Artikelen

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The shipping industry has seen significant changes in recent years with regards to the availability of financing. This article explores how treasury processes can be more efficient and how working capital can be managed more effectively.

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The standards in this report harmonise and, where appropriate, strengthen the existing international standards for payment systems that are systemically important, central securities depositories (CSDs), securities settlement systems (SSSs), and central counterparties (CCPs). The revised standards also incorporate additional guidance for over-the-counter (OTC) derivatives CCPs and trade repositories (TRs). In general, these standards are expressed as broad principles in recognition that FMIs can differ in organisation, function, and design, and that there are often different ways to achieve a particular result.

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This paper study how and to what extent private households are affected by the recent fnancial crisis and how their financial decisions are influenced by this shock. Our analysis reveals that individuals with low levels of nancial literacy are less likely to have invested in the stock market and thus are less likely to report losses in wealth. Yet, individuals with low financial literacy are more likely to sell their assets which lost in value (realize losses). This reaction to short-term losses has potential longterm consequences if individuals do not participate in markets' recovery and face lower returns in the long run.

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The financial crisis stemmed, in large part, from poor financial decisions and heightened financial distress among households around the world. The years prior to the crisis saw many people making bad financial choices from taking on levels of debt that they were not able to manage, to spending beyond their means. The US sub-prime mortgage market, in which people with poor credit history and income prospects took on debt which they could not afford, is the best known example of this phenomenon but, closer to home, there are numerous examples of European households facing financial woes because of poor financial behaviour.

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The global credit crunch is the single hottest topic of conversation among treasurers, and they also view it as their greatest challenge in the short and long term. This challenge is not simply defined by difficulty in borrowing and cash management, but by a permanent change in the way financial risk is identified and managed.

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In an environment where every treasurer is tasked to do more with less, the role of technology is crucial in facilitating both operational and strategic enhancements to the business. What are the latest innovations in financial technology?

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The Basel II Framework envisions that over time the operational risk discipline will mature and converge toward a narrower band of effective risk management and risk measurement practices. Understanding the current range of observed operational risk management and measurement practices, both within and across geographic regions, contributes significantly to the SIGOR’s efforts to establish consistent supervisory expectations...

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This paper studies the relationship between the structure of housing finance and the monetary transmission mechanism in several industrialized countries. We first show that there is significant heterogeneity in the institutional characteristics of national mortgage markets across the main industrialized countries, and especially within the EU...

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This paper analyses the importance of common factors in shaping non-fuel commodity price movements for the period 1957-2008. For this purpose, a dynamic factor model is estimated using Kalman Filtering techniques...