RBA’s Edey: don’t push banks into the shadows
New, more demanding, financial regulation needs to ensure that it does not incentivise business to move into unregulated parts of the system, said Malcolm Edey, an assistant governor of the Reserve Bank of Australia.
Edey said more demanding regulation of banks' capital, liquidity and risk-taking would make the core of the system safer, but it would also add to banks' cost of doing business, and to the incentive to shift business into the less regulated parts of the system. He said it would be
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