Data collection was expanded to include credit assets and lending of selected categories of financial entities. Section 5 analyses non-bank lending and credit intermediation trends to assess the sources and extent of incremental credit to the economy This years report also includes a summary of the second regional study on shadow banking d by the rcg for the americas and a country case study from Ireland of its shadow banking system Going forward the monitoring exercise will continue to benefit from further improvement and thorough follow-up by jurisdictions to address identified data gaps and reporting inconsistencies. In many jurisdictions, additional improvements in data availabilit granularity will be essential for authorities to be able to adequately capture the magnitude and nature of risks in the shadow banking system. In particular, jurisdictions that lack official Flow of Fund statistics are encouraged to develop them. 4 Jurisdictions are also encouraged devote additional resources to the development of more granular data on interconnectedness between the banking and the shadow banking system, and to the development of risk data Future monitoring reports will continue to cast the net wide by tracking the MUNFi estimate of all non-bank financial intermediation, in addition to further improving the narrow measure of shadow banking. The implementation of policy recommendations to address financial stability risks in securities financing transactions, in particular the global securities financing data collection initiative by the FSB, will also improve the coverage and granularity of the monitoring exercise. In this regard, the FSB will look to expand the data collection in future monitoring exercises to include outstanding securities finance transactions. Further encouragement of RCGs to undertake similar monitoring exercises and greater coordination with such regional monitoring initiatives will also be explored 14 Those that have large residuals for the OFI or other financial sector in the Flow of Funds reporting are also encouraged to FSB: Standards and Processes for Global Securities Financing Data Collection and aggregation, Consultative document. 13nOvember2014,seehttp://w tent/uploads/Gl T-Data-Standards-C Document. pdf5 Data collection was expanded to include credit assets and lending of selected categories of financial entities. Section 5 analyses non-bank lending and credit intermediation trends to assess the sources and extent of incremental credit to the economy. This year’s report also includes a summary of the second regional study on shadow banking prepared by the RCG for the Americas and a country case study from Ireland of its shadow banking system. Going forward, the monitoring exercise will continue to benefit from further improvement and thorough follow-up by jurisdictions to address identified data gaps and reporting inconsistencies. In many jurisdictions, additional improvements in data availability and granularity will be essential for authorities to be able to adequately capture the magnitude and nature of risks in the shadow banking system. In particular, jurisdictions that lack official Flow of Fund statistics are encouraged to develop them. 14 Jurisdictions are also encouraged to devote additional resources to the development of more granular data on interconnectedness between the banking and the shadow banking system, and to the development of risk data. Future monitoring reports will continue to cast the net wide by tracking the MUNFI estimate of all non-bank financial intermediation, in addition to further improving the narrow measure of shadow banking. The implementation of policy recommendations to address financial stability risks in securities financing transactions, in particular the global securities financing data collection initiative by the FSB,15 will also improve the coverage and granularity of the monitoring exercise. In this regard, the FSB will look to expand the data collection in future monitoring exercises to include outstanding securities finance transactions. Further encouragement of RCGs to undertake similar monitoring exercises and greater coordination with such regional monitoring initiatives will also be explored. 14 Those that have large residuals for the OFI or other financial sector in the Flow of Funds reporting are also encouraged to improve granularity. 15 FSB: Standards and Processes for Global Securities Financing Data Collection and Aggregation, Consultative Document, 13 November 2014, see: http://www.fsb.org/wp-content/uploads/Global-SFT-Data-Standards-Consultative￾Document.pdf