Shadow Banking

Shadow Banking is the first study to bring together the insights from financial regulators, practitioners and academics from across the social sciences. The first part traces the evolution and ongoing confusion about the meaning of `shadow banking¿. The second section draws major lessons about shadow banking as posed by the financial crisis of 2007-09, providing comparative analyses in the US and Europe, and attempts to establish why shadow banking has emerged and matured to the level of a de-facto parallel financial system. Finally, the third part goes beyond current regulatory concerns about shadow banking and explains why it is `here to stay¿.