Constâncio says ECB needs new tools to tackle shadow banking risks

Vítor Constâncio

The European Central Bank (ECB) needs to be equipped with new tools to cope with risks originating in the shadow banking sector, Vítor Constâncio, the ECB's vice-president, said today.

The ECB lacks certain instruments that some other central banks – notably the Federal Reserve – have in their toolkits, Constâncio said during a speech at Chatham House.

Constâncio stressed the term ‘shadow bank' should not be seen as pejorative, but instead indicated these institutions conducted operations that

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