FSB holds fire on non-bank G-Sifi designation amid backlash

The FSB is headquartered at the BIS

The Financial Stability Board (FSB) has put the brakes on its plans to designate asset managers as part of a group of globally systemic "non-bank non-insurer" (NBNI) institutions, after a consultation drew widespread criticism from the industry.

The organisation is trying to establish an "assessment methodology" for identifying NBNI global systemically important financial institutions (G-Sifis) as part of its work on tackling risks related to shadow banking.

The FSB said on July 30 it has

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