IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The Effect of Solvency Regulations and Accounting Standards on Long-Term Investing: Implications for Insurers and Pension Funds

  • Clara Severinson
  • Juan Yermo
Registered author(s):

    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. Les effets des normes prudentielles et comptables sur l'investissement à long terme : conséquences pour les assureurs et les fonds de pensions Ce rapport passe en revue les modifications récentes et à venir des règles prudentielles et comptables applicables aux assureurs et aux fonds de pension, ainsi que leur impact sur les stratégies d’investissement à long terme de ces institutions. L’examen des données factuelles porte principalement sur l’impact des exigences de solvabilité fondées sur les risques, met en lumière les cas où ces règles ont pu se traduire par un ajustement des stratégies d’investissement, et potentiellement déboucher sur des comportements d’investissement procycliques, comme le bradage des actifs en période de baisse des marchés. Le rapport conclut en mettant en garde contre une application trop stricte des règles prudentielles basées sur les risques et du principe de la juste valeur.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://dx.doi.org/10.1787/5k8xd1nm3d9n-en
    Our checks indicate that this address may not be valid because: 403 Forbidden (http://dx.doi.org/10.1787/5k8xd1nm3d9n-en [303 See Other]--> http://www.oecd-ilibrary.org/finance-and-investment/the-effect-of-solvency-regulations-and-accounting-standards-on-long-term-investing_5k8xd1nm3d9n-en). If this is indeed the case, please notify ()


    Download Restriction: no

    Paper provided by OECD Publishing in its series OECD Working Papers on Finance, Insurance and Private Pensions with number 30.

    as
    in new window

    Length:
    Date of creation: 07 Dec 2012
    Date of revision:
    Handle: RePEc:oec:dafaad:30-en
    Contact details of provider: Postal: 2 rue Andre Pascal, 75775 Paris Cedex 16
    Phone: 33-(0)-1-45 24 82 00
    Fax: 33-(0)-1-45 24 85 00
    Web page: http://www.oecd.org
    Email:


    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:oec:dafaad:30-en. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.