Policy-makers need better models and data on bank and non-bank links, Fischer says
Data on a range of activities remains ‘inadequate’, vice-chair says
Policy-makers need "better models and data" to understand the interconnections between the banking system and nonbank financial institutions, Fed vice-chair Stanley Fischer said in a speech on December 3.
When it came to financial stability, he said, "what you do not know really can hurt you". Efforts were under way to improve data collection, he said, but much more needed to be done.
Besides data, regulators also needed a theory of the interaction of shadow banking with the broader financial
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