Constâncio suggests new shadow bank powers for Esma
ECB vice-president again underlines need for supervisors to take on new tools and responsibilities for tackling shadow banks, but suggests at least some may be wielded by other bodies
European regulators need new powers to tackle shadow banking, but they need not necessarily be wielded by the European Central Bank (ECB), vice-president Vítor Constâncio told an audience in London on May 8.
Assets in the shadow banking sector have doubled in the past decade, while its rise has "gathered pace" in recent years, raising the urgency with which a regulatory response is needed, Constâncio said at an event organised by the Official Monetary and Financial Institutions Forum.
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