Non-bank financial institutions: assessment of their impact on the stability of the financial system

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EUROPEAN 
ECONOMY
Economic Papers 472 | November 2012
Non-bank 
fi
nancial institutions: 
Assessment of their impact 
on the stability of the 
fi
nancial system 
Economic and 
Financial A
ff
 airs
ISSN 1725-3187

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Economic Papers 
are written by the Staff of the Directorate-General for Economic and Financial 
Affairs, or by experts working in association with them. The Papers are intended to increase awareness 
of the technical work being done by staff and to seek comments and suggestions for further analysis. 
The views expressed are the author’s alone and do not necessarily correspond to those of the European 
Commission. Comments and enquiries should be addressed to: 
European Commission 
Directorate-General for Economic and Financial Affairs 
Publications 
B-1049 Brussels 
Belgium 
E-mail: [e-mail] 
This paper exists in English only and can be downloaded from the website 
ec.europa.eu/economy_finance/publications 
 
A great deal of additional information is available on the Internet. It can be accessed through the 
Europa server (
ec.europa.eu
) 
KC-AI-12-472-EN-N 
ISBN 978-92-79-22993-0 
doi: 10.2765/27776 
© European Union, 2012 

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European Commission 
Directorate-General for Economic and Financial Affairs 
Non-bank financial institutions:
Assessment of their impact
on the stability of the financial system 
 
 
 
 
 
 
EUROPEAN ECONOMY 
Economic Papers 472

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