Reports


  • 18-February-2010

    English, , 132kb

    Private Pensions and the Financial Crisis: How to Ensure Adequate Retirement Income from DC Pension Plans

    The current economic and financial crisis has shaken confidence in funded pension systems in general and in defined contribution (DC) pension plans in particular. The crisis has highlighted the impact of market conditions on retirement savings accumulated in DC pension plans and the uncertainty as to whether those retirement savings may prove adequate to finance retirement – particularly for those close to retirement. The purpose of

  • 8-February-2010

    English, , 699kb

    The financial industry and challenges related to post-crises exit strategies

    Financial markets have recovered substantially but vulnerabilities remain significant. Ample liquidity may lead to new bubbles, particularly in some emerging markets, and uncertainties about governments’ exit strategies and regulatory changes weigh on a fledgling upswing. Co-ordination and communication of exit policies will be important, and exit from policy stimulus should not be precipitated at the current juncture. While financial

  • 8-January-2010

    English, , 467kb

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

    Contagion risk and counterparty failure have been the main hallmarks of the current crisis. While some large diversified banks that focused mainly on commercial banking survived very well, others suffered crippling losses. Sound corporate governance and strong risk-management culture should enable banks to avoid excessive leverage and risk taking. The question is whether there is a better way, via leverage rules or rules on the

  • 8-January-2010

    English, , 976kb

    Current and Structural Developments in the Financial Systems of OECD Enhanced Engagement Countries

    This paper discusses the financial systems of OECD Enhanced Engagement Countries (EE5: Brazil, China, India, Indonesia, and South Africa). Rather than providing a comprehensive survey of each financial system, it is designed to highlight some of the salient features of EE5 financial systems, emphasising those aspects of the system that these countries have in common and those that are different from those in OECD countries. While

  • 8-January-2010

    English, , 191kb

    Regulatory Issues related to Financial Innovation

    This note explores various regulatory issues related to financial innovation. It starts from a premise that financial innovations are neither always helpful (or benign) nor always threatening. Innovations have the potential to provide for a more efficient allocation of resources and thereby a higher level of capital productivity and economic growth. Many financial innovations have had this effect. But others have not. Examples of the

  • 7-January-2010

    English, , 538kb

    OECD Sovereign Borrowing Outlook 2009: Revised estimates for 2009 and 2010

    OECD governments are facing ongoing, unprecedented challenges in raising large volumes of funds at lowest possible cost, while balancing refinancing, repricing and interest rate risks. Gross borrowing needs of OECD governments are expected to reach almost USD 16 trillion in 2009, up from an earlier estimate of around USD 12 trillion. The tentative outlook for 2010 shows a stabilising borrowing picture at around the level of USD 16

  • 7-January-2010

    English, , 180kb

    Responding to the crisis: Changes in OECD primary market procedures and portfolio risk management

    Tougher issuance conditions related to the surge in government borrowing needs are the reasons why issuance arrangements have not always been working as efficiently as before the crisis. This prompted debt management offices (DMOs) in the OECD area to review existing issuance policies and procedures. The crisis also had an impact on the use of indicators or guidelines relating to the key risks of the maturity structure of issuance or

  • 19-November-2009

    English, , 755kb

    Expanded Guarantees for Banks: Benefits, Costs and Exit Issues

    This article argues that the expansion of existing and the introduction of new guarantees for financial institutions has been a key element of the policy response to the recent financial crisis. Essentially, the government expanded its role as the provider of the safety net for banks by adopting the function of a guarantor of last resort. Among the various policy response measures, the expansion of guarantees has the benefit of

  • 27-October-2009

    English, , 438kb

    Insurance Companies and the Financial Crisis

    The paper 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. The paper is part of a special report on the financial crisis and private pensions and insurance policies which will form part of the “OECD Strategic Response to the Crisis” and it provides a framework for the analysis in that report.

  • 12-October-2009

    English

    The Financial Crisis: Reform and Exit Strategies

    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.

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