It’s 2023 and half the global banking system is nonbanks which have zero oversight from a systemic risk POV. Hilarious.
US Watchdogs Propose Tighter Oversight of Nonbanks Posing Systemic Risk Yellen unveils FSOC plan for tougher nonbank scrutiny FSOC proposes new framework for risk identification, response The top US financial regulators proposed strengthening tools for addressing threats to financial stability, …