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English definition of “shadow bank”

shadow bank

noun [C]
 
 
FINANCE, BANKING
an organization or company that is involved in financial activities such as lending or investing money, but is not officially a bank and does not accept deposits, so does not have to obey the same rules as banks: Shadow banks play an important role in providing credit across the global financial system.
(Definition of shadow bank from the Cambridge Business English Dictionary © Cambridge University Press)
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