English, , 446kb
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
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.
English, , 1,911kb
The failing firm defence (FFD) has arisen infrequently in merger cases but is expected to be used more frequently in the current economic climate. The FFD exists in most OECD jurisdictions and exempts an otherwise anticompetitive merger from challenge under the competition laws if the target company is in such poor financial condition that its only other option would be to exit the relevant market. This proceedings includes elements
Le suivi de l’application par les pays de la Convention de l’OCDE sur la lutte contre la corruption constitue une obligation prévue par la Convention. Cette page décrit les aspects généraux du suivi sur lesquels s’est accordé le Groupe de travail sur la corruption.
English, , 536kb
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.
Selon un nouveau rapport du Groupe de travail sur la corruption de l’OCDE, l’Afrique du Sud doit intensifier ses efforts de détection, d’investigation et de poursuites des faits de corruption dans les transactions commerciales internationales.
English, , 749kb
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.
The journal is a unique resource for competition experts. It provides insight into the thinking of competition law enforcers while focusing on the pratical application of competition law and policy.
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.
English, , 781kb
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.