Capital Markets And Non Bank Financial Institutions In Romania

Download or read book Capital Markets And Non-bank Financial Institutions In Romania written by Ramin Shojai and published by World Bank Publications. This book was released on 2005 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Development and Regulation of Non-bank Financial Institutions written by Jeffrey Carmichael and published by World Bank Publications. This book was released on 2002-01-01 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to create an awareness of the potential of non-bank financial institutions (NBFIs) for developing countries, and to assist policy makers in the creation of coherent policy structures and effective regulatory systems for the development of these institutions. It considers the essential functions and characteristics of non-bank financial institutions and includes chapters on insurance companies, mutual funds and pension schemes, securities markets, and leasing and real estate companies.

Download or read book Capital Markets and Non-bank Financial Institutions in Romania written by Ramin Shojai and published by World Bank Publications. This book was released on 2005 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Markets and Non-bank Financial Institutions in Romania is part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stimulate public discussion. 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. During 2003 and 2004, the Romanian authorities made significant efforts to draft, adopt, and enact new legislation to align Romania with EU financial directives. Despite these efforts, however, challenges remain in the area of supervisory capacity and the implementation of laws and regulations. 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.

Download or read book Capital Markets and Non-bank Financial Institutions in Romania written by Ramin Shojai and published by World Bank Publications. This book was released on 2005 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Markets and Non-bank Financial Institutions in Romaniais part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stimulate public discussion. 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. During 2003 and 2004, the Romanian authorities made significant efforts to draft, adopt, and enact new legislation to align Romania with EU financial directives. Despite these efforts, however, challenges remain in the area of supervisory capacity and the implementation of laws and regulations. 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.

Download or read book Capital Market Review of Romania Towards a National Strategy written by OECD and published by OECD Publishing. This book was released on 2022-06-27 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication provides a comprehensive overview of capital markets in Romania, focusing on conditions for stock market listing, secondary stock market liquidity, growth markets, modalities for household savings, institutional investors and market-based debt financing.

Download or read book Institutional Investors and Securities Markets written by Dimitri Vittas and published by World Bank Publications. This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: December 1998 The answer varies by type of investor. Pension funds and insurance companies should be promoted for their own sake, but mutual funds are unlikely to thrive without well-regulated securities markets. Anglo-American experience suggests that institutional investors can provide a strong stimulus to market development. This takes time and requires both critical mass and conducive regulations. Institutional investors comprise pension funds, insurance companies, and mutual funds. Should a country promote their creation if it lacks well-developed securities markets? The answer to this question, says Vittas, varies by type of investor. He argues that private pension funds and insurance companies are promoted for their own sake and for their potential economic, fiscal, and financial benefits, whether or not a country already has well-developed securities markets. Mutual funds, by contrast, are unlikely to thrive without strong and well-regulated securities markets. A limited supply of financial instruments should not be a major obstacle to the creation of pension funds and insurance companies. Such institutions build up their financial resources gradually but steadily, giving reforming governments ample time to develop securities markets. More important than the prior development of securities markets is a strong and lasting political commitment to holistic reform: macroeconomic, fiscal, banking, and capital market reform, as well as pension and insurance reform. Institutional investors need to attain critical mass and to be supported by conducive regulations. Vittas reviews Anglo-American experience since the 1940s. This shows that institutional investors can serve as a countervailing force to commercial and investment banks, helping to stimulate financial innovation, modernize capital markets, enhance transparency and disclosure, strengthen corporate governance, and improve financial regulation. This paper-a product of Finance, Development Research Group-was presented at the Annual Bank Conference on Development Economics, Latin America and the Caribbean, June 18-30, 1998, in San Salvador. The author may be contacted at [email protected].

Download or read book Germany written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-06-29 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the risks and vulnerabilities of the German financial system and reviews both the German regulatory and supervisory framework and implementation of the common European framework insofar as it is relevant for Germany. The country is home to two global systemically important financial institutions, Deutsche Bank AG and Allianz SE. The system is also very heterogeneous, with a range of business models and a large number of smaller banks and insurers. The regulatory landscape has changed profoundly with strengthened solvency and liquidity regulations for banks (the EU Capital Requirements Regulation and Directive IV), and the introduction of macroprudential tools.