What is so special about European Shadow banking?

The 2007 financial crisis revealed the existence of a completely parallel funding system outside of […]

Policy Study

10/08/2016

The 2007 financial crisis revealed the existence of a completely parallel funding system outside of regular banking, the so-called shadow banking system (SBS). Researchers have focused on the American SBS, but the European SBS has received little attention. Yet different features specific to continental Europe make it difficult to just copy and apply the analysis of the US SBS to a reality that is different on the old continent. In this paper we argue that the European SBS is not merely a by-product of the American SBS but rather has unique roots that have led to a distinct type of SBS. In particular, the European SBS occurs partly within the banks themselves. Indeed, the European SBS exists within the framework of a different variety of capitalism than that of the US. Finally the US and European SBS are strongly interconnected, playing a major role in the spread of the crisis.

Read the study

Find all related publications
Publications
21/11/2022

The EU and North Africa: Towards a just Twin Transition?

In an era marked by a deficiency in sustainable growth and a profusion of novel […]
08/11/2022

Building resilient democracies

Challenges and solutions across the globe
23/10/2022

The EU and gender equality

FEPS Primers Series - Agnes Hubert
23/10/2022

The progressive potential of the EU

FEPS Primers Series - Richard Corbett
Find all related news
News
15/11/2022

FEPS delegation at COP27

FEPS delegation was present at COP27, with the strategic objectives of mobilizing climate finance for […]
20/10/2022

Europe’s largest Gen Z-focused research ever conducted

The Foundation for European Progressive Studies (FEPS) and ThinkYoung have conducted, over 3 years, Europe’s […]
18/10/2022

Open letter to call for a deep reform of the EU fiscal rules

FEPS cosigned an open letter to EU leaders calling for them to address the underlying structural […]
23/09/2022

FEPS President in the United Nations General Assembly

During the UNGA 77 week in New York, FEPS is expanding its global partnership. Among […]
Find all related in the media
In the media

El PSC se reunirá de nuevo con el Govern el miércoles por los Presupuestos

by EuropaPress 24/11/2022
EuropaPress echoes the 'Twin Transition' event in Barcelona, organized by FEPS and Fundació Campalans, with the participation of Salvador Illa and FEPS President Maria João Rodrigues.

A baloldal főutcája

by Népszava 21/11/2022
Article by FEPS Secretary General László Andor on the state of social democracy after the PES congress - “The main street of the left”

La doble transición verde y digital como arma contra los depredadores de la energía

by Crónica Global 18/11/2022
Article by Pau Solanilla, Director of Fundació Rafael Campalans, ahead of the FEPS-Campalans event 'Figuring out the Twin Transition'

El reto de las Smart Cities, combinar digitalización y sostenibilidad

by ABC 18/11/2022
Article by Pau Solanilla, Director of Fundació Rafael Campalans, ahead of the FEPS-Campalans event 'Figuring out the Twin Transition'