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Global regulators are tightening rules on banks' outsourcing services and facing challenges in mapping risks from non-bank financial sectors. Singapore's regulator collaborates with banks to enhance standards against money laundering. The ECB and RBI officials express concerns over rising risks from shadow banking, fraudulent transactions, and poor internal controls.
The non-bank financial intermediation market, which includes private equity and hedge funds, has doubled since 2008, says Supervisory Board member Elizabeth McCaul. To manage risks, we need a clear view of banks’ exposure to NBFI balance sheet risk https://t.co/aihOWXqFaz https://t.co/haLUjmfMUE
Exponential growth in usage of digital channels to avail financial services has increased regulated entities’ reliance on third party service providers and has exposed them to operational risks including cyber and outsourcing risks, says @RBI Deputy Governor M Rajeshwar Rao in… https://t.co/oPL0WTYrxV
Breaking: #ECB McCaul: Alarms Rising Risks From Shadow Banking - FT https://t.co/uMhjYWKP15