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Is financial stability enhanced or weakened by competition? This proceedings addresses the link between concentration and competition in the financial sector. It includes reports from Australia, Bulgaria, Chile, Egypt, the European Commission, Finland, Germany, Greece, Hungary, Ireland, Italy, Japan, Korea, the Netherlands, the Russian Federation, South Africa, Switzerland, Chinese Taipei, Turkey, the United Kingdom, the United
Read about OECD efforts to help governments improve the domestic and global policies that affect business and markets in the wake of the global economic crisis.
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This paper shows that most sovereign debt is held on the banking books of banks, whereas the EU stress test considered only their small trading book exposures. It discusses why sovereign debt held in the banking book cannot be ignored by investors and creditors, because of recovery values in the event of individual bank failures; and fiscal sustainability and structural competitiveness issues which mean the market cannot give a zero
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This paper discusses the impact of the crisis on defined benefit (DB) pension schemes and the temporary responses taken by regulators to help ease financially strained plan sponsors. It presents suggestions to governments and policy makers for making funding regulations more counter-cyclical in nature. Such measures could strengthen the security of DB benefits and help to maintain DB plans for future workers.
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Government-guaranteed bank bonds have been an effective tool in avoiding the worst during the financial crisis. However, the pricing of the guarantees has created competitive distortions and the continued availability of such guarantees into 2010 may have reduced the pressure on some banks to address their weaknesses.
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While pension funds have strengthened with the financial market rebound, OECD data show that pension fund assets in most countries have yet to recover to pre-crisis levels. Public pension reserve funds, however, have now fully made up for their crisis-related losses due to more conservative investment strategies.
While pension funds have strengthened with the financial market rebound, OECD data show that pension fund assets in most countries have yet to recover to pre-crisis levels. Public pension reserve funds, however, have now fully made for their crisis-related losses due to more conservative investment strategies.
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This paper assesses the relative performance of different investment strategies for different structures of the payout phase.
Discussions at this high-level event focused on financial literacy, behavioural economics and financial education and the importance of financial education in defined contribution pension schemes.
Working Paper: "Assessing Default Investment Strategies in Defined Contribution Pension Plans". Future retirees can expect dramatic fluctuations in fortunes between members of a cohort unless they adopt investment strategies that reduce the impact of market shocks. Similar strategies should also become the default for individuals who make no active investment choice.