The chair of the Financial Stability Board — a group of top global regulators, central bankers and finance ministers — has warned that increased pressure on private markets firms could be a key risk for 2024.

Klaas Knot, who doubles as the Dutch central bank governor, told Financial News that two of the "key vulnerabilities" to financial stability in 2024 will be high levels of leverage and liquidity mismatches among so-called non-bank financial intermediaries, and stretched asset valuations in some key financial markets.