Technological innovations have led to the growth of the shadow banking system, whereby illiquid financial assets such as bank loans and mortgages are transformed into marketable securities. The global shadow banks have seen their assets grow to $52 trillion as of 2019, a 75% jump from the level in 2010, the year after the global financial crisis ended. a) How can shadow banking system escape bank regulation? (2 marks) b) Why is shadow banking posing a big risk to the financial system