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Stock impact report

World ‘blind' to risks in booming $250tn shadow bank market [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
On Tuesday, the Financial Stability Board (FSB), a network of global watchdogs, said “severe limitations” on the availability of data from the $250tn (£190tn) industry made it more difficult to spot the seeds of another global financial crash. The FSB, chaired by Andrew Bailey , the Governor of the Bank of England, said there was not enough data for private capital funds for regulators to assess the risks – even when banks are involved in the trades. “Significant cross-border data blind spots persist, as exposures of domestic banks to foreign hedge funds, private credit funds, or offshore affiliates are frequently excluded from local reporting frameworks or available only in aggregated form,” the watchdog said. It raises the prospect that significant dangers could be growing unobserved in the core of the financial system. The FSB added: “Bank financing of offshore hedge funds or private credit funds, for instance, can be systemically significant, yet remain outside standard s Show less Read more
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