Non-bank growth pushes global financial assets to new peak

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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