BIS paper’s guide to monitoring ‘highly leveraged’ non-banks
Using new data sources can help to shed light on an opaque sector, authors say
The experience of the Hong Kong Monetary Authority could help guide other supervisors in dealing with “highly leveraged” non-banks, a paper published by the Bank for International Settlements says.
Authors Kevin Cheng, Zijun Liu, Silvia Pezzini and Liang Yu note hedge funds and family offices often use a lot of leverage and may not be subject to prudential or disclosure rules. “They are diverse in nature, engaging in complex or opaque derivatives transactions, and their trading strategies can
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