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Systemic Risk, Pension Funds, Insurers, Asset Managers [15]

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Bullet points include: Insurers: Traditional insurance is not systemically important As little (direct) interconnection with each other or with banks. However NTNI activities (as per AIG and monoline credit insurers?) can create greater interconnectivity (as can e.g. banking subsidiaries). Pension funds (in UK): No desire to be considered even akin to insurers let alone other parts of financial system. Part of real economy not the financial sector. Or at most so obliquely linked with (banking) sector that systemic risk not relevant to (private sector) pension funds. Sufferers rather than creators of systemic risk

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