The effect of solvency regulations and accounting standards on long-term investing : implications for insurers and pension funds / Clara Severinson; Juan Yermo

Severinson, Clara ; Yermo, Juan *1972-*

Englisch

Paris : OECD, 2012

Online-Ressource : graph. Darst.

Zsfassung in franz. Sprache

Systemvoraussetzungen: Acrobat Reader

DOI: 10.1787/5k8xd1nm3d9n-en

*Finance and Investment

Amtsdruckschrift / Government document / Arbeitspapier / Working paper / Online-Publikation / Online publication

Journal of Economic Literature: G32

Journal of Economic Literature: G01

Journal of Economic Literature: G15

Journal of Economic Literature: G23

Journal of Economic Literature: E32

Journal of Economic Literature: J33

Journal of Economic Literature: M40

Journal of Economic Literature: M52

Journal of Economic Literature: K20

Journal of Economic Literature: D21

This report reviews recent as well as planned changes to accounting and solvency regulations affecting insurers and pension funds and how they may impact long-term investing by these institutions. The review of existing evidence focuses mainly on the impact of risk-based solvency requirements, identifying instances where such regulations may have driven changes in investment strategies and potentially led to pro-cyclical investment behaviour such as the fire-sale of assets in market downturns. The report concludes with a note of caution regarding the application of strict fair value and risk-based solvency rules.

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