The Financial Stability Board is set to focus on tougher rules for too-big-to-fail organizations operating in the “shadow-banking sector” to prevent another global economic crisis, its chairman Mario Draghi said. Systemically important financial institutions, or SIFIs, “don’t reside only within the banking sector,” Draghi said in a Nov. 5 interview in Ancona, Italy. Over the next two years, the FSB will focus on “the progressive enlargement of what we call the regulatory perimeter to include the most important segments” of the “shadow financial sector.”
FSB to focus on rules for shadow banking, Draghi says
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