Global Investor Magazine reports:
Global regulators are not in a hurry to implement new measures for the shadow banking industry, according to David Rule, chair of the securities lending and repo workstream of the Financial Stability Board’s (FSB) initiative on shadow banking. Speaking at the general meeting of the European Repo Council (ERC), Rule said he was “hopeful” that the heads of the FSB would agree to a market consultation on proposals for shadow banking by the end of the year. The workstream will present its policy recommendations to the FSB bosses over the next couple of months.