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Europe > Switzerland

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

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Cover IMF Working Papers
Digital Tokens: A Legal Perspective
Mr. José M. Garrido
Tokens are units digitally represented in a distributed ledger or blockchain. The various uses of this technology have the potential to transform a wide array of economic activities, from traditional commercial transactions to sophisticated financial undertakings. This paper explores the similarities and differences of tokens with traditional legal instruments in commercial law and how tokens could offer superior solutions, provided that proper legal foundations are established for their operation, including aspects of the law of securities and consumer protection law.
Keywords:
Tokens; Commercial Law; Securities Law; Fintech; Consumer Protection; token taxonomy; non-fungible token; del Mercado de Valores; digital signature; token offering; aspects of the law of securities; Securities; Blockchain and DLT; Smart contracts; Virtual currencies; Securities regulation; Global
Cover Policy Papers
The Rise of Public and Private Digital Money: A Strategy to Continue Delivering on The IMF’s Mandate
International Monetary Fund
Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.
Keywords:
digital money adoption; IMF surveillance; core activity; IMF's mandate; Policy question; Digital currencies; Financial sector stability; Financial Sector Assessment Program; International monetary system; Central Bank digital currencies; Global
Cover IMF Staff Country Reports
Switzerland: Financial Sector Assessment Program; Technical Note-Supervision and Oversight of Financial Market Infrastructures
International Monetary Fund. Monetary and Capital Markets Department
Financial Sector Assessment Program; Technical Note-Supervision and Oversight of Financial Market Infrastructures
Keywords:
ISCR; CR; risk management; governance arrangement; emergency FMI liquidity facility; assessment letter; business process; FMI board; resolution planning; risk matter; SNB oversight unit; resolution framework; FMI supervision; FMI resolution; financial market; recovery plan; FMI risk management; PFM information systems; Principles for Financial Market Infrastructures; Financial market infrastructure; Central counterparty clearing house; Cyber risk
Cover Policy Papers
New Common Evaluation Framework for IMF Capacity Development
International Monetary Fund
new common evaluation framework for the Fund’s capacity development (CD) activities. The new common evaluation framework is intended to streamline current practices and increase comparability and use of results by adopting for all CD evaluations a common four-step process that includes use of the OECD Development Assistance Committee (DAC) evaluation criteria. Around this common approach, there is flexibility to adapt evaluations to reflect the wide range of CD activities. Key elements of the framework are grouped around the objectives of: producing shorter, more focused, and more comparable evaluations; improving the information supporting evaluations;spending the same level of resources on evaluations while allocating these scarce resources more efficiently; and using the information from evaluations to alter practices or shift the targeting of CD resources.
Keywords:
PP; evaluation framework; evaluation work plan; Fund training evaluation; a bit of TA evaluation; course test; self-assessment evaluation; DAC evaluation criteria; TA project; evaluation summary; evaluation resource; Data collection; Development strategy; Public expenditure review; External balance assessment (EBA); Early warning systems
Cover IMF Staff Country Reports
Austria: 2013 Article IV Consultation
International Monetary Fund. European Dept.
This paper presents details of Austria’s 2013 Article IV Consultation. Austria has been growing economically but is facing challenges in the financial sector. Full implementation of medium-term fiscal adjustment plans require specifying several measures and plans that need gradual strengthening to take expected further bank restructuring cost into account. It suggests that strong early bank intervention and resolution tools, a better designed deposit insurance system, and a bank-financed resolution fund would help reduce the need for budgetary support to any troubled banks in the future.
Keywords:
ISCR; CR; solid windowtext 0.1pt; windowtext 0.1pt; asset; Q1; asset quality; bank asset quality; participation capital; consultation discussion; labor market condition; Bank resolution; Bank resolution framework; Global; Europe; Eastern Europe; Central and Eastern Europe; Middle East; Western Hemisphere; Sub-Saharan Africa
Cover IMF Staff Country Reports
Former Yugoslav Republic of Macedonia: Report on the Observance of Standards and Codes (ROSC)—Data Module
International Monetary Fund
This Report on the Observance of Standards and Codes on Data Module on the Former Yugoslav Republic of Macedonia reviews assessment by agency and dataset. The mission has a set of recommendations for Macedonia’s statistical practices, on discussions with the data-producing agencies and on responses from data users. They are designed to increase further FYR Macedonia’s adherence to internationally accepted statistical practices and would, in the mission’s view, enhance the analytical usefulness of FYR Macedonia’s statistics.
Keywords:
ISCR; CR; balance of payments; SSO; NBRM comment; NBRM release policy; NBRM classification; dissemination policy; NBRM website; Government finance statistics; Monetary statistics; Balance of payments statistics; Consumer price indexes; Europe
Cover IMF Working Papers
FDI Spillovers, Financial Markets, and Economic Development
Selin Sayek
,
Laura Alfaro
,
Areendam Chanda
, and
Sebnem Kalemli-Ozcan
This paper examines the role financial markets play in the relationship between foreign direct investment (FDI) and economic development. We model an economy with a continuum of agents indexed by their level of ability. Agents can either work for the foreign company or undertake entrepreneurial activities, which are subject to a fixed cost. Better financial markets allow agents to take advantage of knowledge spillovers from FDI, magnifying the output effects of FDI. Empirically, we show that well-developed financial markets allow significant gains from FDI, while FDI alone plays an ambiguous role in contributing to development.
Keywords:
WP; central bank; economic growth; entrepreneurial activity; financial markets; foreign direct investment; net FDI inflow; FDI enterprise; FDI share; FDI flow; FDI sector; Financial sector; Financial sector development; Stock markets; Foreign corporations; Sub-Saharan Africa; Africa
Cover Current Legal Issues Affecting Central Banks, Volume V
Current Legal Issues Affecting Central Banks, Volume V
Mr. Robert C. Effros

Abstract

This volume, edited by Robert C. Effros, focuses on how technology is affecting the world of banking and finance in an era of increasing globalization. The advent of electronic money, stored value cards, and internet transactions are discussed, as well as the impact of technology on cross-border banking and its implications for central banks. Other issues examined are the legal and regulatory frameworks for risk management of banks, sovereign debt, the international laws of bank secrecy, and financial services within the context of the GATT Agreement on Trade Services.

Keywords:
BOOK; bank; value; transaction; bank supervisor; debtor; settlement risk; derivatives contract; bank secrecy; value card; Currencies; Legal support in revenue administration; Credit; Global; North America; Europe; Caribbean; Eastern Europe; Asia and Pacific; Market risk; Foreign banks
Cover IMF Staff Country Reports
Switzerland: Recent Economic Developments
International Monetary Fund
This paper reviews economic developments in Switzerland during 1990–95. In the early 1990s, Switzerland experienced an unusually long recession, which bottomed out in the middle of 1993. Since then, the economy has returned to positive growth, with the main impulses coming from commodity exports and private investment. There was renewed growth in gross capital formation of close to 6 percent in 1994, reflecting improved business confidence deriving mainly from growing export orders. Investment in machinery and equipment, in particular, was the sole component of domestic demand to grow strongly.
Keywords:
ISCR; CR; government; appreciation; inflation; inflation rate; net; balance of payments; debt ratio; target path; GDP deflator; exchange rate appreciation; federal deficit; General government development; competition law; goods price; Wages; Unemployment rate; Exchange rates; Monetary base; Unemployment; Europe
Cover IMF Staff Country Reports
Côte d'Ivoire: Recent Economic Developments
International Monetary Fund
This paper reviews economic developments in Côte d’lvoire during 1990–95. In 1994, the resumption of growth, initially concentrated in the area of some traded goods, became more widespread during the second half of 1994, offsetting the devaluation-induced contraction in the nontraded goods sectors and in the sectors sheltered from competition, which both suffered from the reduction in real disposable income. Output in volume terms increased at a rate of 4.5 percent in the primary and secondary sectors, and contracted further in the tertiary sectors.
Keywords:
ISCR; CR; gross domestic product; CFA franc; debt service; customs duty; commercial bank; exchange rate; tertiary sector; price index; money market; balance of payments; bank deposit; monetary policy; broad money; base wage; discount rate; capital base; Agricultural commodities; Exports; Arrears; Western Hemisphere