Financial Markets, Insurance and Pensions

OECD work on financial markets aims to promote efficient, open, stable and sound market-oriented financial systems, based on high levels of transparency, confidence, and integrity. It also monitors and surveys structural changes and reform measures in insurance and private pensions. Permanent url: www.oecd.org/daf/fin

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OECD supports the Spanish government’s pension reform proposal

02-Feb-2010

The Spanish government announced on Friday 29th of January, its intention of postponing the retirement age from 65 to 67 and to increase the number of contribution years  used to calculate pension benefits. The OECD believes that these measures are important steps in the right direction. (Leer en espanol)

La OCDE apoya la reciente propuesta gubernamental para reformar el sistema de pensiones

02-Feb-2010

El gobierno español anunció el viernes pasado su intención de elevar la edad oficial de jubilación de 65 a 67 años, y de aumentar el numero de años necesario para calcular la pensión. La OCDE considera muy positivas dichas medidas.

US: Obama plan for banks can help to avoid a new financial crisis

25-Jan-2010

U.S. President Barack Obama’s plans for financial reform could help to avoid a new financial crisis by resolving some major risks inherent to the current financial system, according to OECD Secretary-General Angel Gurría.

The Elephant in the Room: The Need to Deal with What Banks Do

08-Jan-2010

A fundamental reassessment of banks’ business models is needed to properly address contagion risk and counterparty failure that have been the main hallmarks of the current crisis. This is ‘the elephant in the room’ that most policy makers and bankers are trying to ignore. The issue of ‘too big to fail’ is less an issue of size and more a question of what banks actually do. The paper explains why a firewalled non-operating holding company structure is an essential complement to the imposition of leverage ratio if contagion and counterparty risk are to be contained in financial conglomerates.

Responding to the crisis: OECD governments are coping with exploding borrowing needs

07-Jan-2010

Most OECD governments are facing a surge in budget deficits, borrowing needs and debt. A new article (The Surge in Borrowing Needs of OECD Governments ) projects that gross borrowing needs of OECD governments are expected to reach around  USD 16 trillion in 2009 and 2010. An accompanying article (Changes in OECD Primary Market Procedures and Portfolio Risk Management ) shows that tougher issuance conditions prompted debt management offices to review existing issuance procedures and the use of indicators relating to the key risks of the maturity structure.

Journal of Pension Economics and Finance enters new phase

08-Dec-2009

The Journal of Pension Economics and Finance (JPEF), the only academic journal focusing on the economics and finance of pensions and retirement income programs, announces a new editorial structure and a broadening of its mission effective January 2010. Since 2002, the JPEF has provided an invaluable and influential forum for original research and international policy debate in the pensions area.

OECD sets out framework for overhaul of financial regulation

03-Dec-2009

The OECD has established a set of key principles to guide financial policy makers as they look to fundamental reform that will achieve strong, resilient financial systems that play their part in driving economic growth. 

Private Pensions and Policy Responses to the Crisis

23-Jun-2009

This report describes why occupational pensions play a major role in OECD countries and worldwide, complementing retirement income from state sources. Their financial importance is highlighted by the volume of assets they manage on behalf of plan members, USD 22 trillion at the end of 2008. Population ageing has also led many OECD countries to undertake a wide range of pension reforms – the overall effect of which has been to reduce public pension promises and in turn to increase the importance of private pension savings for retirement.

Expanded Guarantees for Banks: Benefits, Costs and Exit Issues

19-Nov-2009

This article provides an overview of the guarantees that have been expanded and/or introduced as part of the policy packages implemented in response to the recent financial crisis and discusses the costs and benefits of this expansion, as well as issues related to the exit from “unusual” types or levels of guarantees.

Insurance companies and the financial crisis

27-Oct-2009

This article discusses vulnerabilities in selected segments of the insurance sector and identifies specific issues related to the role of the insurance sector in the current financial crisis.

Pension Funds Recovering in 2009, says OECD

26-Oct-2009

Pension funds staged a partial recovery in the first half of 2009, generating investment returns of 3.5% in nominal terms. But, as of 30 June 2009, total pension funds assets still remained 14% below their December 2007 levels, according to the latest edition of OECD Pensions Markets in Focus.

Private pensions need long-term, appropriate performance benchmarks

19-Oct-2009

The OECD and the World Bank today announced the preliminary results of their project evaluating the financial performance of pension funds around the world.

The project aims to examine how to measure financial performance of pension funds taking into account the link between participants’ benefits to the performance of financial markets.

The Financial Crisis: Reform and Exit Strategies

17-Sep-2009

The financial crisis required governments to make massive interventions in their financial systems. This book sets out priorities for reforming incentives in financial markets as well as for phasing out these emergency measures.

Financing retirement and healthcare in a rapidly ageing world

02-Sep-2009

Demographic trends challenge the financial sustainability of pay-as-you-go pension and healthcare systems, as well as capital-funded systems and risk undermining access and quality. Published by the World Economic Forum, with the support of the OECD and Mercer, this report highlights options to better cater for changing retirement and healthcare expectations.

Financial Market Trends No.97

27-Jan-2010

This edition focuses on exit and post-financial crisis issues in financial markets, the surge in borrowing needs of OECD governments, changes in OECD primary market procedures and portfolio risk management and effective and financial systems and regulation in emerging markets.

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