The drumbeat of regulatory interest in non-bank financial intermediation continues, with recent publications from the Central Bank of Ireland (here; we had not responded to the related discussion paper) and the Financial Stability Board (which wrote to G20 finance ministers and central bank governors ahead of their meeting last week - here).
Our sense is that there is quite broad alignment in approach and focus in this area across policymakers at national, EU and global level, suggesting that regulatory action is likely. Our current priority is responding to the European Commission’s consultation on the macroprudential policy framework for NBFIs that runs until November (as previously reported) – please contact Peter if your firm can offer input.
