Question: 9. The shadow banking system is defined as:* 4 points a. The underground banking system used for illegal activities b. The subsidiaries of depository institutions

9. The shadow banking system is defined as:*

4 points

a. The underground banking system used for illegal activities

b. The subsidiaries of depository institutions

c. Any non-bank financial institution that supply liquidity

d. b and c are correct

e. None of the above are correct

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