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Severinson, Clara ; Yermo, Juan

The Effect of Solvency Regulations and Accounting Standards on Long-Term Investing

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  • Media type: E-Article
  • Title: The Effect of Solvency Regulations and Accounting Standards on Long-Term Investing : Implications for Insurers and Pension Funds
  • Parallel title: Les effets des normes prudentielles et comptables sur l'investissement à long terme : conséquences pour les assureurs et les fonds de pensions
  • Other titles: Les effets des normes prudentielles et comptables sur l'investissement à long terme conséquences pour les assureurs et les fonds de pensions
  • Contributor: Severinson, Clara
  • imprint: Paris : OECD Publishing, 2012.
  • Published in: OECD Working Papers on Finance, Insurance and Private Pensions ; no.30
  • Language: English
  • DOI: https://doi.org/10.1787/5k8xd1nm3d9n-en
  • Identifier:
  • Keywords: Finance and Investment
  • Origination:
  • Footnote:
  • Description: 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.