shadow banking system

== English == === Etymology === Coined by Paul McCulley in 2007. Parallel with earlier constructions such as shadow cabinet and shadow government as names for quasi-institutions running unofficially in parallel with the official institutions. === Noun === shadow banking system (plural shadow banking systems) (derogatory, banking, finance, economics) Non-bank financial institutions, that, like banks, borrow short and in liquid forms and lend or invest long in more illiquid assets. Meronym: private credit Coordinate terms: banking, banks ==== Related terms ==== shadow bank === References === === Further reading === shadow banking system on Wikipedia.Wikipedia