Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more...

After a brief overview of current financing difficulties for SMEs and policy measures to support SME lending during the crisis,this article presents a literature review related to difficulties in SME’s access to finance during the crisis, against a background of a sharp decline in bank...

Reducing bank dependence in financing small-and medium-sized enterprises (SMEs) that are key contributors to economic growth and job creation should help making them more resilient to financial shocks. Various non-bank debt financing alternatives are available and were the focus of a Roundtable...

As the OECD is celebrating its 50th anniversary, member countries are exiting from the biggest post-war financial and economic crisis and are trying to put their economies back onto strong, sustainable footing. While financial reforms should provide for a better, more sustainable balance between...

The demand for long-dated bonds has increased, driven by stricter asset-liability matching regulations governing pension funds, new international accounting standards, as well as new risk-based regulations for insurance companies. In several countries, pension funds and insurance companies are...

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 riskmanagement culture should...

The current interest rate environment has been conducive to financial institutions assuming exposure to interest rate risks. As interest rates are expected to rise globally, albeit slowly, and current steep yield curves may soon flatten, such risks may materialise in the near future. At the same...

The situation in financial markets deteriorated over the past year, but government actions have helped to avert an even bigger crisis. While some signs of recovery are on the horizon, the banking sectors in many countries are not yet on solid footing. Recent government programmes that deal with...