Trillions of dollars in lending happens outside anything called a bank

The shadow banking system is the web of hedge funds, money market funds, insurers and other non-bank firms that provide loans and bank-like services without being regulated as banks. By 2022, it held an estimated $63 trillion in assets globally, over three-quarters of world GDP, up from $28 trillion in 2009. Because these institutions can take on bank-like risks without the same capital requirements or deposit insurance, their rapid growth was a central factor in the 2008 financial crisis.

— Wikipedia contributors, Shadow Banking System — Global financial system