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Canada Financial Sector Assessment Program-Impact on the Insurance Sector of a Low Interest Rate Environment-Technical Note

This paper discusses Canada’s Financial Sector Assessment Program (FSAP) impact on the insurance sector of a low interest rate environment. It highlights that actuarial standards on valuation of liabilities require that assumed reinvestment rates take increasing account of current market rates that...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2014
Series:IMF Staff Country Reports
Subjects:
Insurance Companies
Finance, Public
Public Administration
Institutional Investors
Asset Requirements
Income
Pension Funds
Capital Adequacy Requirements
Finance
Industries: Financial Services
Financial Institutions
Personal Income
Financial Instruments
Public Finance Accounting
Financial Institutions And Services: Government Policy And Regulation
Personal Income, Wealth, And Their Distributions
National Accounts
Non-bank Financial Institutions
Accounting
Banks And Banking
Public Sector Accounting And Audits
Macroeconomics
Financial Regulation And Supervision
Public Financial Management (pfm)
Accounting Standards
Actuarial Studies
Financial Services Law & Regulation
Insurance
Insurance & Actuarial Studies
Canada
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper discusses Canada’s Financial Sector Assessment Program (FSAP) impact on the insurance sector of a low interest rate environment. It highlights that actuarial standards on valuation of liabilities require that assumed reinvestment rates take increasing account of current market rates that led to higher liabilities as low rates persisted. The note outlines the effect of Canadian accounting and actuarial standards that further increases in liabilities need to be recognized in the short term. Policy measures have been undertaken by Office of the Superintendent of Financial Institutions (OSFI) in the banking sector to address broader risks
Physical Description:23 pages
ISBN:9781484330272

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