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The sensitivity of secondary sovereign loan market returns to three classes of economic news is estimated in the arbitrage pricing theory framework. Returns are characterized by a limited response to unexpected changes in procyclical U.S. aggregates. Shocks to country-specific balance of payment...
Persistent link: https://www.econbiz.de/10014396212
This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surprises in external emerging bond markets are found to a¤ect both conditional...
Persistent link: https://www.econbiz.de/10014404285
Analyses of debt relief that focus on the behavior of debtors and existing creditors understate the incentives for collective action by creditors. It is well known that debt relief could benefit existing creditors by providing incentives for domestic investment by residents of debtor countries....
Persistent link: https://www.econbiz.de/10014396061
settlement systems in India is prudent. The operational reliability is high, and the regulation and oversight functions are … India. The results indicate that, in general, the risk management framework for the securities and derivatives clearing and … effective. The National Payments System in India has undergone a major reform, in particular the securities and derivatives …
Persistent link: https://www.econbiz.de/10011244082
This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the...
Persistent link: https://www.econbiz.de/10012647142
The Financial Sector Assessment Program (FSAP) is a central instrument for the Fund and Bank to promote financial sector soundness in member countries. The FSAP uses quantitative analysis and qualitative tools to help identify the risks and vulnerabilities of a country's financial system,...
Persistent link: https://www.econbiz.de/10014410398
This paper reviews Financial Sector Regulation and Supervision for Turks and Caicos Islands (TCI). The TCI has a …
Persistent link: https://www.econbiz.de/10014405884
The British Virgin Islands (BVI) has most of the essential elements for a suitable framework for financial supervision. There is a weakness with respect to onsite supervision of banking, insurance, and securities sectors; and there is currently no regular and comprehensive examination and...
Persistent link: https://www.econbiz.de/10014406094
This paper focuses on key findings of the detailed assessment of observance of standards and codes in the financial sector of the Cook Islands (CI). The new legal framework in CI represents an important first step in correcting deficiencies, as they are all addressed in the new set of laws. The...
Persistent link: https://www.econbiz.de/10014406116
. It is shown that such ""regulatory capture"" in banking does not imply ineffectual regulation; a ""captured"" regulator …
Persistent link: https://www.econbiz.de/10014400538