Non-bank growth pushes global financial assets to new peak

Riskiest forms of shadow banking are growing faster than other areas of finance, FSB data shows

Bank for International Settlements, Basel
Photo: BIS

Global financial assets hit a new peak at the end of 2021, driven by the growth of the non-bank sector and particularly the riskiest forms of ‘shadow banking’.

The Financial Stability Board’s annual non-bank monitoring report, published today (December 20), showed total global financial assets hit $486.6 trillion at the end of last year, a rise of 7.7%. The change was “mainly driven” by growth in non-bank financial intermediation (NBFI), the FSB said.

After briefly retreating in 2020, NBFI

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