Financial regulatory reform, like most G20 initiatives, was attempted through advisories to multilateral institutions, such as the Basel Committee on Bank Supervision (BCBS) for commercial banks, and the International Organisation of Securities Commissions (IOSCO) for non-banks and shadow banking. Monitoring of these reforms is being done by the G20 through the restructured Financial Stability Board (FSB). These reforms were supplemented by national initiatives, such as the Dodd Frank Act in the US, the Vickers Commission in the
Unanswered questions about global finance
While the FSB appears sanguine that the exposure of commercial banks to shadow banking has been contained, and the latter is now being monitored, it remains outside the regulatory umbrella
 "banking model")
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Illustration by Ajay Mohanty
Financial regulatory reform, like most G20 initiatives, was attempted through advisories to multilateral institutions, such as the Basel Committee on Bank Supervision (BCBS) for commercial banks, and the International Organisation of Securities Commissions (IOSCO) for non-banks and shadow banking. Monitoring of these reforms is being done by the G20 through the restructured Financial Stability Board (FSB). These reforms were supplemented by national initiatives, such as the Dodd Frank Act in the US, the Vickers Commission in the
First Published: Jun 04 2019 | 01:51 AM IST
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