Ireland is world’s fourth-largest shadow banking hub

$2.2tn held in little-understood entities in IFSC

The IFSC in Dublin is home to $2.2 trillion of nonbanking financial assets based in funds, special-purpose vehicles and other little-understood entities

The IFSC in Dublin is home to $2.2 trillion of nonbanking financial assets based in funds, special-purpose vehicles and other little-understood entities

Ireland is home to the world’s fourth-largest “shadow banking” industry, with $2.2 trillion of nonbanking financial assets based in funds, special-purpose vehicles and other little-understood entities in Dublin’s IFSC, according to a report published on Tuesday.

The figure equates to almost eight times the size of the Irish economy, as measured by gross domestic product.

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