Most of the activity centers around the creation of collateralized loans and repurchase agreements used for short-term lending between non-bank institutions and broker-dealers. A more narrow measure in the report, used to indicate shadow banking activity that may give rise to financial stability risks, grew to $34 trillion in 2015, up 3.2% from the prior year and excluding data from China. Among the findings, the board found that non-bank financial assets had risen to $92 trillion in 2015 from $89 trillion in 2014. In May 2017, the Switzerland-based Financial Stability Board released a report detailing the extent of global non-bank financing. Despite the higher level of scrutiny of shadow banking institutions in the wake of the financial crisis, the sector has grown significantly.
