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This paper focuses on an arrangement under the Flexible Credit Line (FCL) for the Republic of Poland. Poland’s macroeconomic performance has been very strong. The authorities believe that access under an FCL arrangement in the amount of SDR 13.69 billion could help maintain market access...
Persistent link: https://www.econbiz.de/10011245204
South Africa has made substantial progress in addressing the recommendations of the Financial Sector Assessment Program and is continuing to build upon these accomplishments. The Financial Services Board and Department of Trade and Industry both are organizations with the legal authority to...
Persistent link: https://www.econbiz.de/10011245358
This paper reviews macroeconomic aspects of pension reforms in Latin America, focusing on financial market stability and fiscal sustainability. Concentration of pension fund portfolios in government bonds remains high, and the lack of new investment alternatives has distorted asset prices....
Persistent link: https://www.econbiz.de/10005248326
This paper highlights key findings of the Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Securities Regulation for Chile. The assessment reveals the Chilean banking system...
Persistent link: https://www.econbiz.de/10005252960
This paper proposes a framework for the surveillance of financial institutions' derivatives activities. The designed framework builds on information likely to be collected by financial market regulators for supervisory purposes, and/or information collected by market participants for the purpose...
Persistent link: https://www.econbiz.de/10005263815
This paper underscores the importance of the assessment of incentives of the main agents in a financial system as a key element in the analysis of financial system vulnerability and the surveillance over the financial system. We outline a diagnostic approach for the assessment of incentives....
Persistent link: https://www.econbiz.de/10005264193
This paper assesses proposals to redefine the scope of activities of systemically important financial institutions. Alongside reform of prudential regulation and oversight, these have been offered as solutions to the too-important-to-fail problem. It is argued that while the more radical of...
Persistent link: https://www.econbiz.de/10009369435
instruments can explain much of the in-sample variation in borrowing spreads, this fails to materialize in hedging strategies that … and innovation costs could justify the limited interest for this type of hedging in practice …
Persistent link: https://www.econbiz.de/10009203536
In today's financial system, complex financial institutions are connected through an opaque network of financial exposures. These connections contribute to financial deepening and greater savings allocation efficiency, but are also unstable channels of contagion. Basel III and Solvency II should...
Persistent link: https://www.econbiz.de/10009203537
passive versus active hedging. In addition, it outlines a set of widely accepted best practices in managing currency risk and … presents some of the main hedging instruments in the OTC and exchange-traded markets. The paper also provides some data on the … use of financial derivatives instruments, and hedging practices by U.S. firms. …
Persistent link: https://www.econbiz.de/10005825991