ECB needs new tools to tackle shadow banking risks - Constâncio
Vice-president says central bank will need a broader arsenal to cope with risks in the shadow banking sector, suggesting the US and UK both have powers that could be useful
The European Central Bank (ECB) needs to be equipped with new tools to cope with risks originating in the shadow banking sector, Vítor Constâncio, the ECB's vice-president, said on Monday.
The ECB lacks certain instruments that some other central banks – notably the Federal Reserve – have in their toolkits, Constâncio said during a speech at Chatham House.
Constâncio stressed the term ‘shadow bank
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