According to the Financial Stability Board, the august body that makes recommendations to the global financial system from Basel, Switzerland, «other financial intermediaries» — the category that includes non-bank lenders but not insurance companies and pension funds — increased their assets to $ 80 trillion, or 23 percent
of total financial assets, in 2014.
Yet, BOJ holdings are small compared to
total financial assets.
For instance, household equity as a percentage of
total financial assets has reached its second highest level ever (36.3 %).
«We have an undesirably large sum in cash at the moment, nearly a third of
our total financial assets.
Or, the total sum of debts — in this case student loans — surpasses a person's
total financial assets.
The portfolio above comprises roughly 17 % of
our total financial assets.
The world's
total financial assets is around 10 quadrillion yen, and Bitcoin is only just about 0.1 % of that, which seems way too small if we assume the use of bitcoin spreads.
Over that same time period, the ratio of
total financial assets to GDP in the United States more than doubled from five to ten.