Quarles: policy-makers have ‘work to do’ on non-bank fragilities

Randal Quarles
Randal Quarles
Photo: US Federal Reserve

The Financial Stability Board is set to highlight areas of the non-bank financial sector where policy action may be needed, FSB chair Randal Quarles said on October 20.

The global body has been conducting a “holistic review” of the market stresses during March as a result of Covid-19, and has identified areas where non-banks likely amplified the shock.

Quarles told a securities market conference that the “Covid event” had revealed a banking sector that stood up “quite well” to the shock with

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