The Information .com / The President of the Comisión Nacional del Mercado de Valores (CNMV), Elvira Rodriguez, considers that the ‘shadow banking’ is a potential threat for long-term financial stability, although that plays important roles in the system. For this reason, is considering a change of supervision in this area.
Speaking at the XXII Meeting of the financial sector, organized by Society of Taxation, ABC and Deloitte, Rodriguez has defined two challenges for banks in the future. The emergence of ‘shadow banking’ and the role that equity markets have as alternative funding sources
The president of the supervisor explained that the ‘shadow banking’ includes entities that obtain funds with similar deposits and securitization activities like characteristics, securities lending or commitment to purchase.
Half of the banking system As indicated, the European Commission estimates that the system’s assets banking ‘shadow’ global equivalent 53,000 million euros, half the regulated banking system.
Fearing that heralds the arrival of this new system, has passed a law laying regulate venture capital and attributed to the CNMV the function of controlling systemic risk that such entities are likely to generate.
The text allows the institution requires additional information to the established normative, either periodically or extraordinary. Pursuant to this rule, Rodriguez has revealed that the supervisor is expected to approve a work program for the measurement of systemic risk alternative investment institutions.
It also intends to track the ‘shadow banking ‘to assess the effects of the translation of traditional banking to other sectors such investment vehicles such as money market funds, ETF, venture capital and debt funds activities.
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