Euro-area financial sector: growing and changing
Heike MaiDespite a small dip in Q3 2015, the assets of financial institutions in the euro area are still broadly at a record level of about EUR 66 trillion.
Despite a small dip in Q3 2015, the assets of financial institutions in the euro area are still broadly at a record level of about EUR 66 trillion. The financial sector – composed of banks, insurance companies & pension funds, and “shadow banks” – more than doubled its size over the past 15 years. Shadow banks have grown the most and now represent 40% of the financial sector with assets estimated at EUR 26 trillion.
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