What the Financial Stability Board is saying about non-bank financial intermediation (Premium)

On November 17, 2020, the Financial Stability Board (FSB) published its Holistic Review of the March Market Turmoil. This is a wide-ranging report that has a lot to say about the role of money market and hedge funds, two of the more prominent actors in non-bank financial intermediation (NBFI). We analyze the report, the near-term workplan and two ways that final recommendations could go.
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