NY Fed study says shadow banks are here to stay
Shadow banks will play a "significant part" in the future of the US's financial system, according to a study published in the New York Fed's latest Economic Policy Review.
The study – Shadow Banking, by Zoltan Pozsar, Tobias Adrian, Adam Ashcraft and Hayley Boesky – points out that while shadow banks' liabilities peaked at $22 trillion in June 2007, they have fallen substantially since then.
Nonetheless, the authors say the higher capital and liquidity standards imposed on banks and insurance
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