Table 1 FSB’s narrow definition of shadow banking and example of classified entity type
Economic functions | Definition | Typical entities |
|---|---|---|
Economic-function: 1 | Management of collective investment vehicles with features that make them susceptible to runs | MMFs, fixed-income funds, mixed funds, credit hedge funds, real estate funds |
Economic-function: 2 | A loan provision that is dependent on short-term funding | Finance companies, leasing/factoring companies, consumer credit companies |
Economic-function: 3 | Intermediation of market activities that is dependent on short-term funding or secured funding of client assets | Broker-dealers, securities finance companies |
Economic-function: 4 | Facilitation of credit creation | Credit insurance companies, financial guarantors, monoline |
Economic-function: 5 | Securitization-based credit intermediation and funding of financial entities | Securitization vehicles, structured finance vehicles, asset-backed securities |