Nikolaj Nielsen, EUObserverBRUSSELS - The eurozone has the world's second largest shadow banking system after the United States, with assets worth some €17.2 trillion in 2011.
"The US' share of the global shadow banking system has declined from 44 percent in 2005 to 35 percent in 2011. This decline has been mirrored mostly by an increase in the shares of the UK and the euro area," said the Basel, Swizterland-based Financial Stability Board (FSB) in a report released on Sunday (18 November).
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