1. Dwight B. Crane, et al., The Global Financial System: A Functional Perspective (Harvard Business School Press 1995); Robert C. Merton, ‘A Functional Perspective of Financial Intermediation’, 24 Financial Management (1995) p. 23.
2. Nicola Cetorelli, et al., ‘The Evolution of Banks and Financial Intermediation: Framing the Analysis’, 18 Federal Reserve Bank of New York Economic Policy Review (2012) p. 1.
3. Financial Stability Board, ‘Global Shadow Banking Monitoring Report 2013’, November 2013, available at: .
4. Zoltan Pozsar, et al., ‘Shadow Banking’, Federal Reserve Bank of New York Staff Report No. 458, July 2010, revised February 2012, at p. 9, available at: .
5. Financial Stability Board, supra n. 3.