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While neither the legal nor institutional framework in Germany were adequate for dealing with stressed banks in the recent financial crisis, the newly established Federal Agency for Financial Market Stabilisation fills that gap. Initially focusing on rescuing banks, that agency now focuses on restructuring them.
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The macro-prudential authority is being adopted by monetary policy authorities as a means to limit systemic financial risks in the light of weaknesses revealed by the crisis. This article outlines the powers, scope and accountability that should characterise the macro-prudential authority.
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The financial crisis exposed serious flaws in the European framework for cross-border banking, including deposit insurance. Iceland’s experience shows that sizeable cross-border banking operations in small countries with their own currency come with very significant risks.
In the wake of the 2010 earthquake, this paper considers policy options for expanding the proportion of future Chilean earthquake losses that would be covered via new and expanded risk transfer mechanisms.
These reports describe the main features of the financial, and insurance and private pensions markets of countries that have recently joined the OECD.
These reports describe the main features of the financial markets of countries that have recently joined the OECD.
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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.