eBook

Risk-based supervision of pension funds : emerging practices and challenges

Rocha, Roberto Rezende, Brunner, Greg, Hinz, Richard

2008

Overview

'Risk-Based Supervision of Pension Funds' provides a review of the design and experience of risk-based pension fund supervision in countries that have been leaders in the development of these methods. The utilization of risk-based methods originates primarily in the supervision of banks. In recent years it has increasingly been extended to other types of financial intermediaries, including pension funds and insurers. The trend toward risk-based supervision of pensions reflects an increasing focus on risk management in both banking and insurance based on three key elements: capital requirements, supervisory review, and market discipline. Although similar in concept to the techniques developed in banking, its application to pension funds has required modifications, particularly for defined contribution funds that transfer investment risk to fund members. The countries examined–Australia, Denmark, Mexico, and the Netherlands–provide a range of experience that illustrates both the diversity of pension systems and the approaches to risk-based supervision, and also presents a commonality of focus on sound risk management and effective supervisory outcomes.

• Publisher: World Bank,World Bank Publications,The World Bank,Washington, DC : World Bank
• Subject: ACCOUNTING / ACCOUNTING STANDARDS / ADVERSE PRICE MOVEMENTS / ASSET ALLOCATION / ASSET BASE / ASSET CLASS / ASSET CLASSES / ASSET LIABILITY MANAGEMENT / ASSET PORTFOLIOS / ASSET PRICES / ASSET QUALITY / ASSET-LIABILITY MISMATCHES / Aufsichtsbehörde / BALANCE SHEET / BALANCE SHEETS / BANKING SYSTEM / BOND PORTFOLIO / BUSINESS & ECONOMICS / BUSINESS PLAN / CALCULATION / CALL OPTIONS / CAPITAL ADEQUACY / CAPITAL ALLOCATION / CAPITAL REQUIREMENT / CAPITAL REQUIREMENTS / CENTRAL BANK / COMPLIANCE · REPORTING / CONTRIBUTION / CONTRIBUTION SYSTEMS / CONTRIBUTIONS / CORPORATE GOVERNANCE / CREDIT RISK / CREDIT RISKS / CREDIT STANDING / Cross-cultural studies / CURRENCY / DEFINED-BENEFIT PENSION / DEFINED-CONTRIBUTION PENSION / DEPOSITS / DERIVATIVE / DERIVATIVE TRANSACTIONS / DERIVATIVES / DISCLOSURE REQUIREMENTS / DISCOUNT RATE / DOMESTIC BONDS / DOMESTIC EQUITIES / EARNINGS / EFFICIENT INVESTMENT / EQUITIES / EQUITY INVESTMENTS / EQUITY MARKET / EQUITY RETURNS / EURO MARKET / FAIR VALUATION / FINANCIAL CRISIS / FINANCIAL INSTITUTION / FINANCIAL INSTITUTIONS / FINANCIAL INSTRUMENTS / FINANCIAL INTERMEDIARIES / FINANCIAL MARKETS / FINANCIAL RISK / FINANCIAL RISKS / FINANCIAL SECTOR / FINANCIAL SERVICE / FINANCIAL SERVICES / FINANCIAL SERVICES AUTHORITY / FINANCIAL STABILITY / FINANCIAL STATEMENTS / FINANCIAL SYSTEM / FIXED INCOME / FOREIGN CURRENCY / FOREIGN EQUITIES / FULL-TIME EMPLOYEES / FUND MANAGERS / GOVERNMENT BOND / GOVERNMENT BOND YIELDS / GOVERNMENT BONDS / GOVERNMENT SECURITIES / GROSS DOMESTIC PRODUCT / HOLDINGS / INCOME INSTRUMENTS / INDIVIDUAL ACCOUNTS / INFORMATION SYSTEM / INFORMATION SYSTEMS / INSURANCE / INSURANCE COMPANIES / INSURANCE INDUSTRY / INTEREST RATE / INTEREST RATE RISK / INTEREST RATE RISKS / INTEREST RATE SWAPS / INTEREST RATES / INTERNAL AUDITS / INTERNATIONAL BANK / INTERNATIONAL SETTLEMENTS / INVESTMENT PATTERNS / INVESTMENT PERFORMANCE / INVESTMENT POLICIES / INVESTMENT REGIME / INVESTMENT REGULATION / INVESTMENT RETURNS / INVESTMENT RISK / INVESTMENT STRATEGIES / LABOR FORCE / LABOR MARKET / LEGAL OBLIGATION / LIABILITY / LIFE EXPECTANCY / LIFE INSURANCE / LIFE INSURANCE COMPANIES / LIQUID ASSETS / LIQUIDITY / LONG-TERM INTEREST / LONG-TERM INTEREST RATE / Management / MARGIN REQUIREMENTS / MARKET ANALYSTS / MARKET CONDITIONS / MARKET DEVELOPMENTS / MARKET DISCIPLINE / MARKET LIQUIDITY / MARKET PARTICIPANTS / MARKET RISK / MARKET VALUE / MARKET VALUES / MARKET YIELD / MATURITY / MINIMUM CAPITAL REQUIREMENT / MINIMUM CAPITAL REQUIREMENTS / MORTGAGE / MORTGAGE BONDS / MORTGAGE LOANS / MORTGAGES / OCCUPATIONAL FUNDS / OTHER ASSETS / PENSION / PENSION ASSETS / PENSION COMPANIES / PENSION CONTRIBUTIONS / PENSION FUND / PENSION FUND ADMINISTRATORS / PENSION FUND ASSET / PENSION FUND SUPERVISION / PENSION FUNDS / PENSION PLAN / PENSION PLANS / PENSION POLICY / PENSION PROVIDERS / PENSION SCHEMES / PENSION SECTORS / PENSION SYSTEM / PENSION SYSTEMS / Pension trusts / Pension trusts -- Cross-cultural studies / Pension trusts -- Management -- Cross-cultural studies / PENSIONERS / PENSIONS / Pensionskasse / PORTFOLIO / PORTFOLIO VALUATION / PORTFOLIOS / PRIVATE LOANS / PRIVATE PENSION / PRIVATE PENSION FUNDS / PRIVATE PENSION PLANS / PROBABILITY / PRUDENTIAL REGULATION / PUBLIC DEBT / RATE OF RETURN / REGULATORY AUTHORITY / REGULATORY FRAMEWORK / REGULATORY STANDARDS / REGULATORY STRUCTURE / RESEARCH ASSISTANCE / RESPONSIBILITIES / RETIREMENT / RETIREMENT INCOME / RETIREMENT SAVINGS / RETURN / RETURNS / Risk / RISK ASSESSMENT / RISK ASSESSMENT PROCESS / RISK CAPITAL / RISK CONTROL / RISK CONTROLS / RISK EXPOSURE / RISK EXPOSURES / RISK FACTOR / RISK FACTORS / RISK MANAGEMENT / RISK MANAGEMENT STRATEGIES / RISK MANAGEMENT SYSTEM / RISK MANAGEMENT SYSTEMS / RISK PROFILE / RISK SCORES / SENIOR / SMALLER FUNDS / SOCIAL INSURANCE / SOCIAL INSURANCE SYSTEMS / SOLVENCY / SPECIAL SAVINGS / STAKEHOLDERS / SUPERVISION OF BANKS / SUPERVISION OF PENSION FUND / SUPERVISION OF PENSION FUNDS / SUPERVISORY AGENCIES / SUPERVISORY AGENCY / SUPERVISORY AUTHORITY / SWAP / SWAP CURVE / TAX / TAX LAWS / TRADITIONAL FINANCIAL INSTITUTIONS / TRANSPARENCY / USE OF DERIVATIVES / VALUABLE / VALUATION / Welt / WITHDRAWAL / YIELD CURVE
• ISBN: 9780821374931, 0821374931, 9780821374948, 082137494X