The supervision of mixed financial services groups in Europe

Bericht

Over time, the banking, insurance and securities sectors have become increasingly interlinked and one way through which this occurs is via financial conglomerates. Such groups, in particular those that combine banking and insurance, have over time become more important in Europe. They require an appropriate regulatory and supervisory set-up to deal with the specific risks they raise. In the EU, this regulatory set-up was introduced with the Financial Conglomerates Directive (2002) and which Member States are now implementing into national law. The Directive introduces a regime of supplementary supervision, in addition to the one that already exists for the regulated entities of the conglomerate. The Directive covers areas such a capital requirements, intra-group transactions, large exposures, organisational requirements and information exchange between authorities. The paper further compares the regime in the US and the EU. It concludes with issues that might require attention from authorities in the future.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ECB Occasional Paper ; No. 20

Classification and Topics

• Classification: Wirtschaft
• Subject: cross-sector risk ; European Union ; financial conglomerate ; financial regulation ; financial supervision. ; Finanzdienstleistung ; Bankenaufsicht ; EU-Staaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Dierick, Frank
• Event: Veröffentlichung
• (who): European Central Bank (ECB)
• (where): Frankfurt a. M.
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/154473
• Last update: 10.03.2025, 11:43 AM CET