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Klaas Knot: The risks of shadow banking are rearing their head again

A year into his term, FSB chair Klaas Knot reflects on the challenges that lie ahead

By

Klaas Knot

The challenging combination of rapidly evolving financial conditions and swift structural change in the financial system may be with us for some time
The challenging combination of rapidly evolving financial conditions and swift structural change in the financial system may be with us for some time Photo: Getty Images

Klaas Knot is chair of global regulatory agency the Financial Stability Board

When I took over as Financial Stability Board chair just over a year ago, we were tentatively eyeing a return to normalcy. Discussions focused on how we could support a strong, equitable and inclusive recovery from the Covid pandemic. But new challenges arose in 2022.

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