FSB finds banks grew faster than non-banks in 2020
Pandemic response contributed to stronger growth in bank and central bank assets, report says
The non-bank financial sector broke with a decade-long trend in 2020, growing by less than the banking sector, and becoming somewhat less interwoven with banks.
Globally, total assets held in the non-bank financial intermediation (NBFI) sector grew 7.9%, according to the Financial Stability Board’s annual monitoring report. Banks’ assets grew 11.1% and central banks’ assets 32.3%.
As a result, the NBFI sector shrank slightly as a share of total global assets, from 49.7% to 48.3%. Banks’ share
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