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European Systemic Risk Board
The European Systemic Risk Board (''') is a group established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU. It shall contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth. The ESRB is a macro-prudential oversight body of the EU and it is part of the European System of Financial Supervision (ESFS), the purpose of which is to ensure the supervision of the EU's financial system. As a body lacking juridical personality, the ESRB relies on hosting and support by the European Central Bank. It includes representatives from the ECB, national central banks and supervisory authorities of EU member states, and the European Commission. Overview The operation of the board has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are located primarily in Europe, Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Risk
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent. A science has evolved around managing market and financial risk under the general title of modern portfolio theory initiated by Dr. Harry Markowitz in 1952 with his article, "Portfolio Selection". In modern portfolio theory, the variance (or standard deviation) of a portfolio is used as the definition of risk. Types According to Bender and Panz (2021), financial risks can be sorted into five different categories. In their study, they apply an algorithm-based framework and identify 193 single financial risk types, which are sorted into the five categories market risk, liquidity risk, credit risk, business risk and investment risk. Market risk The four standard market risk factors are eq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systemic Risk
In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to the risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system.Banking and currency crises and systemic risk George G. Kaufman (World Bank), It can be defined as "financial ''system'' instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries". It refers to the risks imposed by ''interlinkage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010 In The European Union
Events in the year 2010 in the European Union. 2010 was designated as the: * European Year for Combating Poverty & Social Exclusions Incumbents * President of the European Council – Herman Van Rompuy * Commission President – José Manuel Barroso * Council Presidency – (Jan–Jun 2010) and (Jul–Dec 2010) * Parliament President – Jerzy Buzek * High Representative – Catherine Ashton Events January * 1 January ** Spain takes over the Presidency of the Council of the European Union for the fourth time from Sweden. It is the first country to hold the presidency under the Lisbon Treaty and the new ‘trio presidency system’ that sees Spain work with the next two countries to hold the office, Belgium and Hungary. ** The Ruhr area (Germany), Pécs (Hungary) and Istanbul (Turkey) share the title of European Capital of Culture for 2010. * 11–19 January – European Parliament committees conduct a series of hearings with the 26 nominees for the next College of Euro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Sovereign-debt Crisis
The European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, is a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s. Several eurozone member states (Greece, Portugal, Ireland, Spain, and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF). The eurozone crisis was caused by a balance-of-payments crisis, which is a sudden stop of foreign capital into countries that had substantial deficits and were dependent on foreign lending. The crisis was worsened by the inability of states to resort to devaluation (reductions in the value of the national currency) due to having the Euro as a shared currency. Debt accumulation in some eurozone members was in part due t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Securities And Markets Authority
The European Securities and Markets Authority (ESMA) is an independent European Union Authority located in Paris. ESMA replaced the Committee of European Securities Regulators (CESR) on 1 January 2011. It is one of the three new European Supervisory Authorities set up within the European System of Financial Supervisors. __TOC__ Overview ESMA works in the field of securities legislation and regulation to improve the functioning of financial markets in Europe, strengthening investor protection and co-operation between national competent authorities. The idea behind ESMA is to establish an "EU-wide financial markets watchdog". One of its main tasks is to regulate credit rating agencies. In 2010 credit rating agencies were criticized for the lack of transparency in their assessments and for a possible conflict of interest. At the same time, the impact of the assigned ratings became significant for companies and banks but also states. In October 2017, ESMA organised its firs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Insurance And Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) is a European Union financial regulatory institution that replaced the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). It is established under EU Regulatio1094/2010 EIOPA is one of the three European Supervisory Authorities responsible for microprudential oversight at the European Union level, being part of the European System of Financial Supervision. Current chair is Petra Hielkema. History CEIOPS (2003–10) was established under the terms of European Commission's Decision 2004/6/EC of 5 November 2003, currently repealed and replaced by Decision 2009/79/EC, and is composed of high level representatives from the insurance and occupational pensions supervisory authorities of the European Union's Member States. The authorities of the European Economic Area Member States also participated in CEIOPS. CEIOPS Secretariat was located in Frankfurt am Main. CEIOPS was a Level-3 Committee o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Banking Authority
The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in Paris. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures. The EBA has the power to overrule national regulators if they fail to properly regulate their banks. The EBA is able to prevent regulatory arbitrage and should allow banks to compete fairly throughout the EU. The EBA will prevent a race to the bottom because banks established in jurisdictions with less regulation will no longer be at a competitive advantage compared to banks based in jurisdictions with more regulations as all banks will henceforth have to comply with the higher pan European standard. History The EBA was established on 1 January 2011, upon which date it inherited all of the tasks and responsibilities of the Committee of European Banking Supervisors (CEBS). In continuity with the C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Princeton University
Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the nine colonial colleges chartered before the American Revolution. It is one of the highest-ranked universities in the world. The institution moved to Newark in 1747, and then to the current site nine years later. It officially became a university in 1896 and was subsequently renamed Princeton University. It is a member of the Ivy League. The university is governed by the Trustees of Princeton University and has an endowment of $37.7 billion, the largest endowment per student in the United States. Princeton provides undergraduate and graduate instruction in the humanities, social sciences, natural sciences, and engineering to approximately 8,500 students on its main campus. It offers postgraduate degrees through the Princeton Sch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warwick Business School
Warwick Business School (WBS) is an academic department of the Faculty of Social Sciences of Warwick University, that was established in 1967 as the School of Industrial and Business Studies. The Business School offers undergraduate, postgraduate and PhD degree programs, and non-degree executive education for individuals and companies. The Warwick MBA is offered as a one-year full-time program, an Executive MBA and by distance learning (blended learning). WBS University of Warwick campus is on the border of the city of Coventry and the county of Warwickshire in a semi-rural green belt location. WBS London campus is located in The Shard Tower, one of the tallest buildings in Europe. Warwick graduates are active in business. In the automotive industry, this includes CEO of Aston Martin; Ralf Speth, CEO of Jaguar Land Rover; Linda Jackson, CEO of Citroën; Andy Palmer. Others include Bernardo Hees, CEO of the Heinz Company & former CEO of Burger King; Nigel Wilson. Histor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Copenhagen
The University of Copenhagen ( da, Københavns Universitet, KU) is a prestigious public university, public research university in Copenhagen, Copenhagen, Denmark. Founded in 1479, the University of Copenhagen is the second-oldest university in Scandinavia after Uppsala University, and ranks as one of the top universities in the Nordic countries, Europe and the world. Its establishment sanctioned by Pope Sixtus IV, the University of Copenhagen was founded by Christian I of Denmark as a Catholic teaching institution with a predominantly Theology, theological focus. In 1537, it was re-established by King Christian III as part of the Lutheran Reformation. Up until the 18th century, the university was primarily concerned with educating clergymen. Through various reforms in the 18th and 19th century, the University of Copenhagen was transformed into a modern, Secularism, secular university, with science and the humanities replacing theology as the main subjects studied and taught. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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