Most central banks lack primary oversight of NBFIs
Many institutions capable of regulating non-banks, but just a few solely exercise such powers
Non-bank financial institutions (NBFIs) regulation is out of the primary scope for most central banks participating in the Financial Stability Benchmarks 2022, despite many having regulatory capabilities, often in tandem with other agencies.
Four-fifths (80.6%) of central banks said they do not have sole responsibility to regulate insurance companies or the non-bank financial sector. Seven-tenths (71%) also said they lack sole responsibility for regulating the micro-finance sector.
Nonetheless
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