· Andrew Bailey Wiki · Financial Stability Board WikiFSB Chair’s speech at the launch event for the FSB’s final report on leverage in nonbank financial intermediation (NBFI)
Read full speech on fsb.org ↗ContextFSB Chair's speech at the launch event for the FSB's final report on leverage in NBFI, 9 July 2025.
Why it mattersThe FSB publishes its final recommendations on leverage in non-bank finance, a key source of recent market stress.
Problems raised
- Leverage in non-bank finance can amplify market stress.
- Authorities lack a full view of where that leverage sits.
- Risks spill across borders and between sectors.
Solutions proposed
- Give authorities a toolkit to monitor non-bank leverage.
- Design and calibrate measures to contain leverage where it threatens stability.
- Coordinate implementation internationally.