Shadow Banking Poses Challenges for Global Financial Markets in Coronavirus Crisis
Ongoing disruptions in the global financial markets have refocused attention on nonbank financial intermediaries (FIs) and shadow banking. These nonbank FIs are important, especially now. Shadow banking assets now represent more than a third of the global assets held by banking organizations. The financial authorities globally have been concerned with the risks posed by these FIs. In a stressed environment, withdrawals, funding difficulties and other disruptions at these nonbank FIs can have a widespread impact on the financial markets. With the heightened uncertainty surrounding the spread of the Coronavirus Disease (COVID-19), that stressed environment is here and the stress on these FIs is having an impact.
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