Non-bank financial firms' impact on the eurozone
The growth in the amount of deposits held by financial institutions other than banks in the euro area has led to the integration and deepening of the region's financial markets and a shift in the attitude of investors towards risk, research by the European Central Bank finds.
The research showed that investment funds tend to hold more money than other non-bank financial institutions and that these institutions seem to favour instruments within the M3 band, which have a stronger financial market
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