Regulators need broader oversight of financial firms to prevent a crisis in the vast non-bank sector turning into a credit crunch and wreaking havoc on the economy, Britain’s central bank said on Monday. The Bank of England was forced to …
Tackling hidden leverage across the multi-trillion dollar “shadow banking” sector is next year’s priority, global financial regulators said on Wednesday, but the challenge of accessing data could hamper the process. The G20’s Financial Stability Board (FSB) and IOSCO, a global …
China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s rampantly growing shadow banking sector. The guidelines unified rules covering asset management …
Shadow banking activity in China has expanded further and now accounts for nearly a third of the total banking sector assets, raising financial risks in the world’s second-largest economy, rating agency Moody’s Investor Service said on Wednesday. Shadow banking assets …
A planned insurance fund for China’s trust industry will have an initial size of around 40 billion yuan ($6.47 billion), the state-owned China Securities Journal reported on Saturday, citing unidentified officials from the banking regulator. The fund, the first of …
