Shadow banking

Nathaniel Butler Blondel and Guillaume Plantin

Chapter 18 in Research Handbook of Macroprudential Policy, 2026, pp 418-438 from Edward Elgar Publishing

Abstract: The volume of loans to households and firms held outside the regulated banking system has greatly increased since the turn of the century in most major financial systems. This chapter offers a description of the rise and evolution of this non-banking credit activity – so-called “shadow banking”. It reviews the literature that seeks to explain its origins and identifies the central role played by prudential and macroprudential regulations. Finally, we discuss the challenges that the rise of such non-banking financial institutions creates in turn for financial regulation and, more broadly, for monetary policy.

Keywords: Shadow Banks; Non-Bank Financial Institutions; Prudential Regulation; Macroprudential; Financial Dominance (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035306206
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