Financial education for 7 to 19-year-olds in Wales: guidance for schools and colleges

"This document provides guidance on the provision of financial education for 7 to 19-year-olds in schools and colleges in Wales. It identifies the opportunities for the provision of financial education and provides guidance on learning and teaching strategies. It also includes advice on teaching resources and working with partners in developing and delivering a planned approach to the provision of financial education." - Page 2

Monetary policy, the provision of financial stability and banking supervision

This note discusses why it might be desirable for a central bank to have a microprudential supervisory role and why a single micro-prudential supervisor might be better than a collection of national supervisors. It argues that central banks should not be macro-prudential supervisors. It describes the skills that are necessary when a central bank is the provider of financial stability and the bank supervisor, as well as the monetary policy maker. It describes the institutional features of a central bank that are necessary if providing financial stability and bank supervision are to be regarded as legitimate roles for the central bank in a democratic society. It suggests how the accountability that is necessary for carrying out these political tasks can be squared with the independence required for monetary policy

Financial Literacy and Retirement Planning in View of a Growing Youth Demographic: The Russian Case

Our study contributes to the financial literacy literature by examining its association with retirement planning in an interesting and novel context, i.e. that of a country with a relatively old and rapidly ageing population, large regional disparities and a rapidly emerging financial market. Even though consumer borrowing is increasing very rapidly in Russia, we find that only 36.3% of respondents in our sample know about the working of interest compounding and only half can answer a simple question about inflation. In a country with pervasive public pension provision, we find that financial literacy is significantly and positively related to retirement planning using private pension funds and schemes. Residents in rural areas are much more reliant on the public provision and invest less in private schemes and savings. The results of our study have a clear policy implication; along with encouraging the availability of private retirement plans and financial products, efforts to improve financial literacy can be pivotal to the expansion in the use of such schemes

Determination of audit activity in modern conditions

The task of compulsory audit of financial statements is the provision of reasonable assurance that is accepted and performed by the entity in accordance with the requirements of this Law and international standards of audit by checking the financial statements or consolidated financial statements in order to express an independent opinion of the auditor on its compliance with all significant aspects and compliance with the requirements of international financial reporting standards or national accounting (statutory) standards and laws of Ukraine

Determination of audit activity in modern conditions

The task of compulsory audit of financial statements is the provision of reasonable assurance that is accepted and performed by the entity in accordance with the requirements of this Law and international standards of audit by checking the financial statements or consolidated financial statements in order to express an independent opinion of the auditor on its compliance with all significant aspects and compliance with the requirements of international financial reporting standards or national accounting (statutory) standards and laws of Ukraine

The Efficiency and Stability of Banks and Markets

Traditionally, financial systems have been bank-based or market-based. The efficiency properties of these systems are compared in various dimensions. These include risk sharing, information provision, funding new industries, corporate governance, and law, finance and politics. Both systems have advantages and disadvantages. With regard to stability, both bank-based and market-based systems are subject to crises. Going forward a financial system with financial intermediaries and markets would have many advantages and few disadvantages.

CDFIs Stepping into the Breach: An Impact Evaluation—Summary Report

This report summarizes research undertaken by the Carsey School of Public Policy to evaluate impacts of the Community Development Financial Institutions (CDFI) Fund on CDFIs and of the CDFI industry on the people and communities it serves. In summary, we find a variety of evidence indicating that CDFIs are advancing the statutory purposes of the CDFI Fund to promote economic revitalization and community development through the provision of credit, capital and financial services to underserved populations and communities in the United State

International liquidity provision during the financial crisis: a view from Switzerland

The authors document the provision of liquidity in Swiss francs (CHF) by the Swiss National Bank (SNB) to banks located outside Switzerland during the recent financial crisis. What makes the Swiss case special is the size of this liquidity provision—at times, 80 percent of all short-term CHF liquidity provided by the SNB—and the measures adopted to distribute this liquidity. In addition to making CHF available to other central banks via swap facilities, the SNB also allows banks outside Switzerland to directly participate in its repurchase agreement transactions. Although this policy was adopted for reasons predating the 2007-09 financial crisis, it proved tremendously helpful during the crisis by providing the European banking system direct access to the primary funding facility for CHF.Liquidity (Economics) ; Financial crises ; Switzerland