Canada’s Macklem on regulating the shadow banking sector

Bank of Canada

Tiff Macklem, the senior deputy governor of the Bank of Canada, highlights challenges of regulating the shadow banking sector in the face of higher capital and liquidity requirements.

In a speech delivered to the G-20 Workshop on 7 July 2011 Paris, France, Macklem said: "The existing prudential regulatory framework was designed around banks whose credit-intermediation activities are closely regulated and supervised, as well as backstopped with deposit insurance and central bank liquidity. By

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