 Insuring the Financial System against Insurers: A Macroprudential FrameworkAerdt Houben and Hanne Voorden Chapter 3 in Macroprudential Supervision in Insurance, 2014, pp 66-84 from Palgrave Macmillan Abstract: Abstract The recent global financial crisis brought numerous financial institutions to the brink of collapse and led authorities to take far-reaching measures to safeguard financial stability. The causes of the crisis have been extensively analysed and lessons have been drawn. One lesson stands out: the need to strengthen the supervision of the financial system as a whole, from a macroprudential perspective. As a complement to microprudential supervision, such a perspective considers potential systemic interactions between the individual institution and the broader financial system. This lesson is of particular relevance for the banking sector, as banks are more likely to be considered systemically important than insurers. By nature, banks are highly interconnected through the interbank money market, play a pivotal role in the payment system and are exposed to liquidity risk. Nevertheless, contagion channels also exist between the insurance sector and other parts of the financial system, both in theory and practice. Keywords: Financial System; Systemic Risk; Pension Fund; Financial Stability; Insurance Sector (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43910-9_4 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.