4  Countries with policy rates at or below 0.5 percent now account for around 65 percent of global GDP. Around USD13.4 trillion of bonds carry a negative yield. 5  Global foreign exchange market turnover reached an estimated $ trillion a day in 2013, up from $ trillion in 2007 and $ trillion in 1998.
*  *  *  Assistance provided by Shri SM Pillai and Shri Raj Rajesh is gratefully acknowledged. What is shadow banking? 1. Shadow banking is a universal phenomenon, although it takes on different forms.