ContextKeynote at the Central Bank of Ireland conference on macroprudential policy for investment funds; ESMA protects investors and keeps EU markets orderly, and watches fund liquidity and leverage.
Why it mattersRoss contributes to the EU review of risks in funds and other non-bank lenders.
Problems raised
Investment funds carry liquidity and leverage risks.
Risks extend across the wider non-bank sector.
The EU needs effective capital markets urgently.
Solutions proposed
Contribute to the Commission's review of non-bank intermediation.
Strengthen macroprudential tools for funds.
Balance stability with capital market development.
