FSB-Iosco tweaks systemic shadow bank definition after criticism

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The FSB is housed in the BIS tower in Basel

International standard setters have adjusted proposals for assessing the systemic importance of shadow banks, after initial plans came under fire last year.

The Financial Stability Board (FSB) and International Organization of Securities Commissions (Iosco) yesterday jointly released revised proposals for identifying globally systemic "non-bank non-insurance" (NBNI) firms, with the bulk of changes focused on rules for asset managers.

The overall structure of the methodology remains unchanged

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