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02 July 2015

FSB invites feedback on Peer Review on implementation of the FSB policy framework for shadow banking entities

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The FSB launched a peer review on the implementation of its policy framework for financial stability risks posed by non-bank financial entities other than money market funds.

The objective of the review is to evaluate the progress made by FSB jurisdictions in implementing the overarching principles set out in the framework – in particular, to assess shadow banking entities based on economic functions, to adopt policy tools if necessary to mitigate any identified financial stability risks, and to participate in the FSB information-sharing process.

The summarized terms of reference provide more details on the objectives, scope and process of this review. A questionnaire to collect information from national authorities has been distributed to FSB members. The responses will be analysed and discussed by the FSB later this year. The peer review report will be published in early 2016.

As part of this peer review, the FSB invites feedback from financial institutions, industry and consumer associations as well as other stakeholders on the areas covered by the peer review. This could include comments on:

·         institutional arrangements needed to define and update the regulatory perimeter to capture new forms of shadow banking if necessary to ensure financial stability;

·         types of information that may be necessary to assess shadow banking risks for entities identified as having the potential to pose risks to the financial system;

·         possible ways to enhance public disclosure of shadow bank entities’ risks; and

·         the design of policy tools to mitigate identified financial stability risks.

Feedback should be submitted by 24 July 2015.

Full press release

© FSB - Financial Stability Board

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