Regulators worldwide need to find better ways of stress testing non-bank financial firms, Bank of Canada first deputy governor Carolyn Wilkins said on March 14.

Though we are living in an “age of leverage”, we are only part way towards understanding the risks, Wilkins said in remarks at the University of British Columbia. The rapid growth of investment funds in recent years – with global assets under management hitting $45 trillion in 2017 – means portfolio flows are now the “dominant source”