**[Financial Stability Board: The Growth Rate of "Shadow Banking" is Twice That of Traditional Banking]** Golden Finance reports that the Financial Stability Board (FSB) stated on Tuesday that the share of the non-bank financial sector in global assets rose to 51% last year, totaling $256.8 trillion, with a growth rate twice that of the traditional banking sector. Non-bank financial intermediaries, often referred to as "shadow banking," include entities such as money market funds, hedge funds, private credit institutions, pension funds, and insurance companies. The rapid expansion of this sector has increasingly become a focal point for regulators, who are concerned about its lack of transparency and the potential risks it poses to the broader financial markets. The Financial Stability Board, which is responsible for coordinating financial regulatory rules among G20 economies, noted in its annual assessment report on the sector that the share of the non-bank financial sector in global assets reached the second-highest level in history, similar to pre-pandemic levels.