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These articles were prepared for a symposium on bank failure resolution and crisis management which focused, in particular, on the use of guarantees and the spill-overs between the credit qualities of sovereigns and banking systems.
This symposium proceedings examines three aspects of financial education: monitoring and evaluation, use of behavioral economics, and financial literacy and defined contribution pension plans.
Policy actions proposed in this paper are based on initial OECD research undertaken and are intended to generate debate and discussion. As part of the OECD project “Institutional Investors and Long Term Investment” further research is planned on these topics . Ultimate goal of the project is to provide a set of final policy recommendations to be adopted by governments and interested parties.
At this Financial Regulation Session of the G20 Leaders Summit, M. Gurría spoke of 'a comprehensive reform of the international financial architecture that should include financial inclusion, protection and education'.
This financial literary conference will focus on designing and establishing effective financial education initiatives to support and protect consumers.
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 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