Banking Authority Chairman Jose Manuel Campa warns of "data black holes" in efforts to map risks from non-bank financial institutions, which account for $218 trillion, nearly half of the world's financial assets. The shadow banking sector's rapid expansion lacks transparency, posing a potential threat to broader financial markets. Regulators plan to gather data on non-banks and their ties to regulated lenders this year and seek a global consensus for international rules governing the cross-border industry.
July 09, 2024
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