The capacity of shadow banks to precipitate systemic crisis was manifested in the recent global financial crisis. b. Regulatory arbitrage spread across geographical jurisdictions  14. Different legal and regulatory frameworks across geographical jurisdictions also pose a significant handicap in curbing the shadow banking activities, which are spread across borders.
4  SWIFT (2013): The complicated Path of RMB Internationalisation, abrufbar unter: http://www.swiftinstitute.org/ newsletters/the-complicated-path-of-rmb-internationalisation. 2  BIS central bankers’ speeches  growing use in foreign trade, international renminbi deposits in Hong Kong have also increased considerably to over 670 billion renminbi (approximately EUR 83 billion).5 To come back to my question at what stage is the renminbi now?