Riskiest non-banks shrink for first time since 2009
FSB says narrow measure of riskiest firms fell in 2022 as asset price falls hit investment funds
The riskiest segment of the non-bank sector shrank in 2022 for the first time since the global financial crisis, data from the Financial Stability Board (FSB) shows.
The FSB’s annual snapshot of non-bank financial intermediation (NBFI) found the risky “narrow measure” fell 2.9% in 2022 relative to a year earlier. It was the first decline since 2009, when the crisis triggered an 8.8% contraction in NBFI.
The narrow measure captures non-banks that are vulnerable to runs. Investment vehicles
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