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This work seeks to describe the role that actors in charge of financial system oversight should play in the future to prevent a crisis similar to the current financial crisis and- should prevention fail- to mitigate its effects. Against this backdrop, the work examines the role of supranational financial supervision as part of a regionally integrated financial system.

Finance --- Financial Markets.

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Sustainable development of enterprises is a process of quantitative and qualitative changes aimed at achieving favorable results in economic, social and environmental dimensions. One of the key factors affecting the sustainable development of enterprises is the financial standing, identified with the general financial and property situation of the enterprise, its credibility and ability to settle liabilities. The main objective of the monograph is to assess the impact of the financial standing on the sustainable development of enterprises according to the section of Polish Classification of Economic Activities in 2008-2019. The implementation of the research objective required the use of the method of critical and retrospective review of selected literature on the subject (Polish and foreign), cause-and-effect analysis, creation of econometric models. The layout of the work was subordinated to the verification of the adopted main hypothesis - Financial standing has a statistically significant impact on the sustainable development of enterprises according to the section of Polish Classification of Economic Activities in 2008-2019". The monograph consists of an introduction, six chapters, conclusion, bibliography, list of figures, tables and charts. The introduction contains a synthetic approach to the issues, the main hypothesis and sub-hypotheses. The first two chapters are theoretical and related to the sustainable development of enterprises and the financial standing as its determinant. The third chapter presents the research methodology. The next three chapters present the empirical analysis. At the end, a summary and conclusions resulting from the research are presented.

Economy --- Financial Markets

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econometrics --- economics --- finance --- financial markets --- financial institutions --- econometric methods

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We study the link between the probability of default implied by Credit Default Swaps (CDS) spreads and the final prices of the defaulted bonds as established at the CDS settlement auctions. We observe that the post-default recovery rates at the observed spreads imply markets were often “surprised” by the credit event. We find that the prices of the bonds that are deliverable at the auctions imply probabilities of default that are systematically different than the default probabilities estimated prior to the event of default using standard methodologies. We discuss the implications for CDS pricing models. We analyze the discrepancy between the actual and theoretical CDS spreads and we find it is significantly associated both to the CDS market microstructure at the time of the settlement auction and to the general macroeconomic background. We discuss the potential for strategic bidding behavior at the CDS settlement auctions.

Bonds. --- Credit derivatives. --- Financial markets. --- International Monetary Fund. --- United States

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Following the guidance on the Board of Governors Resolution No. 72-1 (December 2016), on September 21, 2018, the Executive Board discussed and adopted its third semi-annual report on progress on the Fifteenth Review. The report covered additional issues relating to both the adequacy of Fund resources and the quota formula and realigning quota shares, discussed in an informal meeting on July 30, 2018.

Meetings. --- Emerging and frontier financial markets --- Finance --- Finance: General --- Financial services industry --- General Financial Markets: General (includes Measurement and Data)