250万亿美元！影子银行规模突破250万亿美元大关

Core Insights - The global asset size of the shadow banking system has surpassed $250 trillion for the first time, raising concerns about systemic risks in less regulated areas of the financial system [1][3]. Group 1: Shadow Banking Growth - As of the end of 2024, the total assets of non-bank financial institutions, including hedge funds, insurance companies, and investment funds, reached a record $256.8 trillion, representing a year-on-year growth of 9.4% [1][3]. - Non-bank financial institutions now account for 51% of total financial assets, maintaining a level similar to that before the pandemic [1][3]. - The fastest-growing segments within non-bank financial institutions are trust companies, hedge funds, money market funds, and other investment funds, all experiencing double-digit growth rates [1][3]. Group 2: Banking Sector Comparison - In contrast, the banking sector's assets grew by only 4.7% during the same period [1][3]. Group 3: Private Credit Industry Concerns - The Financial Stability Board (FSB) expressed regret over the lack of data regarding the growth of the private credit industry, which is estimated to be in the trillions of dollars [1][3]. - Regulatory bodies are closely monitoring potential risks in the private credit sector, with warnings issued by high-profile bank executives, including Jamie Dimon of JPMorgan and Colm Kelleher of UBS [1][3]. Group 4: Data Collection Challenges - Officials reported significant discrepancies in the data collected from eight major jurisdictions, including Canada, Germany, Italy, Luxembourg, the Netherlands, Japan, Switzerland, and Hong Kong, with reported private credit activities amounting to only $0.5 trillion [2][4]. - The FSB noted that not all participating jurisdictions could provide comprehensive data, with some only reporting partial industry data [2][4]. - There is currently a lack of global standard definitions for private credit and finance, complicating the identification of private credit entities in statistical and regulatory reports [2][4]. The FSB's work plan for 2026 includes addressing data gaps in private credit [2][4].