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FSB warns of systemic risk from private credit and stablecoins
FSB flags private-credit, stablecoins and AI stock bubbles as systemic risks for its 2026 work plan.
The Financial Stability Board has identified private-credit markets and stablecoins as key sources of systemic risk in its 2026 regulatory agenda. Rapid growth in non-bank lending, lack of transparency, and cross-border regulatory gaps are raising red flags.
The FSB is also monitoring valuation bubbles in AI-linked stocks and overall non-bank leverage. Regulators are calling for better data sharing and robust macro-prudential tools to manage vulnerabilities ahead of financial instability.