BIS warns of $80T in hidden off-balance sheet debt held by pension funds

The Bank for International Settlements (BIS) has issued a warning that pension funds and other non-bank financial firms now hold more than $80 trillion of hidden, off-balance sheet dollar debt in the form of foreign exchange (FX) swaps. This is a staggering amount of money, and it has raised concerns about the potential risks to the global financial system. According […]