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The articles in Financial Market Trends focus on trends, structural issues and developments in financial markets and the financial sector.
English
OECD's twice-yearly journal on financial markets. This issue includes coverage of financial crisis management and the use of government guarantees, current issues including the sovereign debt crisis in Europe and the new regulatory landscape, and highlights from the OECD Sovereign Borrowing Outlook.
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Foreword
This issue of Financial Market Trends compiles, as always, the articles that have been released online over the past few months. It features, as Part I, selected articles based on presentations given at the Symposium on “Financial crisis management ... |
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Managing Crises without Government Guarantees
Experience illustrates that, for successful crisis management, there is no substitute for early intervention and, if possible, a private sector solution in preserving value in the firm and limiting externalities. Early intervention, in turn, calls ... |
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Sovereign and Banking Sector Debt
Sovereigns effectively provided the function of guarantor-of-last resort in response to the 2008/09 banking crisis, and recent bank funding challenges have led to renewed calls for explicit sovereign bank debt guarantees. The present paper focuses ... |
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Public Guarantees on Bank Bonds
The government guarantees on bank bonds adopted in 2008 in many advanced economies to support the banking systems were broadly effective in resuming bank funding and preventing a credit crunch. The guarantees, however, also caused distortions in the ... |
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The Potential Impact of Banking Crises on Public Finances
This paper presents an application of the SYMBOL model, which was recently developed by the European Commission. In this application, we assess the potential impact of a crisis in the banking sector on public finances in four EU Member States chosen ... |
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The Fault Lines in Cross-Border Banking
This paper discusses the fault lines in cross-border banking, both at the global level and at the European Union/European Economic Area (EU/EEA) level, using the case of the three Icelandic cross-border banks as an example. Cross-currency liquidity ... |
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The Macro-Prudential Authority
Neither the achievement of price stability, via the Monetary Policy Committee (MPC), nor the application of micro-prudential oversight, via the Financial Services Authority (FSA), led to overall financial stability. There is a gap that needs to be ... |
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Developing a Framework for Effective Financial Crisis Management
This article discusses the roles and responsibilities of the various agencies that are part of the financial system safety net, and it sets out a framework for the decision-making process for these actors in the management of a financial crisis. In ... |
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The Federal Agency for Financial Market Stabilisation in Germany
One important element of the response to the crisis in Germany was the establishment of a new institution, the Bundesanstalt für Finanzmarktstabilisierung (Federal Agency for Financial Market Stabilisation, henceforth FMSA). The aim was to ... |
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The EU Architecture to Avert a Sovereign Debt Crisis
This paper analyses what has been the EU institutional reaction to the Euro-area sovereign debt problems, focusing in particular on the new architecture designed to avert a financial crisis. It analyses i) the European Financial Stabilisation ... |
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Solving the Financial and Sovereign Debt Crisis in Europe
This paper examines the policies that have been proposed to solve the financial and sovereign debt crisis in Europe, against the backdrop of what the real underlying problems are: extreme differences in competitiveness; the absence of a growth ... |
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The Financial Industry in the New Regulatory Landscape
The financial market outlook and risks as well as the impact of regulatory reforms on the financial sector were the topics discussed at the October 2011 OECD Financial Roundtable. Concerns about the current situation in financial markets were ... |
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Highlights from the OECD Sovereign Borrowing Outlook 2012
OECD governments are facing unprecedented challenges in the markets for government securities as a result of continued strong borrowing amid a highly uncertain environment with growing concerns about the pace of recovery, surging borrowing costs ... |
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The Future of Debt Markets
Discussions at the 12th OECD-WBG-IMF Global Bond Market Forum focused on three key areas related to the future of debt markets: i) the challenges facing new and infrequent sovereign issuers in assuring durable market access in frontier and emerging ... |
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Index of Recent Features
This Index of Special Features covers FMT issues from Vol. 2008/2, Dec 2008, through to the 2011 Special Supplement. |
This issue of Financial Market Trends compiles, as always, the articles that have been released online over the past few months. It features, as Part I, selected articles based on presentations given at the Symposium on “Financial crisis management ...
Experience illustrates that, for successful crisis management, there is no substitute for early intervention and, if possible, a private sector solution in preserving value in the firm and limiting externalities. Early intervention, in turn, calls ...
Sovereigns effectively provided the function of guarantor-of-last resort in response to the 2008/09 banking crisis, and recent bank funding challenges have led to renewed calls for explicit sovereign bank debt guarantees. The present paper focuses ...
The government guarantees on bank bonds adopted in 2008 in many advanced economies to support the banking systems were broadly effective in resuming bank funding and preventing a credit crunch. The guarantees, however, also caused distortions in the ...
This paper presents an application of the SYMBOL model, which was recently developed by the European Commission. In this application, we assess the potential impact of a crisis in the banking sector on public finances in four EU Member States chosen ...
This paper discusses the fault lines in cross-border banking, both at the global level and at the European Union/European Economic Area (EU/EEA) level, using the case of the three Icelandic cross-border banks as an example. Cross-currency liquidity ...
Neither the achievement of price stability, via the Monetary Policy Committee (MPC), nor the application of micro-prudential oversight, via the Financial Services Authority (FSA), led to overall financial stability. There is a gap that needs to be ...
This article discusses the roles and responsibilities of the various agencies that are part of the financial system safety net, and it sets out a framework for the decision-making process for these actors in the management of a financial crisis. In ...
One important element of the response to the crisis in Germany was the establishment of a new institution, the Bundesanstalt für Finanzmarktstabilisierung (Federal Agency for Financial Market Stabilisation, henceforth FMSA). The aim was to ...
This paper analyses what has been the EU institutional reaction to the Euro-area sovereign debt problems, focusing in particular on the new architecture designed to avert a financial crisis. It analyses i) the European Financial Stabilisation ...
This paper examines the policies that have been proposed to solve the financial and sovereign debt crisis in Europe, against the backdrop of what the real underlying problems are: extreme differences in competitiveness; the absence of a growth ...
The financial market outlook and risks as well as the impact of regulatory reforms on the financial sector were the topics discussed at the October 2011 OECD Financial Roundtable. Concerns about the current situation in financial markets were ...
OECD governments are facing unprecedented challenges in the markets for government securities as a result of continued strong borrowing amid a highly uncertain environment with growing concerns about the pace of recovery, surging borrowing costs ...
Discussions at the 12th OECD-WBG-IMF Global Bond Market Forum focused on three key areas related to the future of debt markets: i) the challenges facing new and infrequent sovereign issuers in assuring durable market access in frontier and emerging ...
This Index of Special Features covers FMT issues from Vol. 2008/2, Dec 2008, through to the 2011 Special Supplement.
