Moving Toward Risk Based Regulation
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Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 251 |
Release | : 2010-04-09 |
Genre | : |
ISBN | : 926408293X |
This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Author | : Lawrence D. Cluff |
Publisher | : DIANE Publishing |
Total Pages | : 187 |
Release | : 2000 |
Genre | : |
ISBN | : 0788186701 |
Author | : Greg Brunner |
Publisher | : World Bank Publications |
Total Pages | : 238 |
Release | : 2008-04-01 |
Genre | : Business & Economics |
ISBN | : 082137494X |
'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.
Author | : National Research Council |
Publisher | : National Academies Press |
Total Pages | : 589 |
Release | : 2010-11-04 |
Genre | : Medical |
ISBN | : 0309163587 |
Recent outbreaks of illnesses traced to contaminated sprouts and lettuce illustrate the holes that exist in the system for monitoring problems and preventing foodborne diseases. Although it is not solely responsible for ensuring the safety of the nation's food supply, the U.S. Food and Drug Administration (FDA) oversees monitoring and intervention for 80 percent of the food supply. The U.S. Food and Drug Administration's abilities to discover potential threats to food safety and prevent outbreaks of foodborne illness are hampered by impediments to efficient use of its limited resources and a piecemeal approach to gathering and using information on risks. Enhancing Food Safety: The Role of the Food and Drug Administration, a new book from the Institute of Medicine and the National Research Council, responds to a congressional request for recommendations on how to close gaps in FDA's food safety systems. Enhancing Food Safety begins with a brief review of the Food Protection Plan (FPP), FDA's food safety philosophy developed in 2007. The lack of sufficient detail and specific strategies in the FPP renders it ineffectual. The book stresses the need for FPP to evolve and be supported by the type of strategic planning described in these pages. It also explores the development and implementation of a stronger, more effective food safety system built on a risk-based approach to food safety management. Conclusions and recommendations include adopting a risk-based decision-making approach to food safety; creating a data surveillance and research infrastructure; integrating federal, state, and local government food safety programs; enhancing efficiency of inspections; and more. Although food safety is the responsibility of everyone, from producers to consumers, the FDA and other regulatory agencies have an essential role. In many instances, the FDA must carry out this responsibility against a backdrop of multiple stakeholder interests, inadequate resources, and competing priorities. Of interest to the food production industry, consumer advocacy groups, health care professionals, and others, Enhancing Food Safety provides the FDA and Congress with a course of action that will enable the agency to become more efficient and effective in carrying out its food safety mission in a rapidly changing world.
Author | : Binglin Yang |
Publisher | : Routledge |
Total Pages | : 215 |
Release | : 2011-07-27 |
Genre | : Business & Economics |
ISBN | : 1136640258 |
Using a diffusion approach and comparisons between Australia and the U.S., this book examines the question: what are the barriers keeping the American coal mining industry and the U.S. government from moving toward risk-based governance?
Author | : |
Publisher | : Lulu.com |
Total Pages | : 294 |
Release | : 2004 |
Genre | : Bank capital |
ISBN | : 9291316695 |
Author | : Tobias Adrian |
Publisher | : International Monetary Fund |
Total Pages | : 53 |
Release | : 2018-08-01 |
Genre | : Business & Economics |
ISBN | : 1484343913 |
The evolution of risk management has resulted from the interplay of financial crises, risk management practices, and regulatory actions. In the 1970s, research lay the intellectual foundations for the risk management practices that were systematically implemented in the 1980s as bond trading revolutionized Wall Street. Quants developed dynamic hedging, Value-at-Risk, and credit risk models based on the insights of financial economics. In parallel, the Basel I framework created a level playing field among banks across countries. Following the 1987 stock market crash, the near failure of Salomon Brothers, and the failure of Drexel Burnham Lambert, in 1996 the Basel Committee on Banking Supervision published the Market Risk Amendment to the Basel I Capital Accord; the amendment went into effect in 1998. It led to a migration of bank risk management practices toward market risk regulations. The framework was further developed in the Basel II Accord, which, however, from the very beginning, was labeled as being procyclical due to the reliance of capital requirements on contemporaneous volatility estimates. Indeed, the failure to measure and manage risk adequately can be viewed as a key contributor to the 2008 global financial crisis. Subsequent innovations in risk management practices have been dominated by regulatory innovations, including capital and liquidity stress testing, macroprudential surcharges, resolution regimes, and countercyclical capital requirements.
Author | : Cary Coglianese |
Publisher | : Brookings Institution Press |
Total Pages | : 360 |
Release | : 2016-12-20 |
Genre | : Political Science |
ISBN | : 0815728433 |
Whether striving to protect citizens from financial risks, climate change, inadequate health care, or the uncertainties of the emerging “sharing” economy, regulators must routinely make difficult judgment calls in an effort to meet the conflicting demands that society places on them. Operating within a political climate of competing demands, regulators need a lodestar to help them define and evaluate success. Achieving Regulatory Excellence provides that direction by offering new insights from law, public administration, political science, sociology, and policy sciences on what regulators need to do to improve their performance. Achieving Regulatory Excellence offers guidance from leading international experts about how regulators can set appropriate priorities and make sound, evidence-based decisions through processes that are transparent and participatory. With increasing demands for smarter but leaner government, the need for sound regulatory capacity—for regulatory excellence—has never been stronger.
Author | : Pete V. Domenici |
Publisher | : Rowman & Littlefield |
Total Pages | : 306 |
Release | : 2006 |
Genre | : Philosophy |
ISBN | : 9780742541894 |
The senior Senator from New Mexico, Pete V. Domenici, has written a thoughtful assessment of the progress Americans have made in their efforts to bring the benefits of nuclear power to mankind. He outlines what went wrong and why, and in this noble quest, what we must now do to recover from and repudiate past blunders. Senator Domenici has been called Congress' chief apostle for nuclear power and in this book he shares his vision and passion for a renewed commitment, by this nation, and the rest of the world, to the dreams that nuclear energy can help us fulfill. It is also a book about what kind of world our grandchildren could inhabit if we fail in making and keeping such a commitment. Visit our website for sample chapters!
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publisher | : International Monetary Fund |
Total Pages | : 19 |
Release | : 2018-01-16 |
Genre | : Business & Economics |
ISBN | : 1484337425 |
This Technical Assistance Report discusses the recommendations made by the IMF mission to assist Uganda in moving toward risk-based supervision of insurance sector. It highlights that under the revised insurance legislation, the Insurance Regulatory Authority of Uganda (IRA) will be requiring nonlife insurers to provide certification for adequacy of technical provisions by an actuary as is currently required for life insurers. When the requirement comes into effect, it will be necessary for it to be supported by guidance from IRA in terms of its expectations for the actuarial reports to be filed. This will ensure consistency in reporting to the IRA and that the reports will provide the information needed by the IRA for supervisory purposes.