Financial services policy, Risk Management

Assignment Help:

On successful completion of FSAP, the EC concluded that the EU FS industry still had strong untapped economic and employment growth potential. As a result, the White Paper on Financial Services Policy 2005-2010 published in December 2005 outlined five priorities:

1. Dynamically consolidate progress and ensure sound implementation and enforcement of existing rules

2. Drive through the better regulation principles into all policy making

3. Enhance supervisory convergence

4. Create more competition between service providers, especially those active in retail markets

5. Expand the EU's external influence in globalizing capital markets and indicate that obligations to cooperate and exchange information between supervisors had to be reinforced.

Therefore, before the financial crisis, the EU was attempting to create an integrated, Europe-wide, single market in FS underpinned by a strong regulatory and supervisory framework. Europe became a key player in global FS that is, banking, insurance and securities, along with the US and Japan. In terms of bank assets the EU holds over 50% of the world's assets, with Asia as a group holding around 14% while in relation to insurance, the two outstanding originators of global insurance premiums are the EU and US, each accounting for a third of global premium volume: the EU also contributed 27% to stock market capitalization and 34% to debt securities in 2006/2007.2


Related Discussions:- Financial services policy

Stress testing, How do you carry out stress testing in a mortgage banking i...

How do you carry out stress testing in a mortgage banking institution?

Display screen equipment risk assessment, Question 1: (a) Describe the ...

Question 1: (a) Describe the aspects that should be considered when assessing the fit between a person and his work. (b) Display Screen Equipment (DSE) risk assessment shoul

Draw the risk management control cycle, Question 1: Define the followin...

Question 1: Define the following terms: (a) Whole life assurance (b) Immediate annuity (c) Market Liquidity Risk (d) With-pro

Business swap, explain the risk involves in swap business

explain the risk involves in swap business

What is the objective of risk management, Question: (a) What is the obj...

Question: (a) What is the objective of risk management? (b) Define the term risk avoidance. (c) Define and describe the Methodology of process approach in ISO 9000. (d

Risk assessment - portfolio management, 1. You are given the following long...

1. You are given the following long-run annual rates of return for alternative investment instruments: US Government T-Bills 3.5% Large-cap common stocks 12.1% Long-

Disaster recovery plan, Devise a disaster recovery plan • Business Impact A...

Devise a disaster recovery plan • Business Impact Analysis • Treatment Strategies: o Risk Avoidance o Risk Reduction o Risk Transfer o Risk Retention • Ingredients of a disaster re

#title, DQ #1: How has fair value accounting challenged leveraged instrumen...

DQ #1: How has fair value accounting challenged leveraged instruments? DQ #2: What are the fair value standards that need to be followed in the U.S. under GAAP and international

Explain the use of hani-raafat risk calculator, Question 1: (i) Descri...

Question 1: (i) Describe five steps to risk assessment for work-related driving activities. (ii) List ten important points which employers should consider to ensure that wo

Risk neutral approach, First's current stock price is $260. The price may r...

First's current stock price is $260. The price may rise to $300 or fall to $170 in one month. The risk-free interest rate is 18% per year. a. Using the replication portfolio app

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd