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shadow bank
noun
An entity that illegally performs banking functions.
Exact(15)
This is, in large part, a "bad shadow bank", containing wholesale-funded consumer-finance businesses and securitised assets.
The firm, the epitome of what's known as a shadow bank, runs a big fund of funds unit that has "strategic alliance" funds for seeding new hedge funds.
In January another shadow bank, China Credit Trust, announced that a product through which it had raised 3 billion yuan, China Credit Equals Gold #1, was on the verge of default.
Even using the maximal measure of excess credit based on bank and shadow bank data to bias the forecast path down as far possible, it is still not possible to account for the UK's dismal performance.
Regulators are encouraging the growth of certain types of shadow bank not to reduce the cost of financial services though that is a worthy goal but to make the financial system safer.
Now, Italy is not a shadow bank; its debt has on average a roughly 7-year maturity, so high interest rates take time to filter into higher debt service.
Similar(45)
Shadow banking isn't going away.
SHADOW banking contributed to the financial crisis.
This week in The Economist Shadow banking Shadow banks helped cause the financial crisis.
We call it the shadow banking system".
Not for nothing are they called "shadow banks".
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