Pandemic shows investment fund vulnerabilities that may need fixing to help economies recover, G20 watchdog says by reutersHuwJ Follow the latest news on the coronavirus with our live blog:
FILE PHOTO: Financial Stability Board Chairman Randal Quarles speaks at a news conference following the"1+6" Roundtable meeting at the Diaoyutai state guesthouse in Beijing, China November 21, 2019. REUTERS/Florence Lo/File Photo
“It is more important than ever to ensure that we can reap the benefits of this dynamic part of the financial system without risking financial stability,” Quarles said in a letter to G20 finance ministers and central banks, who are holding a virtual meeting this week. Quarles, who is also Federal Reserve vice chair for banking supervision, said FSB members have been involved in intensive, daily information exchanges to coordinate national responses.
“It will become increasingly important to assess the impact of measures taken and to ensure that these policies are effective in the near term, and, eventually, to give a strong basis for deciding on when, and how, to return to more normal operations in the financial sector,” Quarles said.
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