‘Shadow Banks’ Account for Half of the World’s Assets—and Pose Growing Risks: 'no one seems to have a firm handle on the risks that nonbank financial entities could pose if numerous trades and investments sour.'
Source: https://www.marketwatch.com/articles/shadow-banks-account-for-half-of-the-worlds-assetsand-pose-growing-risks-8f4b5961
The sudden failure this year of three sizable American banks demonstrated one way in which the financial system can “break” as the Federal Reserve and other central banks press a campaign to normalize interest rates.
There could be others.
Risk-minded regulators, policy makers,