BISness
Regulating non-bank financial intermediaries
Jun 18, 2024
Financial Stability Institute Senior Advisors Johannes Ehrentraud and Raihan Zamil discuss regulating non-bank financial intermediaries, focusing on defining NBFIs as retail lenders, challenges in regulatory frameworks, and the importance of prudential oversight for financial stability amidst evolving business practices.
19:51
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Quick takeaways
- Establishing a regulatory framework for non-bank financial intermediaries is crucial for financial stability.
- Defining and regulating NBFI retail lenders poses challenges due to their diverse activities and lack of global standards.
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Importance of Regulating Non-Bank Financial Intermediaries
Non-bank financial intermediaries, including NBFI retail lenders, play a crucial role in the financial system by providing credit to consumers and small businesses. Unlike banks, these entities do not have globally harmonized rules like the Basel framework, leading to regulatory challenges. The lack of standardized regulations poses concerns about the continuity of credit provision by NBFI retail lenders, especially as they expand internationally and adopt new technologies and credit products. Establishing a regulatory framework for all such entities becomes vital for maintaining financial stability.
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