TAILIEUCHUNG - Financial Sector Taxation by European Commission

However, even prior to the current nancial crisis, the identi cation of the probability and impact of shocks to the nancial system was assuming centre-stage in policy debate. Some policy institutions, for example, attempted to articulate the probability and impact of key risks to the nancial system in their Financial Stability Reports. 4 Moreover, the complexity of nancial systems means that policymakers have only partial information about the true linkages between nancial intermediaries. Given the speed with which shocks propagate, there is, therefore, a need to develop tools that facilitate analysis of the transmission of shocks through a given, but arbitrary, network structure. Recent events in the global nancial system. | Taxation papers Financial sector taxation European Commission bxation papers Taxation papers Taxation papers Ta ers r Taxation paper Taxation papers Taxation papers papers i Taxation papers Taxation papers axation papers ỊỆRSpaộèrS n papers Taxation papers Taxation pa s Taxation papers Taxation papers ers Taxation papers ation papers Taxation papers Taxation s Taxation papers Taxation papers Taxation papers Taxp. Taxation papers Taxation papers papers Taxation papers Tat Taxation papers axation papers ion papers Ĩ n papers Taxation papers Taxation paper s Taxation papers Ta Taxation papers xation papers Taxation papers Taxation pan Taxation papers I papers WORKING PAPER 2010 Taxation Papers are written by the staff of the European Commission s Directorate-General for Taxation and Customs Union or by experts working in association with them. Taxation Papers are intended to increase awareness of the work being done by the staff and to seek comments and suggestions for further analyses. The views expressed in the Taxation Papers are solely those of the authors and do not necessarily reflect the views of the European Commission. Comments and inquiries should be addressed to TAXUD TAXATION-PAPERS@ Cover photo made by Milan Pein Despite all our efforts we have not yet succeeded in identifying the authors and rights holders for some of the images. If you believe that you may be a rights holder we invite you to contact the Central Audiovisual Library of the European Commission. This paper is available in English only. Europe Direct is a service to help you find answers to your questions about the European Union Freephone number 00 800 6 7 8 9 10 11 A great deal of additional information on the European Union is available on the Internet. It can be accessed through EUROPA at http . For information on EU tax policy visit the European Commission s website at http taxation_customs taxation Do you want to remain informed of .

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