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Alternative Market Briefing

Report says hedge funds remain significantly underestimated in $75tln global shadow banking

Thursday, October 30, 2014

Komfie Manalo, Opalesque Asia:

The global shadow banking grew by $5tln in 2013 to reach $75tln, according to the Financial Stability Board’s (FSB) fourth annual Global Shadow Banking Monitoring Report. The report presents data from 25 jurisdictions and the euro area as a whole, covering about 80% of global GDP and 90% of global financial system assets.

The broadest measure, referred to as the Monitoring Universe of Non-Bank Financial Intermediation (MUNFI), is based on the financial assets of Other Financial Intermediaries (OFIs) and captures all non-bank financial intermediation where shadow banking-related risks to the financial system might potentially arise.

FSB chairman Mark Carney said, "The system-wide monitoring of shadow banking is a core element of the FSB's work to strengthen the oversight and regulation of shadow banking in order to transform it into a transparent, resilient, sustainable source of market-based financing for real economies. To this end, the FSB launched in 2011 the shadow banking annual monitoring exercise, which aims to identify and measure potential sources of systemic risks beyond the current bounds of prudential regulation. The progressive refinements of this exercise have sharpened the risk monitoring capabilities not only of the FSB but also of national and regional authorities."

Global Non-Bank Financial Intermediated Assets reach......................

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