2. 2.With reference to Shadow Banking System in news recently, consider the following statements?
- The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal banking regulations.
- Shadow institutions typically do not have banking licenses.
- Many shadow banking entities are sponsored by banks or are affiliated with banks through their subsidiaries or parent bank holding companies.
- Shadow banking institutions are typically intermediaries between investors and borrowers.
Which of the above statements are correct?