2011

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Macroprudential Policy Tools and Frameworks

Summary of BCBS, FSB and IMF work to develop fully-fledged macroprudential policy frameworks

Update from Basel Committee on Banking Supervision, Financial Stability Board and International Monetary Fund summarizing work to develop effective macroprudential policies and frameworks. Work includes regulatory reforms and the design of policy tools to strengthen the resilience of the financial system, as well as efforts at the national and regional level to develop fully-fledged macroprudential policy frameworks. Major steps have already been taken, but,work is needed to address the remaining challenges in successfully implementing macroprudential policies and institutional frameworks, including: i) design and collection of better information and data to support systemic risk identification and modelling; ii) design of techniques to identify and measure systemic risk that utilise this information and help inform the design of policies; iii) design of an effective macroprudential toolkit of powers and instruments, including the criteria for the choice and calibration of the instruments and methods to assess their effectiveness, as well as the respective merits of rules versus discretion; and iv) design of appropriate governance arrangements for the exercise of the macroprudential policy powers.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Consultative, discussion and issues paper

Peer: Macroprudential Policy Tools and Frameworks - Progress Report to G20

Topics: Macroprudential, Systemic risk

Sectors: Banking

Risks in Financial Group Structures

OECD paper examines potential costs and benefits of various financial group structures and policy measures used for addressing risks

Organisation for Economic Co-operation and Development paper examines types of risk associated with complex financial groups and reviews evidence in favour of, and against, various alternatives used to address those risks. Paper concludes that there is no perfect solution among various policy options that is sufficient on its own to satisfy core policy objectives. Greater financial and economic impacts associated with problems at large institutions requires a holistic approach that combines transparency, governance, regulation and supervision.

Publisher: International Organizations Release date: Feb 2011

Type: Consultative, discussion and issues paper

Topics: Corporate governance, Conduct, Systemic risk, Transparency and disclosure, Financial conglomerates, Consolidated supervision

Sectors: Banking, Insurance, Securities

Introduction to Risk-based Supervision

IOPS guideline sets out definition of and reasons for adopting RBS

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Sets out definition of risk-based supervision and why and how it should be applied. Summarizes IOPS members' experience when introducing RBS, outlines challenges they encountered (from gathering the right information, to how to look at systemic as well as individual pension fund risk, to changing the culture of supervisory authority), and lessons learned.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision

Sectors: Pensions

Preparation for Risk-Based Supervision

IOPS module 1 guideline sets out foundational issues of RBS

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 1 outlines issues to be considered before implementing RBS, notably relating to legislative environment and readiness of pension supervisory authority and pension industry. Includes questionnaires to assess preparedness and identify critical path for implementation and pace at which RBS can be rolled out.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision, Supervisory framework

Sectors: Pensions

Quantitative Risk Assessment Tools

IOPS module 2 guideline for measuring risk in defined benefit and defined contribution pension funds

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervisors (RBS). Module 2 examines tools to be used by a pension supervisory authority in quantitative assessment of risk. Guideline reviews: i) quantitative regulatory requirements that provide foundation for quantitative assessment of risk; ii) techniques for quantitative assessment of risk; and iii) integrating quantitative tools into risk assessments.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Identifying Risks , Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision, Supervisory framework, Risk quantification

Sectors: Pensions

Identifying Risks

IOPS Module 3 guideline examines individual entity risk focus, factors and indicators, and systemic rick

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 3 assists supervisory authorities to appropriately identify risks in the context of the authorities' objectives and resources.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision, Supervisory framework

Sectors: Pensions

Risk Mitigants and Risk Scoring

IOPS Module 4 guidelines on how to assess risk on a net basis

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 4 helps supervisory authorities who wish to build a risk-scoring module to guide their supervisory actions. Examines: i) risk mitigants and how to assess risk on a net basis; ii) how to build risk scores in more details; and iii) consistency of scores, which are usually checked by a central risk unit within the pension supervisory authority.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Supervisory Response

Sectors: Pensions

Supervisory Response

IOPS Module 5 guideline examines supervisory response matrix, communicating risk assessments and escalation of supervisory response

International Organisation of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 5 provides guidance about how to devise a response matrix to help determine and organize supervisory action. Discusses: i) supervisory response matrix and examines responses to individual entity risks and systemic risks; ii) communication of risk assessments, including whether and how much to disclose; and iii) escalation of supervisory response.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Risk Mitigants and Risk Scoring

Topics: Risk-based supervision, Supervisory framework

Sectors: Pensions

Mitigating Systemic Risk: A Role for Securities Regulators

IOSCO paper addressing role of securities regulators in financial system stability

International Organization of Securities Commissions discussion paper provides insight and guidance on tools that can be used by securities regulators to identify, monitor, mitigate and manage systemic risk. Outlines general approach for regulators and promotes further discussion on role of securities regulators in addressing systemic risk. Supports implementation of the IOSCO Objectives and Principles of Securities Regulation.

Publisher: Global Standard-Setting Bodies Release date: Jan 2011

Type: Consultative, discussion and issues paper

Topics: Systemic risk

Sectors: Securities

Optimizing Board Effectiveness with Gender Diversity

WB discussion paper on gender diversity on corporate boards

World Bank discussion paper explores whether quotas are the solution to underrepresentation by women on corporate boards of directors. Cites evidence that quotas can lead to tokenism, diminish overall value of diversity on boards, affect board dynamics, and potentially lead to diluted commitments from existing female board directors. Instead, recommends that companies take a holistic approach toward improving board nominating criteria and processes, developing female middle and senior management talent, and ensuring positive dynamics among diverse board members.

Publisher: International Organizations Release date: Jan 2011

Type: Consultative, discussion and issues paper

Topics: Gender equality, Corporate governance

Sectors: Banking, Insurance, Pensions, Securities

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Resources

382 records

Macroprudential Policy Tools and Frameworks

Risks in Financial Group Structures

Introduction to Risk-based Supervision

Preparation for Risk-Based Supervision

Quantitative Risk Assessment Tools

Identifying Risks

Risk Mitigants and Risk Scoring

Supervisory Response

Mitigating Systemic Risk: A Role for Securities Regulators

Optimizing Board Effectiveness with Gender Diversity

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