of the risk distribution. This measure is estimated and indicates better diversification benefits for conglomerates …We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and … insurers differs, an interesting question from a supervisory point of view is the risk reduction that derives from …

The COVID-19 crisis raises the risk of renewed financial sector pressures in the Caucasus and Central Asia (CCA) region … in the period ahead. Bank distress and its economic and fiscal fallout have been recurring features of many CCA countries …