Patchy progress on implementing reforms to make money market funds and other types of “non banks” safer has left the global financial system vulnerable to more shocks, the G20’s risk watchdog said on Monday.
The Financial Stability Board said that many of the underlying vulnerabilities that contributed to incidents, such as central banks having to inject liquidity to stabilise money market funds during a “dash for cash” at the outset of COVID-19 lockdowns, are still largely in place.
Source: REUTER
Leave A Comment