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cory777

(1,384 posts) Mon Nov 19, 2012, 03:50 AM Nov 2012

Task force says global shadow banking hits $67 trillion

Source: Reuters

BRUSSELS, Nov 18 (Reuters) - The system of so-called "shadow banking," blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year, a top regulatory group said, calling for tighter control of the sector.

A report by the Financial Stability Board (FSB) on Sunday appeared to confirm fears among policymakers that shadow banking is set to thrive, beyond the reach of a regulatory net tightening around traditional banks and banking activities.

The FSB, a task force from the world's top 20 economies, also called for greater regulatory control of shadow banking.

"The FSB is of the view that the authorities' approach to shadow banking has to be a targeted one," the group wrote in a report, noting the current lax regulation of the sector.

Read more: http://www.reuters.com/article/2012/11/18/shadow-banking-regulation-idUSL5E8MI6F320121118

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6 replies

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Task force says global shadow banking hits $67 trillion (Original Post) cory777 Nov 2012 OP

Listen to Gordon Chang on this. napoleon_in_rags Nov 2012 #1

Marked to watch later. O: pam4water Nov 2012 #3

Its worth it. All eyes are on Xi Jinping, this really matters. napoleon_in_rags Nov 2012 #6

LMSP kicking...n/t littlemissmartypants Nov 2012 #2

Quick, someone from Anonymous, hack the shadow bank and play off the nation debt. They probably wont pam4water Nov 2012 #4

Don't worry Daniel537 Nov 2012 #5

napoleon_in_rags

(3,991 posts)

1. Listen to Gordon Chang on this.

Reply to cory777 (Original post)

Mon Nov 19, 2012, 04:13 AM

Nov 2012

The upshot is that we absolutely no idea what's actually going on with China, because they are so deep in these shadow banking arrangements. This would be a curiosity, if the whole future of America wasn't tied to them.

pam4water

(2,916 posts)

3. Marked to watch later. O:

Reply to napoleon_in_rags (Reply #1)

Mon Nov 19, 2012, 08:55 AM

Nov 2012

napoleon_in_rags

(3,991 posts)

6. Its worth it. All eyes are on Xi Jinping, this really matters.

Reply to pam4water (Reply #3)

Mon Nov 19, 2012, 09:46 AM

Nov 2012

China is at an unstable time, but with right reforms it can blossom into a strong consumer state, with the people having fun, buying their own goods, and even buying our goods to create harmony in trade relations. But things go south, and there is a world of shit for all involved: They become a terrifying, unstable military power with vast technological expertise (the fear of this driving Obama's "pivot" to the Asian realm) and our economic dependence with them leads to disaster for us. Everybody who knows the big picture right now is watching China, prayerfully watching China.