Shadow banking refers to the process of credit intermediation that is conducted outside the regular banking system. It represents a diverse ecosystem spanning wholesale markets–based credit intermediation and alternative lending channels. In this report, we examine the scope of the shadow banking system, evaluate the policy frameworks applicable to different shadow banking entities and activities, and survey the perspectives of investment professionals on key shadow banking issues. Policy considerations to strengthen market integrity are proposed.
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Publisher Information
CFA Institute 115 pages doi.org/10.2469/ccb.v2015.n2.1 ISSN/ISBN: 978-1-942713-02-9