vendredi 27 mars 2015
Fed's Fischer: Nonbank financial sector less vulnerable than before crisis
Posted on 04:07 by nice news
U.S. Federal Reserve Vice Chair Stanley Fischer said on Friday that the nonbank financial sector today is less vulnerable to the type of shocks that played a key role in spreading the U.S. financial crisis.
Fischer, who chairs a Fed subcommittee on financial stability, said there is less leverage, less use of securitization, and more moderate reliance on short-term funding among the insurance companies, mutual funds, money market funds and hedge funds that make up the U.S.'s sprawling nonbank financial sector.
"At this stage of the recovery, there are signs of reduced nonbank financial sector vulnerabilities," Fischer said in remarks prepared for delivery at a conference in Frankfurt, Germany. "The available data paint a picture of a nonbank sector that has generally reduced its vulnerability to the types of shocks that we saw during the crisis."
Fischer, who chairs a Fed subcommittee on financial stability, said there is less leverage, less use of securitization, and more moderate reliance on short-term funding among the insurance companies, mutual funds, money market funds and hedge funds that make up the U.S.'s sprawling nonbank financial sector.
"At this stage of the recovery, there are signs of reduced nonbank financial sector vulnerabilities," Fischer said in remarks prepared for delivery at a conference in Frankfurt, Germany. "The available data paint a picture of a nonbank sector that has generally reduced its vulnerability to the types of shocks that we saw during the crisis."
Fed's Fischer: Nonbank financial sector less vulnerable than before crisis
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