FSB holds fire on non-bank G-Sifi designation amid backlash
Criticism of plans to include asset managers in systemic definition
The Financial Stability Board (FSB) has put the brakes on its plans to designate asset managers as part of a group of globally systemic "non-bank non-insurer" (NBNI) institutions, after a consultation drew widespread criticism from the industry.
The organisation is trying to establish an "assessment methodology" for identifying NBNI global systemically important financial institutions (G-Sifis) as part of its work on tackling risks related to shadow banking.
The FSB said on July 30 it has
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