ECB's Schnabel: Rise in non-bank finance creates new risks for conduct of policy

"The rise in non-bank finance is likely to have broadened monetary policy transmission, while it has also created new risks for the conduct of monetary policy," European Central Bank Executive Board Member Isabel Schnabel said on Tuesday, per Reuters.

Market reaction

This comment doesn't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1743, where it was virtually unchanged on a daily basis. Meanwhile, the Euro Stoxx 50 Index was last seen losing 0.1% at 4,171.