Legislation needed to break non-bank deadlock – BIS’s Borio

Panellists at BoE event highlight array of shortcomings with regulatory framework

Claudio Borio
Claudio Borio

A full macro-prudential framework for the non-bank sector will “remain beyond reach” unless securities regulators are given a financial stability mandate in law, Claudio Borio said today (February 26).

The head of the Bank for International Settlements’ monetary and economic department said efforts by the Financial Stability Board to develop non-bank regulation had failed to fully address the vulnerability of the non-bank sector.

Regulation implemented in the wake of the global financial crisis is

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