See Carol Bertaut, Bastian von Beschwitz, and Stephanie Curcuru (2021), “The International Role of the U.S. Dollar,” FEDS Note (Washington: Board of Governors of the Federal Reserve System, October 6), https://doi.org/10.17016/2380-7172.2998. 1  -2The Federal Reserve’s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value.
According to the Financial Stability Board, at the end of 2016, non-bank financial intermediaries held $ trillion in total assets, about one and a half times the level at the end of 2008, while over the same period banks’ assets have risen only marginally. The non-bank financial intermediaries performing bank-like functions in 2016 held $ trillion of assets.