Carney takes aim at shadow banking activity

In his first major speaking engagement since being appointed as chair of the Financial Stability Board, Mark Carney, governor of the Bank of Canada, took the opportunity to set out opinions on global financial stability.

Large, abrupt fluctuations in global liquidity are having a major impact on global financial stability and economic growth, Carney said on Tuesday, in a speech to the Canada-United Kingdom Chamber of Commerce in London.

"Over the medium term, the continuation of such extreme liq