Banks’ role to be reduced in future financial system, IMF says
The events of the crisis will see banks expected to return to their traditional functions, which will spur growth in the non-banking financial sector, an IMF staff position note released on 16 August says.
The note, authored by Laura Kodres and Aditya Narain, posits also that the perimeters of regulation will have to change, to take account of the expanded role for the non-bank financial sector. Market infrastructure will have to be reinforced to safeguard investors, and clearly elucidate risks
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