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Business and Economics > Insurance

You are looking at 1 - 9 of 9 items for :

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Cover IMF Staff Country Reports
Sweden: Financial System Stability Assessment
International Monetary Fund. Monetary and Capital Markets Department
This paper discusses the findings of the Financial System Stability Assessment for Sweden. The Swedish financial system is large and highly interconnected, putting a premium on the accompanying policy framework. Relative to the size of the domestic economy, the financial system is among Europe’s largest. It features complex domestic and international linkages, reflecting Sweden’s role as a regional financial hub. However, the macrofinancial risks have grown since 2011, for example the rising share of highly indebted households. Stress tests also suggest that banks and nonbanks are largely resilient to solvency shocks, but concerns persist about the ability of bank models to capture unexpected losses.
Keywords:
ISCR; CR; bank; asset; return on equity; bank assets; cross holdings; foreign currency; financial system; hurdle rate; asset liquidation; household assets; assets pro-rata; Housing prices; Stress testing; Financial sector stability; Covered bonds; Insurance; Global; Europe
Cover IMF Staff Country Reports
Sweden: Financial Sector Assessment Program Update-Detailed Assessment of Observance on Insurance Core Principles
International Monetary Fund
The staff report highlights that the insurance sector in Sweden is well developed and mature. The captive insurance segment is mainly driven by tax advantages. This assessment provides an update on the significant regulatory and supervisory developments in the insurance sector of Sweden since 2002. The assessment is based solely on the laws, regulations, and other supervisory requirements and practices that were in place at the time of the assessment.
Keywords:
ISCR; CR; holding company; risk assessment; risk management; corporate governance; insurance group; FI regulation; supervisory authority; board of directors; Insurance companies; Insurance; Solvency; Internal controls; Corporate governance; Global; Baltics; Europe
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 IMF Staff Country Reports
Denmark: Financial System Stability Assessment, including Reports on Observance of Standards and Codes on the following topics, Banking Supervision, Insurance Supervision, Systematically Important Payment
International Monetary Fund
The Financial System Stability Assessment of Denmark has been developed to identify the weakness in the financial sector structure and thereby enhance the resilience to macroeconomic shocks and cross-border contagion. This paper provides the overall stability assessment of the financial system and the autonomy and accountability of the Danish Financial Supervisory Authority (DFSA). It reviews the macroeconomic setting, financial structure and risks. The study also analyzes the financial markets, their structure and safety nets, and assesses financial supervision, standard assessments, and key recommendations to improve the Anti-Money Laundering and Combating the Financing of Terrorism (AML-CLT) system.
Keywords:
ISCR; CR; bank; mortgage; adjustable rate; mortgage bond; return; bond market; commercial bank; return on equity; credit system; variable rate mortgage; Stock markets; Mortgages; Loans; Pension spending; Insurance; Global
Cover IMF Working Papers
Work Absence in Europe
Mr. Leo Bonato
and
Ms. Lusine Lusinyan
Work absence is an important part of the individual decision on actual working hours. This paper focuses on sickness absence in Europe and develops a stylized model where absence is part of the labor-leisure decision made by workers and the production decision made by profit-maximizing firms, with insurance provisions and labor market institutions affecting the costs of absence. The results from a panel of 18 European countries indicate that absence is increased by generous insurance schemes where employers bear little responsibility for their costs. Shorter working hours reduce absence, but flexible working arrangements are preferable if labor supply erosion is a concern.
Keywords:
WP; sickness absence; labor force; sick pay; labor market; unemployment insurance; working time; social insurance; panel data; Europe; absence rate; employment protection; sickness insurance; Insurance; Employment protection; Labor supply; Unemployment benefits
Cover IMF Staff Country Reports
Sweden: Selected Issues
International Monetary Fund
The Selected Issues paper analyzes tax policy trends at the local level in Sweden and assesses the effectiveness of the vertical fiscal policy coordination system. The study reviews Sweden’s local public finances from an international perspective and empirically explores various explanations for the gradual increase in local tax rates. It discusses long-term challenges for local public finances and aggregate fiscal policy coordination. The design of vertical fiscal policy coordination in other countries is described. The paper also examines the Swedish experience of work absence in a European context.
Keywords:
ISCR; CR; sickness absence; absence rate; insurance system; replacement rate; cash benefit; Länder government; tax burden; income tax; Aging; Europe; Western Europe; Global
Cover IMF Staff Country Reports
Sweden: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems
International Monetary Fund
This paper presents key findings of Sweden’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems. The assessment reveals that Sweden has an advanced and overall sound financial system that complies well with international standards and codes. Sweden confronts an environment that is less benign than in recent years and one that poses a number of challenges both to banks themselves and to the regulators and supervisors.
Keywords:
ISCR; CR; clearing member; parent company; capital base; fixed income; foreign exchange; financial market; central bank; monetary policy; mutual fund; foreign exchange market; financial system; banking sector; exchange rate; Insurance; Insurance companies; Stock markets; Payment systems; Mutual funds; Global; Baltics
Cover Deposit Insurance
Deposit Insurance
Actual and Good Practices
Ms. G. G. Garcia

Abstract

This paper demonstrates a well-designed deposit guarantee system can strengthen incentives for owners, managers, depositors and other creditors, borrowers, regulators and supervisors, and politicians. Borrowers should be aware that they will have to repay their loans if their bank fails and will be encouraged to keep their loans current where offsetting is limited to past-due loans. The performance of insurers, regulators, and supervisors as agents will improve where they know that they can take justifiable actions without political interference and will be held accountable for their actions to their principals. Despite the improvements, and possibly partly because there are issues in deposit insurance design that remain to be resolved, financial crises have been prevalent during the 1990s. This situation has forced a number of countries to offer a blanket guarantee to restore confidence and to allow the continued functioning of the financial system while the authorities take time to design a plan for the resolution of the crisis.

Keywords:
OP; deposit; insurance system; deposit guarantee; guarantee; country; importance to the economy; lender-of-last-resort facilities; insurance agency; Deposit insurance; Commercial banks; Bank deposits; Systemic crises; Lender of last resort; Europe; Middle East; Asia and Pacific; Africa; Global
Cover The Nordic Banking Crisis
The Nordic Banking Crisis
Pitfalls in Financial Liberalization: Pitfalls in Financial Liberalization
Mr. Burkhard Drees
and
Ceyla Pazarbasioglu

Abstract

This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to business cycle effects explain the Nordic countries financial problems. Although the timing of the deregulation in all three countries coincided with a strongly expansionary macroeconomic momentum, the main reasons for the banking crises were the delayed policy responses, the structural characteristics of the financial systems, and the banks inadequate internal risk-management controls.

Keywords:
OP; bank; lending; deregulation; savings bank; rate; loan loss; deregulation effort; stock-adjustment effect; lending risk; foreign currency lending; Commercial banks; Loans; Bank credit; Credit; Banking crises; Europe