Last week, we sent clients several in-depth analyses that build on our daily alerts (see below) about growing IMF worries regarding the size of the shadow sector and the systemic risk it poses.  Managing partner Karen Petrou also addressed this in remarks last Thursday that lay out her views on the need for a unified view of banking that understands the impact new rules have on banks, the market reconfiguration that results, and the risk both to safety and soundness and economic growth that may then ensue. 

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