English Explanatory Dictionary

shadow banking system

English dictionary entry

Meanings

noun
  1. Non-bank financial institutions, that, like banks, borrow short and in liquid forms and lend or invest long in more illiquid assets.

Word forms

shadow banking system shadow banking systems

Etymology

Coined by Paul McCulley in 2007. Parallel with earlier constructions such as shadow cabinet and shadow government as names for quasi-institutions running unofficially in parallel with the official institutions.

Related words

shadow bank
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