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Business and Economics > Insurance

You are looking at 1 - 10 of 28 items for :

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Cover IMF Staff Country Reports
Jamaica: Financial System Stability Assessment
International Monetary Fund. Monetary and Capital Markets Department
The macroeconomic environment has improved, reflecting the authorities’ efforts, supported by an IMF arrangement. Previously, years of high fiscal deficits, public enterprise borrowing, and financial sector bailouts led to rapid government debt accumulation, crowded out private credit, increased financial dollarization, and stifled economic growth. Fiscal discipline has been essential to reduce public debt (to about 100 percent of GDP). With government debt accounting for a sizable share of financial institutions’ assets, falling interest rates on government debt are leading to a search for yield. Also, entrenched structural obstacles, including high crime, bureaucratic processes, insufficient labor force skills, and poor access to finance still constrain economic growth. The authorities have made good progress in implementing the 2006 FSAP recommendations. Work on the regulatory framework has significantly advanced in several areas such as securities dealers’ activities, powers to the Bank of Jamaica (BoJ), payment systems, and the introduction of the centralized securities depository. However, the crisis management framework and risk-based supervision work has been lagging.
Keywords:
ISCR; CR; securities dealer; return on equity; Sagicor investments Jamaica Sagicor life Jamaica; BoJ power; intermediation activity; liquid asset ratio; liquid asset ratio requirement; liquidity facilities; unit trust; insurance fund; credit risk; resolution regime; Securities; Insurance companies; Insurance; Pension spending; Global; Caribbean
Cover IMF Staff Country Reports
Euro Area Policies: Financial Sector Assessment Program-Technical Note-Insurance, Investment Firm, and Macroprudential Oversight
International Monetary Fund. Monetary and Capital Markets Department
While national authorities are still largely responsible for supervising the nonbank sector and applying the macroprudential framework, European Union (EU)-level organizations’ supervisory role is growing. Further convergence and strengthening of supervision of insurers and investment firms is consistent with the goals of an EU single market and financial stability. The macroprudential framework functions well but could be simplified and expanded to cover aspects of the nonbank sector.
Keywords:
ISCR; CR; interest rate; single market; coverage ratio; credit institution; financial activity; market structure; parent company; group assets; Insurance companies; Insurance; Solvency; Macroprudential policy; Global
Cover IMF Staff Country Reports
Japan: Financial System Stability Assessment
International Monetary Fund. Monetary and Capital Markets Department
This paper assesses the stability of the financial system in Japan. Although the financial system has remained stable, the low profitability environment is creating new risks, and pressures are likely to persist. The search for yield among banks has led some to expand their overseas activities, and more generally to a growth in real estate lending and foreign securities investments. Efforts to increase risk-based lending to small-and medium-sized enterprises are welcome, but many banks still need to develop commensurate credit assessment capacities. Stress tests suggest that the banking sector remains broadly sound, although market risks are increasing, and there are some vulnerabilities among regional banks.
Keywords:
ISCR; CR; City bank; financial system; bank management; credit risk; banking sector; financial market; risk profile; asset-based lending; venture capital; banks cope; BoJ purchase; regional bank; solvency regime; funding source; Insurance companies; Insurance; Securities; Commercial banks; Global
Cover Balance of Payments Manual, Sixth Edition Compilation Guide
Balance of Payments Manual, Sixth Edition Compilation Guide
Mr. Eduardo Valdivia-Velarde
and
Ms. Tamara Razin

Abstract

The Balance of Payments and International Investment Position Manual 6: Compilation Guide is a companion document to the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). The purpose of the Guide is to show how the conceptual framework described in the BPM6 may be implemented in practice and to provide practical advice on source data and methodologies for compiling statistics on the balance of payments and the international investment position. The Guide is not intended to be a stand-alone manual, and readers should be familiar with the BPM6.

Keywords:
M&G; economy; transaction; goods; enterprise survey; net acquisition; investment fund; balance of payments; financing transaction; incurrence of liability; Foreign direct investment; Income; Securities; Insurance; Currencies; Global; Africa; net incurrence; acquisition of financial assets; Financial account
Cover IMF Staff Country Reports
Switzerland: Report on Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation
International Monetary Fund. Monetary and Capital Markets Department
Report on Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation
Keywords:
ISCR; CR; risk management; audit firm; holding company; securities dealer; terms and conditions; Swiss authority; FINMA expectation; FINMA Insurance Bankruptcy Ordinance; enforcement power; FINMA guidance; insider trading; Swiss authorities; FINMA intervention; Insurance companies; Securities; Auditing; Insurance; External audit; Global
Cover IMF Staff Country Reports
Canada: Report on the Observance of Standards and Codes
International Monetary Fund. Western Hemisphere Dept.
This paper discusses key findings of the Report on the Observance of Standards and Codes for Canada. Canada has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision. In response to the challenges and structure of its market, the Canadian banking supervisor (OSFI) has developed and is a strong proponent of risk-based, proportionate, supervisory practices and applies a “close touch” approach to its supervised entities. The supervisory approach is well structured, forward looking and maintained on as dynamic a basis as possible. Entry to the Canadian market is subject to demanding prudential entry standards.
Keywords:
ISCR; CR; holding company; risk management; due diligence; OSFI supervisor; securities regulator; financial market; hedge fund; Insurance companies; Securities; Insurance; Legal support in revenue administration; Basel Core Principles; Global
Cover IMF Staff Country Reports
United States: Publication of Financial Sector Assessment Program Documentation: Financial System Stability Assessment
International Monetary Fund
Though The United States has experienced a devastating financial crisis owing to multifaceted factors, it started showing recovery. The authorities welcomed the program, which included strengthening microprudential regulation, establishing macroprudential responsibilities, strengthening market discipline, and reforming credit policies. They emphasized the need to establish a council of regulatory agencies such as the Federal Reserve and the Treasury, with a mandate for financial stability. They stressed the need to enhance crisis management, resolution, and systemic liquidity arrangements, and also to address too-big-to-fail issues and the future of the government-sponsored enterprises (GSEs).
Keywords:
ISCR; CR; state Fed-member banks; Fed lending; thrift; Fed chairman; FDIC guarantee; state thrift; thrift supervision; Loans; Securities; Commercial banks; Insurance; Europe; Global
Cover IMF Staff Country Reports
United States: Publication of Financial Sector Assessment Program Documentation: Reports on Observance and Codes
International Monetary Fund
The report gives a summary of the detailed assessment report on the implementation of the Basel Core Principles for Effective Banking in the United States and its recommendations, securities and futures market regulatory, insurance regulation, Fixed Income Clearing Corporation -Government Securities Division (FICC-GSD) system, and other recommendations such as Depository Trust Company (DTC) against the Recommendations for Securities Settlement Systems (RSSS), the National Securities Clearing Corporation (NSCC) against the Recommendation for Central Counterparties (RCCP), the Fedwire Securities Service (FSS) against the Committee on Payment and Settlement Systems -International Organization of Securities Commission (CPSS-IOSCO) RSSSs as well. The U.S. authorities welcomed the Financial Sector Assessment Program (FSAP) and independent reviews, and appreciated significant undertaking associated with reviews in the wake of the crisis.
Keywords:
ISCR; CR; authority; Fixed Income Clearing Corporation-Government Securities Division; fund; governance arrangement; default procedure; NSCC business continuity arrangement; FSS participation requirements; FICC-GSD business continuity arrangement; business continuity arrangement; Securities; Insurance companies; Insurance; Central counterparty clearing house; Global
Cover IMF Staff Country Reports
Sweden: Financial Sector Assessment Program: Detailed Assessment of Observance of Standards and Codes
International Monetary Fund
This paper discusses key findings of the Detailed Assessment of Observance of Standards and Codes in Sweden. The assessment reveals that the laws and regulations on banking activities and their supervision are in place in Sweden. The composition of the Board of the Swedish Financial Supervisory Authority (FI) is not regulated in law or other ordinances. The position of the FI in relation to other public agencies in possible crisis situations is not defined in law. The FI has also made a motion to the government for a large increase in the number of specialists in its employ.
Keywords:
ISCR; CR; mutual fund; holding company; capital base; clearing member; investment firm; risk management; Insurance; Insurance companies; Securities; Credit; Mutual funds; Global; Europe; Baltics
Cover Departmental Papers
The Global Financial Crisis and Adjustment to Shocks in Kenya, Tanzania, and Uganda: A Balance Sheet Analysis Perspective
Ms. Iyabo Masha
This paper analyzes the impact of the global financial crisis on the banking systems in Kenya, Tanzania, and Uganda, and their responses to it, using information from banking system balance sheets. The paper undertakes two distinct analyses. In the first analysis, the focus is on the trend in intersectoral balances and positions in the long run, using annual data for 2001–08. The second analysis uses monthly data for December 2007–May 2009 to determine how intersectoral balance sheets adjusted in the short run to sudden changes in the economic environment during the recent global financial crisis.
Keywords:
DPPP; DP; foreign currency; share; securities; loan; currency; accounts receivable; net po; Intersectoral asset; net foreign currency position; foreign currency position; positions of Kenya; forex liability; Kenyan shilling; Currencies; Financial derivatives; Loans; Foreign currency exposure; Global