Equity Investment Funds) or that are already prudentially consolidated into banking groups. As a result, it is believed that this narrower measure more accurately reflects the size and composition of the shadow banking sector, subject to the caveats and FSB’s resolve to further refine the narrower measure.
Another change that has been brought in this time around is a new activity-based “economic function” measure of shadow banking, each of which involves non-bank credit intermediation that may pose shadow banking risks (e.g. maturity / liquidity transformation and leverage).