At the end of April 2010, the International Accounting Standards Board (IASB) published an exposure draft with proposed changes to International Accounting Standard No. 19 (IAS 19). If enacted, the changes to IAS 19 proposed by the IASB are expected to have a significant impact on company financials on a global basis.
The OECD and IOPS invited comments on the draft OECD/IOPS Good Practices for Pension Funds’ Risk Management Systems between 5 July and 3 September 2010. These draft good practices aim to outline the main features of risk management systems which pension funds employ.
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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.