The Financial Stability Board (FSB) will adjust its focus to deal more flexibly with "new and constantly evolving risks", according to Mark Carney, the chairman of the FSB.
Carney said that as the "fault lines" that caused the global financial crisis are addressed and appropriate financial regulation is "embedded", the FSB will shift towards a new approach.
Writing to G-20 finance ministers and central bankers, he said shadow banking, or "activity taking place outside traditional banking institu
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