Where insurance undertakings are subsidiaries of an EU or international group, prudential supervision is carried out where the subsidiary is located with co-operation through colleges of supervisors each chaired by the supervisory authority of the group.
SPEECH  Challenges for monetary policy Remarks by Luis de Guindos, Vice-President of the ECB, at the Frankfurt Euro Finance Summit Frankfurt am Main, 4 July 2022 Having participated in the previous two summits, it is a great pleasure to speak with you again this year. In my remarks today, I will first discuss the economic outlook for the euro area.