Shining light on a banking shadowland

Mark Carney has made it clear the FSB's goal is not to kill off shadow banking but drag it into the sunlight, while harnessing its risk appetite and ability to provide alternate liquidity sources.

Nearly three-and-a-half years ago, when the last of the Wall Street heavyweights, Goldman Sachs and Morgan Stanley, sought refuge in the official banking system after Lehman Bros collapsed, it appeared the shadow banking system had been dealt a major blow. After a minor hiatus, however, it appears to have bounced back to the point where the shadow system is now as big as it was before Lehman fell.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles