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Bank of England governor Mark Carney speaks during the bank's quarterly inflation report news conference at the Bank of England in London May 14, 2014.
Bank of England governor Mark Carney speaks during the bank's quarterly inflation report news conference at the Bank of England in London May 14, 2014.
(Lefteris Pitarakis/Reuters)

Carney targets shadow banking. Should Canada?

Calls to rein in shadow banking around the world are growing louder, but Canada is, once again, relatively immune from the global crackdown.

In a new Financial Times op-ed, Bank of England governor Mark Carney, who also heads the Financial Stability Board, argues that, while shadow banking can be “a sustainable source of market-based finance,” it needs reforming.