WSJ: Shadow Banks Leading Cross-Border Credit Growth

The Wall Street Journal reported that nonbank financial institutions have been taking the lead in cross-border credit.

Shadow banks’ cross-border activity was up 17% in Q3/19 from the prior-year period, according to data from the Bank for International Settlements.

The Journal noted that banks’ lending activity with nonbank lenders has increased by $8 trillion since 2013, while their cross-border lending activity has decreased.

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