Shadow Banking Has Seeds Of Next Crisis, Comptroller Says
Law360, Washington (May 14, 2014, 7:34 PM EDT) -- The migration of financial assets outside of regulated banks and into the so-called shadow banking sector threatens to cause another financial disaster unless federal and state regulators act more aggressively, Comptroller of Currency Thomas Curry said Wednesday.
In remarks prepared for a meeting with state financial regulators, Curry said that asset migration out of regulated entities is an inevitable consequence of the increased capital requirements and higher regulatory standards, and needs to be kept in check to prevent another crisis.
“The shift of financial assets into the shadow banking system could carry with it the seeds for the next financial crisis...
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