shadow banking system
English
Etymology
Attributed to Paul McCulley of PIMCO [1].
Noun
shadow banking system (plural shadow banking systems)
- (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.
Related terms
See also
Shadow banking system on Wikipedia.Wikipedia
References
- ^ http://money.cnn.com/2007/11/27/news/newsmakers/gross_banking.fortune/ Beware our shadow banking system, Bill Gross, November 28 2007