Financial Stability Board Should Rethink Its Agenda on Non-Bank Financial Intermediation
Reynolds Holding
MARCH 16, 2023
OEFs engage in liquidity transformation, but the FSB exaggerates the significance of this because OEFs are very liquid in comparison with other financial intermediaries such as banks, hedge funds, and private equity funds. 2] It is also clear that major structural changes have negatively affected liquidity in key markets over recent years.
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