To print this article, all you need is to be registered or login on Mondaq.com.
Federal Reserve Board Vice Chair for Supervision Randal K.
Quarles, who also serves as Chair of the Financial Stability Board
("FSB"), identified nonbank financial
intermediation ("NBFI"), money market funds and
cross-border payments as the FSB's priority areas for 2021.
Mr. Quarles stated that NBFI prominence in the financial
ecosystem has created greater interconnectedness and, therefore, a
need to understand the vulnerabilities arising from risks outside
of the banking system. He noted that the NBFI sector accounts for
almost half of all global financial assets.
Mr. Quarles referenced the FSB's Holistic Review of the March Market