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What is the "Shadow Banking System"?
The term 'shadow banking system' has been in common usage only since 2007, but the antecedents of this rather imprecise description go back much further. Innovation in the development of new financial instruments such as CDOs, CDSs, SIVs and the like, aided by the digital revolution, has resulted in the growth in size and complexity of bank-like entities that lie outside traditional banking constraints. They have changed banking risks and made central bank regulation and crisis support more difficult. Yet shadow banking has become a large part of the financial system in most developed countries and is now seen as a major force in China. It cannot be ignored, even if it is little understood by any except those involved in such activities. Those of us seeking to reform the monetary system need to be aware of the nature and impact of shadow banking within banking as a whole. This evening's presentation seeks to begin this process by introducing the shadow banking system to those who have little or no knowledge of what it is and what it does. Our meeting is open to all interested in the question of whether the shadow banking system matters when considering the nation's financial stability and exposure to unquantified risk. We are meeting in the upper room of the Prince of Greenwich Pub on Thursday 21st June at 7:30pm. We hope you will be able to join us! - Mike and Tim

The Prince of Greenwich

72 Royal Hill, Greenwich, SE10 8RT · London

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Positive Money ( is a movement to democratise money and banking so that it works for society and not against it.

Our current financial system has left us with the highest personal debt in history, unaffordable housing, worsening inequality, high unemployment and banks that are subsidised and underwritten with taxpayers’ money. We believe that these problems have a common root: money (

We’re a not-for-profit organisation based in London (although we also work with partners around the world ( We rely on a team ( of skilled and dedicated volunteers, coordinated by four full-time staff and operate from a small (and cheap!) office.

Our Board of Advisors ( includes economics professors, authors, entrepreneurs and people from the financial industry who know that something needs to change.

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