Gillian Tett
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Gillian Tett explains shadow banking

Bank of England governor and chairman of the Financial Stability Board, Mark Carney, has called for more regulation in the shadow banking market.

Gillian Tett, assistant editor of the Financial Times, explains shadow banking to Radio 4 business presenter Justin Rowlatt.

"When you have shadow banks pumping out a lot of credit into the economy through all sorts of shadowy ways, that means that you can get bubbles developing which are even bigger than people might have realised and some people think that's happening again," she says.

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