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Discover Ludwig"shadow banks" is a correct and usable phrase in written English.
It refers to non-bank financial institutions that provide services similar to those of traditional commercial banks, but without the same regulatory oversight. For example, "The collapse of the shadow banks caused considerable financial distress to many individuals and businesses."
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What are shadow banks?
This would impact both traditional banks and shadow banks.
And in many cases, the investment banks were shadow banks.
Shadow banks got into the game as well.
Not for nothing are they called "shadow banks".
As a result, lending activity would migrate from traditional banks to shadow banks.
We examine the business model of traditional commercial banks when they compete with shadow banks.
The market share of shadow banks in the mortgage market has nearly tripled from 2007-2015.
Shadow banks now occupy a large and important part of the mortgage market.
(2018b) The Limits of Shadow Banks (NBER Working Paper Series No. 25149) Cambridge, Mass.
We study the rise of fintech and non-fintech shadow banks in the residential lending market.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com