FSB definition of shadow banking paints 'incomplete picture', warns IMF paper
Alternative approach suggested in new working paper broadens concept by including banks
The eurozone's shadow banking sector is only marginally smaller than its US counterpart, according to an International Monetary Fund (IMF) working paper that offers a new measure aimed at capturing more "non-traditional activity" in the financial system.
The FSB is widely considered a leading authority on shadow banking. It has published the flagship global shadow banking monitoring report (GSMR), a yearly analysis of trends and risks within the sector, since 2010.
It defines shadow banks
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