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Easy credit and mortgages were one of the causes of the 2008 financial crisis (Photo: Jeremy Brooks)

EU still unsure what 'shadow banking' really is

The EU is considering new rules on so-called shadow banking - unregulated investment funds and mortgage institutions - but it still has to define exactly what type of financial activities it covers.

"Shadow banking is a parallel banking system for which we do have to create effective regulation and supervision, otherwise the financial markets may well transfer part of their activities and products to this unregulated market and increase the risk of new crises," financial markets commiss...

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Easy credit and mortgages were one of the causes of the 2008 financial crisis (Photo: Jeremy Brooks)

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