If systemic risk
is manifested as asymptotic tail dependence in stock returns, and if our MES and [DELTA]CoVaR tests reliably identify tail dependence, then a lot of firms are sources of systemic risk
Specifically, the authors seek to determine whether insurers (banks) pose a statistically or economically significant source of systemic risks
to banks (insurers).
Increased coordination and cooperation among regulators, under the auspices of the council where appropriate, should serve not only to improve our management of systemic risk
, but also [to] reduce the extent of duplicative, inconsistent, or ineffective rulemakings.
Part II of this Note provides an overview of systemic risk
. (13) Part III examines the current limitations of the Federal Reserve's Explicit Considerations of Interconnectedness in Financial Stability Analysis Under the BHCA.
The theoretical literature on macroeconomic and political uncertainty provides a conceptual background for systemic risk
. It builds on the Knightian distinction between uncertain and risky outcomes.
Such a correlation also has high application values for studying systemic risk
But decades of financial problems, from the debacle at Long-Term Capital Management in 1998 to the problems with Bear Stearns, Lehman Brothers, and AIG in 2008, have shifted the focus from mere size to a broader notion of systemic risk
. Regulators around the world now consider other measures of systemic importance in addition to size, such as complexity and interconnectedness.
The Fiscal Council said the government decision to increase the compensation to provident funds that lost money in the 2013 banking crisis may be a precedent that could encourage other groups to make similar demands and increase the systemic risk
After the financial crisis of 2008, systemic risk
's popularity surged as academics raced to explain its inner workings, this transgressed the usual academic segregation and materialised in widespread interdisciplinary attention.
ISLAMABAD -- The State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) have signed a letter of understanding (LOU) to establish the Council of Regulators to mitigate systemic risk
KARACHI -- The State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP) on Friday signed a Letter of Understanding (LoU) to establish a Council of Regulators to mitigate systemic risk
And there is a rapidly growing literature on bank network models and systemic risk