Nonbanks' systemic threat to be tracked industry-wide under final US guidance

5 December 2019 9:19pm
Asset managers, insurers and hedge funds will have their potential economic threat monitored on a sector-wide basis rather than individually under final guidance issued by the US Treasury-led Financial Stability Oversight Council.

This “activities-based” approach to possibly tougher supervision would tag a particular firm “only in rare instances,” the guidance said, drawing criticism by House Financial Services Committee Chair Maxine Waters and praise from industry groups.