Basel Committee: Microfinance firms may far exceed supervisory capacity
Reliance on many small firms can create a headache for supervisors
The reliance of many countries, particularly developing and emerging markets, on a large number of small financial firms is testing the limits of supervisory capacity, a survey by the Basel Committee on Banking Supervision (BCBS) has found.
Conducted in 2013, the survey of 59 countries, spread evenly across income distribution, revealed financial cooperatives to be by far the most numerous institution. Their main concentration was in lower middle income countries.
Micro-credit firms were also
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