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This speech discusses policy responses to financial crises, with a particular focus on the US experience with government intervention during the 2008-09 financial crisis. It also reflects on the possibilities for conducting crisis management without financial guarantees.
This financial literary conference will focus on designing and establishing effective financial education initiatives to support and protect consumers.
This meeting focused on pension industry developments in South Africa and in the Africa region, the coverage and adequacy of pension systems and using pension savings for long term investment and economic development.
G20 finance ministers have agreed new principles on financial consumer protection developed by the OECD. “Without consumer trust and confidence we could jeopardise the basis for global economic recovery and growth,” said OECD Secretary-General Angel Gurría.
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This new document, developed by the OECD International Network on Financial Education (INFE), provides national authorities and other interested bodies with a core questionnaire that can be used to survey levels of financial literacy and detailed guidance on how to implement such a survey.
The ongoing crisis illustrates all too well the importance of trust and confidence for the proper functioning of our financial systems and, in turn, our economies. Consumers are at the heart of the system. They should feel capable, knowledgeable, safe and secure in their dealings with financial services providers and their intermediaries, said Angel Gurría.
This symposium focused on bank failure resolution and crisis management, in particular, the use of guarantees and the spill-overs between the credit qualities of sovereigns and banking systems.
This report analyses the possible implications for public debt management practices arising from regulatory changes for over the counter derivatives (OTCD) that are being developed worldwide to strengthen the resiliency of the financial system. Many OECD sovereigns use OTCD in their debt management activities (mainly interest rate swaps and cross-currency swaps).
The Working Paper “The Role of Guarantees in Defined Contribution Pensions” argues that, while there is a clear need to better protect retirement income from financial market volatility, the costs and benefits of investment return guarantees should be carefully evaluated.
This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee claims are calculated as a financial derivative in a financial market framework (like e.g. the valuation of a put option). In this context, the