diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based …We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and … of the risk distribution. This measure is estimated and indicates better diversification benefits for conglomerates …

crisis on banks and insurers. We examine the systemic interdependencies within and across the European banking and insurance … comparison with banks, the interdependency across the two sectors turns out to be considerably lower. This suggests that downside …

diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based …We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and … of the risk distribution. This measure is estimated and indicates better diversification benefits for conglomerates …

diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based …We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and … of the risk distribution. This measure is estimated and indicates better diversification benefits for conglomerates …

diversification within large banks and financial conglomerates. We discuss the limited value of the normal distribution based …We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and … of the risk distribution. This measure is estimated and indicates better diversification benefits for conglomerates …

(NMS) are highly dependent on a few West-European banks and thus vulnerable to contagion effects. The Nordic and Baltic … regions are also much interwoven without much diversification. At the system-wide level, the EU banking system is weakly … financial crisis had such a large impact on European banks. …

(NMS) are highly dependent on a few West-European banks and thus vulnerable to contagion effects. The Nordic and Baltic … regions are also much interwoven without much diversification. At the system-wide level, the EU banking system is weakly … financial crisis had such a large impact on European banks. …

backstop in the Banking Union. All these functions deal with the soundness of individual banks. In the run-up to the 2007 … individual banks (micro), while losing sight of emerging imbalances in the wider financial system (macro). …

Greece). But data at the individual firm level for banks and insurers indicate that cross-border activities remain persuasive …