It is the latest sign of how regulators are scrutinising links between lenders and the vast “non-bank” sector made up of private equity, insurers, investment funds and family investment offices.

“Weaknesses pertain to due diligence, both at initial onboarding and on an ongoing basis; credit risk mitigation practices such as margining; risk measurement practices related to potential future exposure and stress testing; and the governance and senior management oversight of CCR,” Basel said in a consultation paper