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The news: In a recent blog post , the International Monetary Fund (IMF) stressed the risks that nonbank financial institutions (NBFIs) pose to the financial system and warned that their lack of regulatory oversight could cause the next global financial crisis. Global acceleration: Since the 2008 financial crisis, the growth of NBFIs—institutions like pension funds, insurers, and hedge funds—has exploded. As of 2021, NBFIs held about $239 trillion in assets, according to the Financial Stability Board, or nearly half of global financial assets.
Persons: NBFIs Organizations: International Monetary Fund
The collapse of FTX could weigh on cryptocurrencies for years, experts told Insider. And the dot-com crash shows that there could be further pain ahead. "In a very crude way, this isn't that different to the dot-com crash," Morningstar Investment Management CIO Dan Kemp told Insider. Just 48% of internet companies even survived the dot-com crash, and it took Amazon a decade to regain its peak share price of $113. Whether cryptocurrencies can bounce back as some tech stocks did 20 years ago remains to be seen.
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