FSB Publishes Global Shadow Banking Monitoring 2013
15 November 2013 Switzerland
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The Financial Stability Board has published its third annual Global Shadow Banking Monitoring Report.
The report takes into account data from 25 jurisdictions and the EEC as a whole. The report covers 80 percent of global GDP and 90 percent of global financial system assets.
The report finds that the assets of non-bank financial intermediaries grew by $5 trillion in 2012 to reach $71 trillion.
For the first time the report also incorporates estimates from a hedge fund survey by the International Organization of Securities Commissions.
Non-bank financial intermediaries represent on average 24 percent of total financial assets, and are equivalent to about half of banking system assets and 117 percent of GDP. These patterns have been relatively stable since the crisis.
In general, non-bank financial intermediaries form a larger proportion of domestic financial systems in advanced economies than in emerging markets. However, non-bank financial intermediaries in emerging market jurisdictions have experienced strong growth.
In August the FSB published policy recommendations to strengthen oversight and regulation of shadow banking.
Mark Carney, chairman of the FSB, said: "Monitoring the shadow banking system is an essential part of our work to strengthen the oversight and regulation of this sector. Our aim is for shadow banking to deliver transparent and resilient market-based financing, thus diversifying the sources of financing of our economies in a sustainable way.”
The report takes into account data from 25 jurisdictions and the EEC as a whole. The report covers 80 percent of global GDP and 90 percent of global financial system assets.
The report finds that the assets of non-bank financial intermediaries grew by $5 trillion in 2012 to reach $71 trillion.
For the first time the report also incorporates estimates from a hedge fund survey by the International Organization of Securities Commissions.
Non-bank financial intermediaries represent on average 24 percent of total financial assets, and are equivalent to about half of banking system assets and 117 percent of GDP. These patterns have been relatively stable since the crisis.
In general, non-bank financial intermediaries form a larger proportion of domestic financial systems in advanced economies than in emerging markets. However, non-bank financial intermediaries in emerging market jurisdictions have experienced strong growth.
In August the FSB published policy recommendations to strengthen oversight and regulation of shadow banking.
Mark Carney, chairman of the FSB, said: "Monitoring the shadow banking system is an essential part of our work to strengthen the oversight and regulation of this sector. Our aim is for shadow banking to deliver transparent and resilient market-based financing, thus diversifying the sources of financing of our economies in a sustainable way.”
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