Yellen highlights systemic risks from rise in non-bank lending
Treasury secretary says institutions’ share of credit now exceeds that of banks
US Treasury secretary Janet Yellen this week highlighted the need for regulators to focus on the systemic risks posed by non-banks’ increased share of lending.
Yellen told the Federal Reserve Bank of New York’s US Treasury Market Conference on September 25 that the amount of loans provided by non-banks “now exceeds on-balance-sheet bank credit”.
She highlighted the work that her department’s Financial Stability Oversight Council had done to help reduce the stability risks stemming from non-banks
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