ERM Developments and Opportunities [11]

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Bullet points include: Politicians and regulators worry about systemic risk: System-wide impact of the recent financial crisis and maybe also note that political revolutions have often been triggered by financial crises. They are increasingly sceptical about different components of the financial sector being inherently different when it comes to potential to create, amplify or transmit systemic risk. Problems during the crisis included: Lehman, Freddie Mac, Fannie Mae but also AIG, money market funds and shadow banks. Some firms now deemed global systemically important financial institutions (G-SIFIs), including both banks (G-SIBs) and insurers (G-SIIs). Financial Stability Board has been consulting on including others, i.e. non-bank non-insurer (NBNI) G-SIFIs, see FSB (2014)

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