The report, which was published in June 2004, is the product of a working party set up by the Bank of Italy and ISVAP (supervisory authority for the insurance industry) to study the transfer of credit risk between the banking and insurance sectors.
The study looks at both traditional methods and the more innovative instruments, such as credit derivatives and securitization. A section also describes the volume of financial flows between the two sectors, in terms of direct equity investments, subordinated loans and other subscribed securities.
