FSB says commodities markets are opaque and vulnerable
Highly concentrated market is reliant on leverage and short-term funding, report finds
The “commodities ecosystem” is opaque and vulnerable to many of the same issues that affect wider non-bank financial intermediation (NBFI), the Financial Stability Board (FSB) says in a report published today (February 20).
Commodities markets involve a large number of heterogeneous players, but most of the activity is concentrated in a handful of non-financial firms that trade commodities. These key firms are connected to the “core financial system” via their relationships with banks, which
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