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Europe > Norway

You are looking at 1 - 10 of 12 items for :

  • Type: Journal Issue x
  • Investments: General x
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Cover IMF Staff Country Reports
Norway: Financial Sector Assessment Program-Technical Note-Cybersecurity Risk Supervision and Oversight
International Monetary Fund. Monetary and Capital Markets Department
The Norwegian financial system has a long history of incorporating new technology. Norway is at the forefront of digitization and has tight interdependencies within its financial system, making it particularly vulnerable to evolving cyber threats. Norway is increasingly a cashless society, with surveys and data collection suggesting that only 10 percent of point-of-sale and person-to-person transactions in 2019 were made using cash.1 Most payments made in Norway are digital (e.g., 475 card transactions per capita per annum)2 and there is an increase in new market entrants providing a broad range of services. Thus, good cybersecurity is a prerequisite for financial stability in Norway.
Keywords:
ISCR; CR; cybersecurity incident; cybersecurity risk; incident report; NSM cybersecurity principle; FSA plan; incident information; information sharing; risk management; cybersecurity risk supervision; oversight function; Cyber risk; Financial sector; Financial stability assessment; PFM information systems; Securities; Global
Cover Policy Papers
Poverty Reduction and Growth Trust - 2016 Borrowing Agreements with Danmarks Nationalbank, the Norwegian Ministry of Finance Representing the Kingdom of Norway, and the Sveriges Riksbank
International Monetary Fund
The Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust),entered into an amendment of the 2010 borrowing agreement with Danmarks Nationalbank, and new borrowing agreements with the Norwegian Ministry of Finance representing the Kingdom of Norway and the Sveriges Riksbank (hereafter Denmark, Norway, and Sweden, respectively), by which the counterparties will provide new resources to the Loan Accounts of the PRGT in the total amount of SDR 1.1 billion (see attachments). The augmentation under the amendment and the two new agreements are the first three loan contributions to be concluded in the context of the current Board-endorsed effort to raise SDR 11 billion in new PRGT loan resources. These amendment and new agreements became effective on November 17, 2016.
Keywords:
PP; trustee; amount; business day; bond equivalent yield; interest rate calculation; agreements result; SDR rate; loan resource; equivalent amount; Loans; Currencies; Bond yields; Poverty reduction and development; Treasury bills and bonds
Cover IMF Working Papers
Spillovers to and from the Nordic Economies: A Macroeconometric Model Based Analysis
Mr. Francis Vitek
This paper analyzes the transmission of shocks and policies among and across the Nordic economies and the rest of the world. This spillover analysis is based on a pair of estimated structural macroeconometric models of the world economy, disaggregated into thirty five national economies. We find that the Nordic economies are heavily exposed to external macroeconomic and financial shocks, but have significant scope to mitigate their domestic macroeconomic impacts through coordinated policy responses, given their high degree of regional integration.
Keywords:
WP; economy; Nordic economy; output spillover; Spillover analysis; Trade linkages; Financial linkages; External risks; Policy coordination; output loss; spillover coefficient; risk premium shock; export exposure; source economy; Return on investment; Spillovers; Stock markets; Securities markets; Exports; Global
Cover IMF Working Papers
Governance and Fund Management in the Chinese Pension System
Yu-Wei Hu
,
Gregorio Impavido
, and
Xiaohong Li
The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards.
Keywords:
WP; asset manager; NSSF assets; fixed income; bank deposit; investment fund; NSSF staff; private equity
Cover IMF Working Papers
Corporate Governance Reforms in the EU: Do They Matter and How?
Mr. Iryna V. Ivaschenko
and
Ms. Petya Koeva Brooks
This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the reforms have been successful in reducing the voting premiums EU-wide. Moreover, more intense and broad reform efforts (such as introducing national reforms beyond and above the EU-wide initiatives) bring higher and longer lasting benefits. Our findings also suggest that the market for corporate control in Europe has become more integrated, as illustrated by the lower dispersion in voting premiums across countries and over time.
Keywords:
WP; shareholder; company; shareholder empowerment
Cover IMF Staff Country Reports
Denmark: Financial Sector Assessment Program: Detailed Assessment of the Securities Clearance and Settlement Systems
International Monetary Fund
This paper discusses key findings of the Detailed Assessment of the Securities Clearance and Settlement Systems for Denmark. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdiction. Confirmation of trades between market participants should occur as soon as possible after trade execution, but no later than trade date (T+0). Where confirmation of trades by indirect market participants is required, it should occur as soon as possible after trade execution, preferably on T+0, but no later than T+1.
Keywords:
ISCR; CR; settlement cycle; bond issue; VP settlement account; cash settlement; clearing rule; securities lending; VP system; replacement cost; standing VP committee; comments VP; DVP procedure; VP participant; Securities; Securities settlement systems; Central securities depositories; Currencies; Collateral; Baltics
Cover IMF Staff Country Reports
Democratic Republic of Timor-Leste: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper presents evidence on linkages between investment and growth observed in other countries to gauge the expected impact of increasing public investment in Timor-Leste. The results indicate that the level of capital expenditure envisioned in the government’s strategy could significantly boost economic growth and reduce poverty. The paper reviews the major issues related to tax policy reform in Timor-Leste. It also discusses the current direction of Timor-Leste Petroleum Fund asset management and issues that might arise with eventual asset diversification.
Keywords:
ISCR; CR; asset; investment; GDP; fund; income tax; revenue; asset allocation; TLPF assets; investment objective; reform effort; TLPF investment portfolio; Public investment spending; Public investment and public-private partnerships (PPP); Income and capital gains taxes; Income tax systems; East Asia; Asia and Pacific; Europe; Global
Cover IMF Policy Discussion Papers
Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities
Mr. Mark Zelmer
The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to the financial sector, and also for the assets they hold on their balance sheets. The paper reviews the salient facts regarding industrial central bank balance sheets and operating techniques, and outlines different options for dealing with a limited supply of government securities. The main conclusion is that central banks may wish to consider extending credit using a broad range of assets as collateral, and engage in outright transactions of securities guaranteed by financial institutions.
Keywords:
PDP; central bank; financial institution; market; monetary policy; market operation; securities portfolio; portfolio manager; financial condition; settlement system; Securities; Government securities; Currency swaps; Collateral; Central bank credit; Australia and New Zealand
Cover 1993 World Economic and Financial Surveys
1993 World Economic and Financial Surveys
International Capital Markets: Part II
International Monetary Fund

Abstract

This paper discusses systematic issues in international finance explained in the International Capital Markets report. The paper describes that the nature and extent of recent banking problems in several industrial countries along with the policy responses to those problems. It is observed that balance sheet problems in banking are widespread among the major industrial countries. The paper also analyses recent activity in the European currency unit bond and exchange markets, and reviews developments in the private financing of developing countries and discusses several issues raised by the recent experience, including the broadening of the investor base for developing country securities, the special role played by regional financial centers in East and Southeast Asia, and the systemic implications of the evolving pattern of developing country financing. A key influence on international capital movements in recent years was the rising international diversification of investment portfolios, which is generally believed to have increased in response to the liberalization of exchange and capital controls in many industrial countries in the 1970s and 1980s.

Keywords:
WEFS; Annex II reviews trend; x index; over-the-counter derivative market; U.S. dollar; capital market issue; Stock markets; Stocks; Futures; Loans; Securities; Global; Western Hemisphere; Africa; Asia and Pacific; Middle East; bank assets; ECU securities; Commercial banks; Market risk; Credit risk; Caribbean; East Asia
Cover IMF Working Papers
Saving-Investment Correlations: Immobile Capital. Government Policy or Endogenous Behavior?
International Monetary Fund
This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over time. It is concluded that the main reason for the observed high correlations over the recent period is probably government policy.
Keywords:
WP; government; investment; government policy; capital; capital mobility; investment data; saving-investment regression; government saving; inventory investment; investment variable; private sector data; investment decision; investment rate; Private savings; Private investment; Public investment spending; Gold; Time series analysis