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    <p>In an effort to minimize risks of contagion, the European Banking Authority (EBA) and other EU regulators have announced an investigation into banks’ links to non-bank entities, such as hedge funds, crypto, and private capital firms.</p>
    <p>The EBA will probe how shadow banks, or non-bank financial institutions (NBFIs), can possibly affect lenders, the Financial Times reported on Wednesday. These entities hold almost half of the world’s financial assets, or about $218 trillion.</p>
    <p>The EBA will work alongside the European Systemic Risk Board (ESRB) and the Financial Stability Board (FSB) to determine how disruptions by shadow banks could have knock-on effects on wider markets. The FSB oversees global financial stability.</p>
    <p>According to the <a rel="noopener noreferrer nofollow" title="EBA" href="https://thebittimes.com/tag/eba.html">EBA</a>’s chair José Manuel Campa, “We should be doing more and we are going to be doing more. We need to have an understanding of the whole underlying chain in NBFIs.</p>
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       Former EU senator working for Chinese spies said Binance is ‘the future’
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Former EU senator working for Chinese spies said Binance is ‘the future’” — Protos" src="https://protos.com/former-eu-senator-working-for-chinese-spies-said-binance-is-the-future/embed/#?secret=q070ksOYQA#?secret=Rgri1Sr5hm" data-secret="Rgri1Sr5hm" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
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    <p><em>Read more: ECB says <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="Regulation" href="https://thebittimes.com/tag/regulation.html">Regulation</a> needed MiCA yesterday — it’ll take years to enact</em></p>
    <p>Campa added that implementing minimum requirements of reporting could provide regulators with more data on banks’ exposure to non-banks.</p>
    <p>“The first step in this situation is always getting information; it’s an obscure sector where the quality of data is not homogeneous,” the EBA chair explained (via FT).</p>
    <p>The decision by watchdogs comes at the start of a promising year for <a rel="noopener noreferrer nofollow" title="EU" href="https://thebittimes.com/tag/eu.html">EU</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="Regulation" href="https://thebittimes.com/tag/regulation.html">Regulation</a>, with stricter rules expected to come into effect following MiCA.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/eu-finance-watchdog-eba-to-probe-bank-ties-to-crypto-tbt75457.html">https://thebittimes.com/eu-finance-watchdog-eba-to-probe-bank-ties-to-crypto-tbt75457.html</a></p>

EU finance watchdog EBA to probe bank ties to crypto

TheBitTimes

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