Tougher regulation for shadow banks needed, warns Andrew Bailey

Industry News | 26/06/20

Shadow banks are facing tougher regulation after calling on central bank assistance during the peak of the market panic in March, the Bank of England governor has warned. In a letter to the chancellor, Andrew Bailey said the Bank’s financial policy committee would in August publish an early assessment of the risks posed by the non-bank financial sector, which includes investment funds and money market funds.

Source: The Times