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FSB Statement: Financial Stability Board publishes a background note on shadow banking

( April 12, 2011, 08:57 GMT | Official Statement) -- MLex Summary: The global coordinating body of financial overseers, aiming to bring 'shadow banking' under surveillance, plan at first to 'cast the net wide' at all lending and credit facilitation not performed by regulated banks and intermediaries. The authorities will then focus on areas giving rise to risks for the broader financial system and for regulatory arbitrage. The panel plans in July to consider first recommendations, which could lead to direct oversight of non-bank actors or supervision of regulated entities doing business with them.The Financial Stability Board (FSB) published today a note entitled Shadow Banking: Scoping the Issues http://www.financialstabilityboard.org/publications/r_110412a.pdf [and attached at bottom]. This note provides information on the work of the FSB to develop recommendations to strengthen the oversight and regulation of the shadow banking system....

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