Standards Setter Warns Over Digital Finance, Rising Debt
By Lucia Osborne-Crowley (December 15, 2021, 3:31 PM GMT) -- A global standards-setting body plans to monitor rising levels of indebtedness as well as the increasing reliance in the finance sector on technology companies in the aftermath of the COVID-19 pandemic, warning that these trends could put financial stability at risk.
The Financial Stability Board said on Tuesday that its European arm has identified three potential risks to market stability in the wake of the pandemic. It pointed to the rise in levels of debt in households and governments, the growing trend for banks to outsource online finance work to technology companies and the increased dependence on so-called non-bank entities, such as asset...
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