Swiss shadow banking sector 80% of GDP

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The size of the  Swiss shadow banking sector in relation to its GDP is significantly smaller than anticipated, the Swiss National Bank (SNB), stated as part of its annual survey on the shadow banking industry conducted by its Financial Stability Board.

The report covers the shadow banking sectors in 25 different countries in relation to their GDP.

While the size of shadow banks with similar risks to banks has previously been estimated at CHF1500bn (€1242bn) or 250% of Swiss GDP, it is now estimated atCHF500bn (€414bn), roughly 80% of Swiss GDP.

Overall, non-bank financial intermediation grew by $5trn (€3.9trn) in 2013, reaching a total of $75trn (€59.6trn), although according to a narrower definition of shadow banks, it is estimated to be at €27trn (€21.4trn). According to the study, global assets of non-bank financial intermediaries represent on average about 25% of total financial assets, roughly half of all banking system assets and 120% of global GDP.

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