{"id":26345,"date":"2025-12-16T09:00:00","date_gmt":"2025-12-16T13:00:00","guid":{"rendered":"https:\/\/gestionderiesgo.org\/?p=26345"},"modified":"2026-10-12T21:27:03","modified_gmt":"2026-10-13T01:27:03","slug":"fsb-global-monitoring-report-nbfi-2025","status":"publish","type":"post","link":"https:\/\/gestionderiesgo.org\/en\/fsb-global-monitoring-report-nbfi-2025\/","title":{"rendered":"Global Monitoring Report on Non-Bank Financial Intermediation 2025"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" 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.cgp-cover.cgp-doc{aspect-ratio:4\/3}#cgr-pub .cgp-head{grid-template-columns:minmax(0,1fr);gap:26px}#cgr-pub .cgp-body{grid-template-columns:minmax(0,1fr);gap:30px}#cgr-pub .cgp-side{position:static}}\n@media(max-width:520px){#cgr-pub{font-size:16px}#cgr-pub .cgp-facts{grid-template-columns:minmax(0,1fr)}#cgr-pub .cgp-btn{width:100%;justify-content:center}}\n<\/style>\n<div id=\"cgr-pub\">\n<header class=\"cgp-head\">\n<figure class=\"cgp-cover cgp-doc\"><i style=\"background-image:url(https:\/\/gestionderiesgo.org\/wp-content\/uploads\/2026\/10\/pub-fsb-global-monitoring-report-nbfi-2025.jpg?v=1791854786)\"><\/i><img fetchpriority=\"high\" src=\"https:\/\/gestionderiesgo.org\/wp-content\/uploads\/2026\/10\/pub-fsb-global-monitoring-report-nbfi-2025.jpg?v=1791854786\" width=\"720\" height=\"1018\" alt=\"Primera p\u00e1gina del documento: Global Monitoring Report on Non-Bank Financial Intermediation 2025\" loading=\"eager\" decoding=\"async\"><\/figure>\n<div class=\"cgp-intro\">\n<p class=\"cgp-kind\">Report \u00b7 International body<\/p>\n<h2 class=\"cgp-title\">Global Monitoring Report on Non-Bank Financial Intermediation 2025<\/h2>\n<p class=\"cgp-lead\">The FSB documents that non-banks are growing at twice the pace of banks and that data on private credit remain insufficient.<\/p>\n<dl class=\"cgp-facts\"><div><dt>Organization<\/dt><dd>Financial Stability Board (FSB)<\/dd><\/div><div><dt>Document date<\/dt><dd>16 December 2025<\/dd><\/div><div><dt>Type<\/dt><dd>Report<\/dd><\/div><div><dt>Language<\/dt><dd>English<\/dd><\/div><div><dt>Scope<\/dt><dd>International<\/dd><\/div><div><dt>Length<\/dt><dd>91 pages<\/dd><\/div><\/dl>\n<div class=\"cgp-actions\"><a class=\"cgp-btn\" href=\"https:\/\/www.fsb.org\/2025\/12\/global-monitoring-report-on-nonbank-financial-intermediation-2025\/\" target=\"_blank\" rel=\"noopener noreferrer\"><svg viewbox=\"0 0 24 24\" aria-hidden=\"true\"><path d=\"M14 4h6v6\"\/><path d=\"M20 4l-9 9\"\/><path d=\"M18 14v5a1 1 0 0 1-1 1H5a1 1 0 0 1-1-1V7a1 1 0 0 1 1-1h5\"\/><\/svg>See the official source<\/a><a class=\"cgp-btn alt\" href=\"https:\/\/www.fsb.org\/uploads\/P161225.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><svg viewbox=\"0 0 24 24\" aria-hidden=\"true\"><path d=\"M7 3h7l5 5v12a1 1 0 0 1-1 1H7a1 1 0 0 1-1-1V4a1 1 0 0 1 1-1z\"\/><path d=\"M14 3v5h5\"\/><path d=\"M9 14h6\"\/><path d=\"M9 17h4\"\/><\/svg>PDF document<\/a><\/div>\n<\/div>\n<\/header>\n<div class=\"cgp-body\">\n<div class=\"cgp-main\">\n<h3>What it contains<\/h3>\n<p>The report, published on 16 December 2025, presents the results of the FSB\u2019s 15th annual global monitoring exercise on non-bank financial intermediation (NBFI) for the year ending 31 December 2024, covering 29 jurisdictions that account for more than 90% of world GDP. In 2024 the NBFI sector grew 9.4%, twice as fast as the banking sector, and its assets (US$256.8 trillion) represented 51.0% of global financial assets, the second highest share recorded and similar to pre-pandemic levels. All subsectors grew; \u201cother financial intermediaries\u201d grew the most (11.3%), driven by investment funds (14.5%).<\/p><p>The \u201cnarrow measure\u201d, the subset of activities most likely to give rise to bank-like vulnerabilities (because of funding models susceptible to runs or reliant on short-term wholesale funding), rose 12.7% to US$76.3 trillion, 15.4% of total financial assets (14.5% in 2023), and funds susceptible to runs account for 76.1% of that measure. For the first time more granular data were collected on the wholesale funding of other financial intermediaries (21.3% of their assets). Borrowings by non-bank entities grew faster than those of banks (6.9% against 4.3%) and most vulnerability metrics stayed stable, with high liquidity transformation in fixed income and mixed funds and high leverage in finance companies, broker-dealers and structured finance vehicles.<\/p><p>This year\u2019s case study examines bank-NBFI interconnectedness and distinguishes three forms of linkage: deposits and funding relationships, loans and repos from banks to non-banks, and holdings of bank-issued securities. The report highlights data limitations for private credit: there is no standard definition in statistical and regulatory reports, so jurisdictions used proxies to identify entities that may engage in private finance activities, and most of those entities are not part of the narrow measure. In Latin American jurisdictions, interlinkages are predominantly domestic and funding-based.<\/p>\n<section class=\"cgp-importa\"><h3>Why it matters for risk management<\/h3><p>It helps size counterparty risk to funds and other non-banks, dependence on wholesale funding and interconnection with banks, which increasingly counts in stress tests and concentration management. It is an aggregate global report; for the Dominican Republic it should be read alongside local information.<\/p><\/section>\n<p class=\"cgp-note\">Summary prepared by the Dominican Republic Risk Management Club from a reading of the original document, with the source verified on 12 October 2026. It does not replace reading the official text and is not advice.<\/p>\n<p class=\"cgp-back\"><a href=\"\/en\/publicaciones\/\">See all publications<\/a><\/p>\n<\/div>\n<aside class=\"cgp-side\">\n<section class=\"cgp-card\"><h3>Key points<\/h3><ul class=\"cgp-points\"><li>15th annual exercise: 29 jurisdictions, more than 90% of world GDP, data to December 2024.<\/li><li>The NBFI sector grew 9.4%, twice as fast as banking, and reached US$256.8 trillion (51.0% of global financial assets).<\/li><li>Narrow measure of bank-like vulnerabilities: US$76.3 trillion, 15.4% of assets, with 76.1% in funds susceptible to runs.<\/li><li>High liquidity transformation in fixed income and mixed funds and high leverage in finance companies, broker-dealers and structured vehicles.<\/li><li>There is no standard definition of private credit in reports, and in Latin America links with banks are mainly domestic.<\/li><\/ul><\/section>\n<section class=\"cgp-card\"><h3>How to cite it<\/h3><p class=\"cgp-cite\">Financial Stability Board (2025). Global Monitoring Report on Non-Bank Financial Intermediation 2025. Basel: FSB, 16 December 2025.<\/p><\/section>\n<section class=\"cgp-card\"><h3>Topics<\/h3><ul class=\"cgp-chips\"><li><a href=\"\/en\/publicaciones\/?tema=estabilidad-financiera\">Financial stability<\/a><\/li><li><a href=\"\/en\/publicaciones\/?tema=riesgo-de-mercado-y-liquidez\">Market and liquidity risk<\/a><\/li><li><a href=\"\/en\/publicaciones\/?tema=riesgo-de-credito-y-contraparte\">Credit and counterparty risk<\/a><\/li><\/ul><\/section>\n<\/aside>\n<\/div>\n<\/div><link rel=\"stylesheet\" href=\"https:\/\/fonts.googleapis.com\/css2?family=Zilla+Slab:wght@500;600&display=swap\">\n<footer id=\"cgr-foot\" aria-label=\"Footer of the Risk Management Club\">\n<style>\n#main{padding-bottom:0!important}\n.fusion-fullwidth:has(#cgr-foot),.fusion-layout-column:has(#cgr-foot){padding-bottom:0!important;margin-bottom:0!important}\n#cgr-foot{--navy:#0E3351;--blue:#186392;--web:#1A80B6;--red:#E22A3A;--ink:#1C2632;--slate:#5B6775;--line:#D9E1EA;--mist:#F2F5F8;\n  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Av. Tiradentes at the corner of Presidente Gonz\u00e1lez, Ensanche Naco, Santo Domingo<\/span><\/li>\n      <li><svg viewbox=\"0 0 24 24\" aria-hidden=\"true\"><path d=\"M5 4h4l2 5-2.5 1.5a11 11 0 0 0 5 5L15 13l5 2v4a2 2 0 0 1-2 2A16 16 0 0 1 3 6a2 2 0 0 1 2-2\"\/><\/svg><span><a href=\"tel:+18097453289\">809-745-3289<\/a><br><a href=\"tel:+18494774959\">849-477-4959<\/a><a class=\"cgf-wa\" href=\"https:\/\/wa.me\/18494774959\" target=\"_blank\" rel=\"noopener\" aria-label=\"Escribir por WhatsApp al 849-477-4959 (se abre en una pesta\u00f1a nueva)\" title=\"WhatsApp\"><svg viewbox=\"0 0 24 24\" aria-hidden=\"true\"><path d=\"M17.472 14.382c-.297-.149-1.758-.867-2.03-.967-.273-.099-.471-.148-.67.15-.197.297-.767.966-.94 1.164-.173.199-.347.223-.644.075-.297-.15-1.255-.463-2.39-1.475-.883-.788-1.48-1.761-1.653-2.059-.173-.297-.018-.458.13-.606.134-.133.298-.347.446-.52.149-.174.198-.298.298-.497.099-.198.05-.371-.025-.52-.075-.149-.669-1.612-.916-2.207-.242-.579-.487-.5-.669-.51-.173-.008-.371-.01-.57-.01-.198 0-.52.074-.792.372-.272.297-1.04 1.016-1.04 2.479 0 1.462 1.065 2.875 1.213 3.074.149.198 2.096 3.2 5.077 4.487.709.306 1.262.489 1.694.625.712.227 1.36.195 1.871.118.571-.085 1.758-.719 2.006-1.413.248-.694.248-1.289.173-1.413-.074-.124-.272-.198-.57-.347m-5.421 7.403h-.004a9.87 9.87 0 01-5.031-1.378l-.361-.214-3.741.982.998-3.648-.235-.374a9.86 9.86 0 01-1.51-5.26c.001-5.45 4.436-9.884 9.888-9.884 2.64 0 5.122 1.03 6.988 2.898a9.825 9.825 0 012.893 6.994c-.003 5.45-4.437 9.884-9.885 9.884m8.413-18.297A11.815 11.815 0 0012.05 0C5.495 0 .16 5.335.157 11.892c0 2.096.547 4.142 1.588 5.945L.057 24l6.305-1.654a11.882 11.882 0 005.683 1.448h.005c6.554 0 11.89-5.335 11.893-11.893a11.821 11.821 0 00-3.48-8.413Z\"\/><\/svg><\/a><\/span><\/li>\n      <li><svg viewbox=\"0 0 24 24\" aria-hidden=\"true\"><rect x=\"3\" y=\"5\" width=\"18\" height=\"14\" rx=\"2\"\/><path d=\"m3.5 6.5 8.5 6.5 8.5-6.5\"\/><\/svg><a href=\"mailto:info@gestionderiesgo.org\">info@gestionderiesgo.org<\/a><\/li>\n      <li><svg viewbox=\"0 0 24 24\" aria-hidden=\"true\"><circle cx=\"12\" cy=\"12\" r=\"9\"\/><path d=\"M12 7v5l3 2\"\/><\/svg><span>Monday to Thursday, 8:30 a.m. to 5:30 p.m.<br>Friday, 8:30 a.m. to 5:00 p.m.<\/span><\/li>\n    <\/ul>\n  <\/div>\n<\/div>\n\n<div class=\"cgf-bar\">\n  <div class=\"cgf-legal\"><img decoding=\"async\" class=\"cgf-pay\" src=\"https:\/\/gestionderiesgo.org\/wp-content\/uploads\/2023\/01\/Verified.png\" alt=\"Verified by Visa y Mastercard ID Check\" width=\"101\" height=\"34\" loading=\"lazy\"><p>\u00a9 2026 Gesti\u00f3n de Riesgo RD, SRL. 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