I also want to outline further work that the FSB plans to conduct in light of this experience, including a more in-depth assessment of how various segments of the NBFI sector performed. Going forward, I expect the NBFI sector to be an ongoing focus of the FSB.
The Global Financial System and Economy Prior to the Shock When COVID-19 emerged early this year, the global financial system was in several ways fundamentally different than it was at the outset of the financial crisis of more than a decade ago.