Size of Shadow Banking Reaches $640 Billion in S. Korea

Write : 2015-11-25 08:57:27 Update : 2015-11-25 08:57:56

The size of the global shadow banking system reached 36 trillion dollars last year and South Korea’s share accounts for some 640 billion dollars.
 
According to a recent report by the Financial Stability Board, shadow banking in the world’s 26 major countries grew one-point-one trillion dollars from the previous year.
 
South Korea’s share is about 48 percent of the nation’s gross domestic product (GDP).
 
Between 2011 and 2014, shadow banking expanded at an annual average of ten-point-six percent, more than twice the increase in the GDP in South Korea.
 
Shadow banking refers to financial institutions or products that provide services similar to traditional banks such as supplying funds, but are largely unregulated.
 
South Korea’s share of shadow banking among the 26 nations increased from one-point-three percent at the end of 2010 to one-point-eight percent at the end of last year. 

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