Deloitte LLP has come up with clever new way to describe and track the size and changes in the shadow banking industry. Recognizing that market participants and regulators lacked clarity and consistency when it came to defining, measuring, and framing the debate about this complex and dynamic subject, Deloitte has devised a "Shadow Banking Index." Starting with a baseline definition and using data gathered from 2004 onward, Deloitte's index represents an ongoing effort to more closely measure the size, importance, and effect of market and regulatory actions on the activities defined as "shadow banking." The index is also intended as a way to assess the potential effect of shadow banking on regulated markets.

The SEC has issued a policy statement laying out a roadmap for how it plans to implement new rules regulating security-based swaps and security-based swap market participants under authority granted to it by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.  The Statement presents a sequencing of the compliance dates for these final rules by grouping the rules into five categories and describes the interconnectedness of the compliance dates for these rules, both within and among the five categories.

Per the 2013 U.S. Financial Services and General Government Appropriations Bill of the House Appropriations Committee, the SEC must perform an in-depth study on the effectiveness of the Commission's long standing rules, as well as the more recent money market regulatory reforms. In particular, Congress wants to know whether these rules help in providing liquidity to the capital and municipal markets and to what extent they promote and enhance money market fund stability, resiliency, and transparency.  This proposed legislation just adds to the ongoing discussion among US regulators, Congressional leaders, and international oversight bodies on the systematic risks still posed by money market funds.