Beyond Regulators' Grasp How Shadow Banks Rule the World

Beyond the banking world, a parallel universe of shadow banks has grown in the form of hedge funds and money market funds. They're outside the reach of conventional financial regulation, prompting authorities to plan introducing new rules to prevent the obscure sector from triggering a new financial crisis. But in doing so they risk drying up an important source of funding to banks and firms.
The Canary Wharf financial district in London.

The Canary Wharf financial district in London.

Foto: Dan Kitwood/ Getty Images
Translated from the German by Christopher Sultan
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