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Investing.com -- The UK’s Financial Conduct Authority (FCA) plans to gather additional data from non-bank financial institutions including pension funds, insurers, and hedge funds as part of efforts to enhance monitoring of leverage in the financial system.
The initiative aims to better identify potential stability issues and align the UK regulator’s approach with international counterparts, according to Sarah Pritchard, the FCA’s deputy chief executive.
Pritchard revealed in a blog post on Monday that the regulator has already begun evaluating necessary data requirements from non-bank players while simultaneously discontinuing regulatory reporting that is no longer considered relevant.
"Leverage that is poorly managed, concentrated, or hard to spot can raise instability," Pritchard stated. "We need data that provides the practical insights we need to make effective, proportionate decisions."
The FCA is currently assessing which specific metrics would be most valuable to collect from these financial institutions going forward as part of its enhanced monitoring framework.
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