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FSB official outlines shadow banking concerns
TORONTO |
TORONTO (Reuters) - The Financial Stability Board (FSB) will develop policy recommendations for the world's shadow banking sector by the end of 2012, according to a senior Bank of Canada official who also chairs a key FSB committee.
Tiff Macklem, senior deputy governor at the Bank of Canada, said the FSB's recommendations will cover five areas:
* the interactions of regulated banks with shadow banking entities and activities
* money market mutual funds
* other shadow-banking entities
* securitization
* securities lending and repos.
The FSB is a global body of central bankers, regulators and finance officials tasked with implementing the G20's financial reform agenda.
Macklem's speech contained no reference to Canadian monetary policy.
(Reporting By Jennifer Kwan; Writing by Louise Egan; Editing by Jeffrey Hodgson)
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