Constâncio points to systemic risk from investment funds
ECB vice-president Vítor Constâncio says increased size and risk-taking by under-regulated investment funds call for new powers for regulators
The expanding investment fund sector may pose systemic risks and needs tighter regulation, the vice-president of the European Central Bank (ECB) said in a speech today (April 25).
The strong growth of non-bank financing "creates new risks in a part of the financial system that is much less regulated" than banks, Vítor Constâncio said. This applies in particular to the investment fund sector, he said, which has "grown rapidly over the past few years".
The sector grew from €5.4 trillion ($6.1
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