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Today's challenges in financial stability - the new and the not so new

· Andrew Bailey, Governor of the Bank of England (United Kingdom)

Summary written by Dark Majestic in its own words · topics: financial stability, development and emerging economies

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· Andrew Bailey Wiki · Bank of England WikiToday's challenges in financial stability - the new and the not so new

ContextSpeech at the Bloomberg Regulatory Forum in New York; the Bank of England protects financial stability and faces both old and new risks.

Why it mattersBailey proposes emergency facilities for exposed non-banks and system-wide stress exercises.

Problems raised
  1. Non-banks can spread stress.
  2. Weak points in markets and infrastructure are hidden.
  3. New and old risks combine.
Solutions proposed
  1. Run stress exercises across banks and non-banks.
  2. Offer emergency facilities to exposed non-banks.
  3. Strengthen resilience of markets.
Read full speech on bis.org ↗

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