Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-399-996"
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"en.20121120.28.2-399-996"2
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I voted in favour of this report. Despite or maybe due to new regulatory frameworks adopted since the start of the financial crisis to make the financial system safer and more sustainable, a huge part of the credit intermediation still remains insufficiently monitored and regulated. Shadow banking is a system of intermediaries, instruments, entities or financial contracts generating a combination of bank-like functions but outside the regulatory perimeter or under a regulatory regime which is either light or addresses issues other than systemic risks, and without guaranteed access to central bank liquidity facilities or public sector credit guarantees. I agree that the interconnectedness between ‘traditional banks’ and off balance vehicles and activities should be made more transparent and tackled from a regulatory viewpoint. Firstly, in order to get a complete overview on the shadow bank landscape, more and reliable data and analysis capacities are urgently required. One of the most important steps towards greater transparency could be the initiative to create a central database on repo transactions. Secondly, this data mapping exercise should allow the identification of the aspects of the shadow banking system which have beneficial effects for the real economy and those posing systemic risk or concerns."@en1
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