Move towards Systemic Risk council for Europe

The role of a such a body would be to monitor and assess risks to the stability of the European financial system. The idea is to provide an early warning system for future crises

Europe’s top thirty insurance groups are going to be submitted to a financial stress test next year, according to a statement by Thomas Steffen, chairman of the Committee of European Insurance and Occupation Pensions Supervisors (CEIOPS). Mr. Steffen is also the chief executive of the insurance supervision unit at Gemany’s financial regulator, Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin). The measure appears to be precautionary.