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NY Fed’s biggest financial stability concerns focus on cyberattacks, shadow banking, Williams says

By Neil Roland ( July 2, 2020, 19:18 GMT | Insight) -- The US Federal Reserve Bank of New York’s biggest financial stability worries are potential cyberattacks on the banking system and the migration of assets from banks to the less-regulated shadow-banking sector, President John Williams said. “I would really emphasize cyber risks,” he said. “At a time when everyone’s at home relying on technology to support us, [that] means this is a particularly important issue for us.”The US Federal Reserve Bank of New York’s biggest financial stability worries are possible cyberattacks on the banking system and the migration of assets from banks to the less-regulated shadow-banking sector, President John Williams said....

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