FSB has published the results of its third annual monitoring exercise of the shadow banking system. In addition to the macro-mapping based on flow of funds data, this year's report also includes a narrower measure that results from filtering out non-bank financial activities that have no direct relation to credit intermediation, self-securitisation and those activities that are already prudentially consolidated into banking groups. Given that real estate investment trusts (REITs) constitute one of the most rapidly growing shadow banking sub-sectors, next year's report will consider them in more detail. FSB also points out that shadow banking monitoring should be extended to offshore jurisdictions that are not members of FSB. (Source: Global Shadow Banking Monitoring Report 2013)