For instance, Insurers may decide to stop holding certain asset classes. The sale of assets into a falling market could amplify the initial fall in asset prices. By doing so, the insurance sector could reinforce or pass on shocks to the rest of the financial system as well as to the real economy.
Yannis Stournaras: Greeting - 5th Simulation Conference of the European Central Bank Greeting by Mr Yannis Stournaras, Governor of the Bank of Greece, at the 5th Simulation Conference of the European Central Bank, 10 December 2021. * * * It is a great pleasure for me to be here today to greet the opening of the fifth European Central Bank Simulation Conference.