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‣ Evidenciação contábil do risco de mercado por instituições financeiras no Brasil. ; Market Risk Disclosure by Financial Institutions in Brazil.

Goulart, André Moura Cintra
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Dissertação de Mestrado Formato: application/pdf
Publicado em 17/10/2003 Português
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O risco de mercado pode ser entendido como o risco de perdas em decorrência de oscilações em variáveis econômicas e financeiras, como taxas de juros, taxas de câmbio, preços de ações e de commodities. A adequada evidenciação dos aspectos relacionados ao risco de mercado tem assumido importância crescente no sistema financeiro, por diversos fatores, como as crises financeiras de amplitude global, o desenvolvimento dos derivativos, os colapsos empresariais decorrentes de deficiências na gestão de riscos, e as exigências de capital em função dos riscos incorridos pelas instituições. O objetivo da pesquisa é verificar e analisar o grau de evidenciação, por parte das instituições financeiras com atuação no Brasil, quanto às questões relativas ao risco de mercado. Para a avaliação das informações prestadas, são utilizadas como parâmetro as recomendações de evidenciação do Comitê de Supervisão Bancária da Basiléia, bem como informações sobre as práticas de divulgação de instituições financeiras no mercado internacional, a partir de levantamentos realizados pelo BIS (Bank for International Settlements). Assim, questiona-se se as instituições financeiras com atuação no Brasil têm apresentado aderência aos padrões internacionais de evidenciação na área de risco de mercado. Os resultados obtidos com a pesquisa empírica...

‣ Financial Institutions and Markets across Countries and over Time : Data and Analysis

Beck, Thorsten; Demirgüç-Kunt, Asli; Levine, Ross
Fonte: Banco Mundial Publicador: Banco Mundial
Português
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This paper introduces the updated and expanded version of the Financial Development and Structure Database and presents recent trends in structure and development of financial institutions and markets across countries. The authors add indicators on banking structure and financial globalization. They find a deepening of both financial markets and institutions, a trend concentrated in high-income countries and more pronounced for markets than for banks. Similarly, the recent increase in cross-border lending and debt issues has been concentrated in high-income countries, while low and lower-middle income countries have experienced an increase in remittance flows. Low net interest margins, rising profitability and declining stability in high-income countries banking sectors characterize the recent financial sector boom in high income countries leading up to the global financial crisis of 2007.

‣ Dollars, Debt, and International Financial Institutions

Yeyati, Eduardo Levy
Fonte: World Bank Publicador: World Bank
Tipo: Artigo de Revista Científica
Português
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Financial dollarization is increasingly seen as a concern because of its tendency to contribute to financial crises and output volatility. As a result the debate on financial dollarization has shifted in favor of a more proactive stance on dedollarization. While often neglected, lending from international financial institutions is an important source of financial dollarization in emerging economies and must be considered in any dedollarization strategy. This article revisits old and new arguments in favor of international financial institution lending in the local currency and argues that any such initiative should rely, at least initially, on demand from residents seeking stable returns in units of the local consumption basket but who are reluctant to take on sovereign risk. Superior enforcement capacity enables international financial institutions to intermediate these savings, currently invested in dollarized foreign assets, back into the local economy. The international financial institutions can offer investment-grade local currency bonds and use the proceeds to dedollarize their own lending to noninvestment-grade countries, thereby reducing financial dollarization and fostering the development of local currency markets.

‣ The Development of Non-bank Financial Institutions in Ukraine : Policy Reform Strategy and Action Plan

Noel, Michel; Kantur, Zeynep; Prigozhina, Angela; Rutledge, Sue; Fursova, Olena
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Português
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The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To address the main impediments facing the development of the sector, the Ukrainian authorities need to implement a strategy based on six main pillars: 1) strengthen the capacity, independence, funding, and accountability of the NBFI regulators; 2) develop money markets, government bond markets, and municipal bond markets; 3) restructure equity markets; 4) accelerate the introduction of funded pension schemes, and, improve transparency and consumer protection in the insurance industry; 5) radically transform corporate governance; and, 6) broaden access of NBFI finance.

‣ Capacity Building in Africa : The Role of International Financial Institutions

Nsouli, Saleh M.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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The note looks at the interrelation of three essential components to economic development: capacity building - the development of skills and institutions; good governance; and, economic reform, the two other components which cannot be implemented without well-functioning institutions. It further reviews the rationale and evidence of institutional capacity building, because it provides the framework within which people, and firms participate in the economy. Most importantly, the different specific objectives of international financial institutions are examined, first in their support to investments, e.g., infrastructure and capacity building within an adjustment program; second, in the achievement of economic and social policy; and, third, in encouraging economic development, and business practices, through training, and collaborative efforts. The note specifically reviews the support provided by the International Monetary Fund, which includes capacity building towards enhancing economic expertise, through technical assistance...

‣ State Financial Institutions : Can They Be Relied on to Kick-Start Lending?

Rudolph, Heinz P.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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The need to kick-start lending to the real sector in response to the global financial crisis is leading many countries to expand the role of state-owned financial institutions. The effectiveness of the support by these institutions depends in large part on the nature of the shock, on their ability to leverage private commercial banks to scale up their impact, and on the existence of a sound institutional framework. While it is too early to evaluate their effectiveness, past experience with the use of such institutions is sobering. Whether countries will heed the les sons of this experience remains to be seen.

‣ The Development and Regulation of Non-Bank Financial Institutions

Carmichael, Jeffrey; Pomerleano, Michael
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Português
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Non-bank financial institutions (NBFIs) are becoming an increasingly important segment of the financial system in some developing countries. This book aims to create awareness of the promise of NBFIs for developing countries and to assist policymakers in creating a coherent policy structure and a sound regulatory and supervisory environment for their development. The first chapter offers a coherent policy framework for addressing the regulation of NBFIs and the second chapter addresses the principles for regulation. Subsequent chapters provide an overview of the insurance industry, mutual funds and pension schemes, leasing and real estate companies, and securities markets, and discusses the specific regulatory framework for these institutions. The final chapter explores development policy challenges confronting emerging markets.

‣ Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries

Bakker, Marie-Renée; Gross, Alexandra
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Português
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This paper assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first-wave of Eastern European EU accession countries (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia), the current state of development and prospects for future growth, and the likely impact on these segments of the financial system of accession to the EU. Throughout the paper, the level of development of nonblank financial institutions and capital markets in the accession countries is benchmarked against comparable development levels seen in existing EU member states. The paper concludes with a series of policy recommendations to facilitate future development of non-bank forms of financial intermediation.

‣ Capital Markets and Non-bank Financial Institutions in Romania : Assessment of Key Issues and Recommendations for Development

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
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This study assesses key issues and recommendations for development, and reviews the specific changes which are necessary in four areas: structural reforms, market institutions, and infrastructure; accounting, transparency, and disclosure; market infrastructure; and credit enhancements. With only three years remaining before joining the European Union, Romania is working hard to improve its capital markets and non-bank financial institutions, which remain less developed than those in other accession countries. Strengthening these sectors has become a top priority for policymakers, whose primary objective is to ensure that the financial system is sufficiently developed to serve the growing demands of the Romanian economy.

‣ Regulating Islamic Financial Institutions: The Nature of the Regulated

El-Hawary, Dahlia; Grais, Wafik; Iqbal, Zamir
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
Português
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More than 200 Islamic financial institutions (IFIs) operate in 48 countries. Their combined assets exceed $200 billion, with an annual growth rate between 12 percent and 15 percent. The regulatory regime governing IFIs varies significantly across countries. A number of international organizations have been established with the mandate to set standards that would strengthen and harmonize prudential regulations as they apply to IFIs. The authors contribute to the discussion on the nature of prudential standards to be developed. They clarify the risks that IFIs are exposed to and the type of regulations that are needed to systematically manage them. They consider that the industry is still in a development process whose eventual outcome is the convergence of the practice of Islamic financial intermediation with its conceptual foundations. The authors contrast the risks and regulations needed in the case of Islamic financial intermediation operating according to core principles and current practice. They outline implications for approaches to capital adequacy...

‣ Governance and Australian financial institutions

Davis, Kevin
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 114091 bytes; 352 bytes; application/pdf; application/octet-stream
Português
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This paper examines issues of corporate governance arising from the activities of financial institutions and markets. It is argued that governance problems are particularly severe in financial institutions vis-a-vis firms in other industries, and particularly important for society given the central role of financial institutions and markets in the financing and corporate governance activities of the economy. Processes of financial reform and financial system design have, it is argued, generally paid inadequate attention to governance considerations. The paper: examines some of the public policy issues related to governance of financial institutions; discusses some of the problems evident in governance within financial institutions; and considers emerging issues and trends in the governance role of financial institutions in the broader economy. ‘Structural changes in financial markets have led to the emergence of new financial instruments, increased integration of markets, stronger competition and new or radically changed financial institutions. These developments are having an important impact on the functioning of financial governance channels, although not all consequences are well understood.’ OECD (1997); no

‣ A global cross-border insolvency framework for financial institutions

WOLF, Annika
Fonte: Instituto Universitário Europeu Publicador: Instituto Universitário Europeu
Tipo: Trabalho em Andamento Formato: application/pdf; digital
Português
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The recent financial crisis has shown that national frameworks have been insufficient to stem the cross-border effects of the failure of a systemically important financial institution. This paper refers to the challenges for governments, in the aftermath of the financial crisis starting in 2007/2008, to provide stability in financial markets and the role of financial institutions for national economies and on a global scale. It discusses the need for coordinated action to resolve SIFIs by evaluating the regional approaches in Europe and the US, as well as considering the recommendations of four international bodies on the insolvency of large and complex financial institutions: the Financial Stability Board, the United Nations Commission on International Trade Law, the International Monetary Fund and the Basel Committee on Banking Supervision. The paper argues that key implications need to be recognized in order to make a global cross-border insolvency framework work effectively to coordinate around another Lehman-like event. It concludes that much has been discussed and initiated in the last six years, however, many issues are still unsolved. While single measures with a regional character are fit and comprehensible as a starting point...

‣ Bad debt provisions of financial institutions: dilemma of China's corporate governance regime

Shan, Y.; Xu, L.
Fonte: Emerald Group Publishing Ltd Publicador: Emerald Group Publishing Ltd
Tipo: Artigo de Revista Científica
Publicado em //2012 Português
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PURPOSE: The purpose of this paper is to investigate whether the level of bad debt provisions of financial institutions is affected by internal governance mechanisms (IGMs) from the perspective of the Type II principal-principal (PP) conflicts between the controlling shareholders and the minority shareholders. DESIGN/METHODOLOGY/APPROACH: The authors’ sample covers all listed financial institutions in China, comprising a panel data set of 139 firm-year observations covering 1999 to 2009.Within China’s two-tier corporate governance context, the three IGMs – ownership structure, board of directors and supervisory board – are measured to examine the level of bad debt provisions. FINDINGS: The findings suggest that state ownership and legal person ownership are negatively related to the level of bad debt provisions, but board size reveals a positive association. Other factors including foreign ownership, independent directors, board meeting, supervisory board size and supervisory board meeting were found to have no impact. PRACTICAL IMPLICATIONS: The spirit of corporate governance reform has not been transferred to financial institutions sufficiently. The board of directors and supervisory board actually act the roles of “window dressing” or “rubber stamp” within the current two-tier system. From the Type II PP perspective...

‣ Nigeria : Financial Sector Review, Volume 3. Non-Bank Financial Institutions and Markets

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Português
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This report is a comprehensive review of the Nigerian financial system, covering the following areas: i) macro-financial environment; ii) safety and soundness of the banking system; iii) banking supervision; iv) development finance institutions; v) community banks and commercial banks' rural operations; vi) insurance and pensions; vii) housing finance; viii) money and capital markets; and ix) term finance and leasing. The report is in three volumes: Volume 1 (Overview and Macro-financial Environment) covers the Executive Summary, Overview of the Financial System and Macro-Financial Issues. Volume 2 (Banking Institutions) contains chapters on: i) The Banking System; ii) Assessment of Banking Supervision; iii) Development Finance Institutions; and iv) Community Banks and Commercial banks' rural operations. Volume 3 (Non-Bank Financial Institutions and Markets) includes: i) Insurance and Pensions; ii) Housing Finance; iii) Money and Capital Markets; and iv) Term Finance and Leasing. The Statistical Annex contains relevant data for all the chapters.

‣ The Political Economy of Distress in East Asian Financial Institutions

Bongini, Paola; Claessens, Constantijn A.; Ferri, Giovanni
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Working Paper; Publications & Research; Publications & Research :: Policy Research Working Paper
Português
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Politics and regulatory capture can play an important role in financial institutions distress. East Asia's financial crisis featured many distressed and closed financial intermediaries in an environment with many links between government, politicians, supervisors, and financial institutions. This makes the East Asian financial crisis a good event for studying how such connections affect the resolution of financial institutions distress. The authors investigate distress and closure decisions for 186 banks and 97 non-bank financial institutions in Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand. They find that after July 1997, 42 percent of the institutions experienced distress (were closed, merged, or re-capitalized, or had their operations temporarily suspended). By July 1999, 13 percent of all institutions in existence in July 1997 had been closed. Using financial data for 1996, the authors find that: 1) Traditional CAMEL-type variables - returns on assets, loan growth, and the ratio of loan loss reserves to capital...

‣ Lessons Learned from Past Financial Crises : Korea 1998-2000 - Investing Equity/Quasi-Equity with Agility in Financial Institutions

Masse, Jean-Marie
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
Português
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International Finance Corporation (IFC) was very active in the Republic of Korea immediately after the Asian financial crisis erupted in 1997. IFC reestablished operations in Korea and opened a local office in October 1998, and closed it in late 2002 after Korea recovered from the crisis. At the end of 1997, the Korean economy suddenly started to contract, the Korean won plummeted by over 100 percent against the US dollar, and liquidity in the banking sector dried up. Major commercial banks as well as smaller specialized financial institutions all faced increases in non-performing loans and were unable to roll over their shorter-term funding. In response to this crisis, IFC's first priority was to strengthen financial institutions through both financing and advisory services, and enable them to lead the restructuring process. IFC then injected liquidity into the trading system through trade enhancement facilities. IFC supported the restructuring of corporations facing liquidity problems and helped its clients grow as the recovery began. IFC helped strengthen Korea's financial sector by giving priority to financial sector reform. The Board approved investments of about US$670 million in 16 banks and finance companies.

‣ Strengthening the Governance and Performance of State-Owned Financial Institutions

Scott, David H.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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Corporate governance arrangements define the responsibilities, authorities and accountabilities of owners, boards of directors, and executive managers of a company. Good corporate governance is as important for state financial institutions as for private sector companies. Many of the problems that commonly afflict state financial institutions can be associated with, if not attributed directly to, weaknesses in corporate governance. This note draws on guidelines recently published by the OECD and the Basel Committee for Banking Supervision to compile a comprehensive corporate governance evaluation framework relevant to state-owned commercial and development finance institutions. It highlights aspects of this framework that are considered to be of particular importance to state financial institutions by citing innovative practices in a number of countries. Finally, it presents a detailed case study of the governance arrangements in place at the Development Bank of Southern Africa.

‣ State Financial Institutions : Mandates, Governance, and Beyond

Rudolph, Heinz P.
Fonte: Banco Mundial Publicador: Banco Mundial
Tipo: Publications & Research :: Policy Research Working Paper
Português
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There is no doubt that on average the performance of state financial institutions around the world has been below the lowest expectations. Lack of governance, management skills, regulation, and transparency, and misguided incentives have contributed to discredit these institutions for supporting the development of local financial markets. However, the pro-active role that some state financial institutions have played in the recent crisis in allocating credit to sectors cyclically not attractive for commercial banks has brought back the question of whether some state ownership in the banking system would be preferable. This paper analyzes the experience of four state financial institutions that have performed relatively well in the past: Canada's Business Development Bank, Chile's BancoEstado, South Africa's Development Bank of Southern Africa, and Finland's Finnvera plc. The author finds that these institutions have different checks and balances to mitigate eventual mismanagement of resources. The author also finds that little progress has been made in measuring the policy performance of these institutions.

‣ Non-bank Financial Institutions and Capital Markets in Turkey

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
Português
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This study analyses the state of development, and prospects of future growth of Turkish non-bank financial institutions, and capital markets. Currently, credit markets in Turkey are dominated by banking, and capital markets are dominated by Government securities. Longstanding macro-economic instability, and inflation have discouraged investment in financial assets, and crowded out funding for the private sector. The resulting lack of depth, and breadth has made the financial sector vulnerable to shocks, resulting in repeated crises, and, has reduced its intermediation efficiency. To enhance the financial sector's capacity to support private sector development, and economic growth, and to reduce its vulnerability to shocks, non-bank sources of finance should be developed. The report identifies the key policy issues that should be addressed for this purpose. The discussion, and policy recommendations are structured around the following leading themes: a) mobilizing savings; b) building an institutional investor base...

‣ Influência da crise financeira mundial na estrutura econômica das instituições financeiras bancárias brasileiras e seus reflexos no Índice de Basiléia: Uma abordagem comparativa; INFLUENCE OF THE GLOBAL FINANCIAL CRISIS IN ECONOMIC STRUCTURE OF THE BRAZILIAN BANKING FINANCIAL INSTITUTIONS AND THEIR REFLECTIONS IN BASEL INDEX: A COMPARATIVE APPROACH

Almeida, Mário Sérgio de; Amaral, Hudson Fernandes; Francisco, Jose Roberto de Souza; Bertucci, Luiz Alberto
Fonte: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade de RP Publicador: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade de RP
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; ; Pesquisa Empírica de Campo; ; ; ; ; ; Formato: application/pdf
Publicado em 31/12/2012 Português
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Amid Credit Crisis that hit financial institutions in several countries between 2008 and 2009, this study aims to examine their effects on the largest Brazilian banks, conducting a study to understand what aspects are involved. And yet, do a survey of the BIS ratio of the first quarter of 2006 until the last quarter of 2011 to assess the impact on the content and variation in the Balance Sheet which contributed to the changes in the index. Its main issue: what is the impact of the credit crisis on the results of the balance sheets of financial institutions, and examining how changes in the BIS ratio? Aims to identify the consequences of the worsening global financial crisis in the index of Basel II on Financial Institutions. It was felt a great influence of Credit Risk in the composition of the Risk of Domestic financial institutions. Risk that intensified after the impact of the crisis, indeed justifiable given the difficulty in obtaining external credit.; Em meio a Crise de Crédito que atingiu instituições financeiras de vários países, entre 2008 e 2009, este trabalho pretende analisar seus efeitos para os maiores bancos brasileiros, realizando um estudo para compreender quais aspectos estão envolvidos. E ainda, faz um levantamento do índice de Basiléia do primeiro trimestre de 2006 até o último trimestre de 2009...