shadow banking system

English

Etymology

Attributed to Paul McCulley of PIMCO [1], 2007.

Noun

shadow banking system (plural shadow banking systems)

  1. (pejorative, banking, finance, economics) Non-bank financial institutions, that, like banks, borrow short and in liquid forms and lend or invest long in more illiquid assets.

See also

References

  1. ↑ http://money.cnn.com/2007/11/27/news/newsmakers/gross_banking.fortune/ Beware our shadow banking system, Bill Gross, November 28 2007
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