Committee warns of Treasury 'passivity' on financial stability private markets risks

In its Private markets: Unknown unknowns report published on Friday (9 January), the Financial Services Regulation Committee said the Bank of England was correct to investigate the rise of private markets and their links with the banking system through the System Wide Exploratory Scenario. However, whenever data was requested from regulators, academics, trade bodies and firms, the committee was unable to obtain extensive or detailed information. This has led to concerns that there is a gap in policymakers' evidence base regarding private credit, its growth or the level of connection betw...