BRUSSELS (AP) — The European Union's executive arm is presenting new laws to strengthen oversight of so-called shadow banking, a sector of the financial system that holds trillions of dollars in assets but is not bound by the same rules as banks.
The EU Commission says investment vehicles such as money-market funds provide extra sources of financing for investors but can also pose threats to long-term financial stability.
Commissioner Michel Barnier is set to announce the legislation to regulate the growing sector Wednesday. The laws will require approval from the EU's 28 governments and the European Parliament.
The global shadow banking sector was estimated to encompass assets of about 46 trillion euros (currently $61 trillion) in 2010, or almost a third of the total financial system and half the size of bank assets.
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An Albuquerque Police officer involved shooting over the weekend marks the fifth since late October and city officials are taking notice.
A woman was stolen from her daughter's car, a woman who died more than five years ago.
Albuquerque police shot and killed a man Sunday night after responding to an assault call near UNM.
Deputies were led on a chase around 4 p.m. Monday after a person called 911 to report their vehicle had been stolen and was being driven recklessly around Albuquerque.
New Mexico could have hundreds of millions of dollars more to spend as legislators get ready to put together next year's budget in the upcoming legislative session.
Organizers of the Gildan New Mexico Bowl are hoping to shed the disappointing attendance numbers that weighed down the event last year when the Colorado State Rams and the Washington State Cougars face off Dec. 21.