IL RISK MANAGEMENT NEI NETWORK FINANZIARI

This thesis has the aim to study the propagation of risk in the financial network, especially for a financial conglomerate, a group of companies that provides significant services in at least two different financial sector. In order to understand the risk typology that affects the conglomerate thrift, the attention is focused both on the aggregate risk sources that attack the nature of a LFCI in the financial environment and the systemic risk that influences all market participants, considering the huge field in which a financial conglomerate acts and its implication with regulation and supervision. At the same time the way a conglomerate is managed, can increase the systemic risk in the network, intended as the default of one or a few large borrowers that endanger the whole financial system, because of the fact that a conglomerate collapse would disrupt a wider range of activities. In a paradoxical way a financial conglomerates is considered too big to fail or even if it is not ¿ too big¿, it may become too complex to fail.