Recent years have seen a trend in many jurisdictions towards the adoption of short-form disclosure documents for retail financial products. This has been noted by the International Organization of Securities Commissions (IOSCO) in a recent consultation report on retail structured products, which stated as follows: Regulatory tool: Consistent with their respective legal frameworks, IOSCO members...

Makes recommendations on how the financial system can most effectively help the Australian economy be productive, grow and meet the financial needs of Australians. Executive summary Objectives and principles This Inquiry’s objective is to assess, and make recommendations on, how the financial system can most effectively help the Australian economy be productive, grow and meet...

Sets the direction for improving financial literacy in New Zealand and establishes a high-level framework under which financial education initiatives are co-ordinated and actioned. Introduction The vision outlined in this National Strategy is to equip everyone to ‘get ahead financially’. It sounds good, but what does it actually mean? And does ‘getting ahead’ resonate with...

A new study has found that Australian children are struggling with managing and saving money, and understanding financial risk.

This study analyzes systematic and non-systematic credit risk in mortgage portfolios given US loan-level information by controlling for time-varying observable information in relation to the borrower, the collateral and the macro economy. The total risk in relation to rating class default rates is decomposed into systematic and class-specic non-systematic risk by a state space model...