World Banking Business: Shocking Data

World Banking Business: Shocking Data







The
Financial Stability Board (FSB) was created at the G20 summit in April
2009, the time the world financial crisis was in full swing. By the end
of 2012 it issued its Global Shadow Banking Monitoring Report, assessing
the information on the activities of banks and other financial bodies
in 2011 (1). The global shadow banking system grew to $67 trillion, a
figure comparable to the same year’s global GNP. It strikes imagination
and drastically changes the whole vision of the world economy…

The banking shadow dealings have been on the rise each year. The
earliest assessment is dated 2002: $26 trillion. It was $62 in 2007,
right before the world financial crisis. As many experts see it, the
banking business going into shadow is what undermines the global
financial system and creates conditions for the repetition of global
financial crises. The writers try to make the picture look a bit rosier
than it is saying the shadow transactions share of the total global
financial intermediation has not grown since 2007. Still it has been
25%. The same figure goes for assets. One fourth of world financial
turnover is exorbitant! ..Unhealthy earth -Read more »


Thanks to: http://aworldchaos.wordpress.com