On November 5th, Financial Stability Board (the "FSB") Chairman Mark Carney wrote the G20 finance ministers and central bank governors concerning the FSB's progress on, among other things, shadow banking. The FSB will be making shadow banking recommendations at the 2013 G20 Summit on issues including the prevention of money market runs, securitizations, and securities lending. Carney Letter. The FSB also provided progress reports on such matters as the central clearing of derivatives, reducing reliance on credit reporting agencies, and the global legal entity identifier. FSB Press Release.
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Financial Stability Board discusses shadow banking
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