Conglomerates face higher risks than banks – ECB’s Tuominen
Shocks could have outsize impacts on institutions offering both banking and insurance, supervisor says
Shocks might materialise more intensely for conglomerates offering multiple kinds of financial services than for those that only carry out banking activities, a member of the European Central Bank’s supervisory board has said.
In a speech to the Pan-European Conglomerate Club in Helsinki today (June 5), Anneli Tuominen outlined how financial conglomerates – firms combining banking, insurance and sometimes investment services under one roof – faced different risks than banks “on account of their
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