ECB warns on finance as real estate closes on pre-crash peak

(stock photo)

David Chance

The European Central Bank warned on Wednesday of the growth of the shadow banking sector and said that commercial real estate values and transactions were at, or approaching pre-crash levels.

The report said that in the European Union assets of the shadow banking sector, which comprises investment funds and other financial institutions, fell slightly to €41.9 trillion at the end of 2018, those domiciled here rose by 0.3pc.