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Could the great growth of shadow banking, the shadow financial system, become the hotbed of the next crisis? After the fastest and most significant rise in interest rates in recent decades, the concerns of the global Supervisory Authorities – starting with the Financial Stability Board, but also the ECB – come precisely from the world of shadow banking which, according to the most correct official definition , includes “Non-banking financial institutions” (Nbfi): pension funds, insurance companies…