credit union感觉风险最高

问题如下：

Judith Yoo is a financial sector analyst writing an industry report. In the report, Yoo discusses the relative global systemic risk across industries, referencing Industry A (international property and casualty insurance), Industry B (credit unions), and Industry C (global commercial banks).

Which of the following industries most likely has the highest level of global systemic risk?

选项：

A.

Industry A

B.

Industry B

C.

Industry C

解释：

C is correct.

Industry C, representing global commercial banks, most likely has the highest level of global systemic risk because global commercial banks have the highest proportion of cross- border business.

Unlike banks, the overall insurance market (of which Industry A is a subset) has a smaller proportion of cross- border business, and insurance companies’ foreign branches are generally required to hold assets in a jurisdiction that are adequate to cover the related policy liabilities in that jurisdiction.

As an international property and casualty (P&C) insurer, Company A provides protection against adverse events related to autos, homes, or commercial activities; many of these events have local, rather than international, impact.

Industry B, credit unions, most likely has the lowest level of global systemic risk. Credit unions are depository institutions that function like banks and offer many of the same services, but they are owned by their members rather than being publicly traded as many banks are.