Financial Sector Assessment Program Update : Republic of Poland - Competition and Performance in the Polish Second Pillar

In March 1999, Poland implemented a systemic pension reform that involved the introduction of a multi-pillar pension system to replace the defined benefit (DB), pay-as-you-go (PAYG) system that had been operating since 1949. This technical note on...

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Bibliographic Details
Main Authors:	World Bank, International Monetary Fund
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCOUNT HOLDERS ACCOUNTING ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET MANAGER ASSET MANAGERS ASSET VALUE ASSET VALUES BANKING SYSTEM BASIS POINTS BENCHMARK BOND BINDING CONSTRAINT BOND INDEX BOND INSTRUMENTS BROKER BROKERS CAPITAL GAINS CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL REQUIREMENTS CLEARING HOUSE COLLECTIVE FUNDS CONSUMER PROTECTION CORPORATE BOND CORPORATE BOND MARKET CORPORATE BONDS CORPORATE GOVERNANCE CREDIT RISK CREDIT RISKS CURRENCY CUSTODIAN BANK CUSTODIAN BANKS CUSTODY DEBT ISSUES DEBT MANAGEMENT DEBT MANAGEMENT GUIDELINES DEFICITS DEPOSIT DEPOSITS DERIVATIVES DISCLOSURE REQUIREMENTS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC DEBT DOMESTIC EQUITY EQUITIES EQUITY FUNDS EQUITY HOLDINGS EQUITY INDEX EQUITY MARKET EQUITY MARKETS EXCESS LIQUIDITY EXCHANGE COMMISSION EXPENDITURE EXPENDITURES FINANCIAL ASSETS FINANCIAL INSTRUMENTS FINANCIAL RISK FINANCIAL STATEMENTS FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED INCOME FIXED INCOME PORTFOLIO FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTOR FOREIGN INVESTORS FREE ASSET FREE RIDER PROBLEM FUND MANAGEMENT FUND MANAGER FUND MANAGERS FUTURES GENERAL OBLIGATION BONDS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEFICIT GOVERNMENT SECURITIES GOVERNMENT SECURITIES INSTRUMENTS GOVERNMENT SECURITIES MARKET GRACE PERIOD GUARANTEE FUND HOLDING INCOME INSTRUMENTS INCOME SECURITY INDIVIDUAL BONDS INFLATION INFLATION RATE INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL DEBT INTERNATIONAL DIVERSIFICATION INTERNATIONAL STANDARDS INVESTING INVESTMENT BANK INVESTMENT FUND INVESTMENT FUNDS INVESTMENT HORIZONS INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT REGIME INVESTMENT REGULATION INVESTMENT RESTRICTIONS ISSUANCE JOINT STOCK COMPANIES LABOR MARKETS LIQUID BENCHMARKS LIQUID INSTRUMENTS LIQUIDITY LIQUIDITY RATIO LOCAL GOVERNMENTS LOCAL MARKET LONG-TERM INVESTOR MARKET CAPITALIZATION MARKET CONDITIONS MARKET FOR GOVERNMENT DEBT MARKET INFRASTRUCTURE MARKET LIQUIDITY MARKET PRICES MARKET SHARES MARKET STRUCTURE MATURITIES MATURITY MATURITY SPECTRUM MATURITY STRUCTURE MONETARY FUND MORAL HAZARD MORTGAGE MORTGAGE BOND MORTGAGE BOND MARKET MORTGAGE BONDS MORTGAGE LOANS MORTGAGE-BACKED SECURITIES MUNICIPAL BOND MUNICIPAL BOND MARKET MUNICIPAL BONDS MUTUAL FUND MUTUAL FUNDS NATIONAL DEPOSITORY NATIONAL SAVINGS PENSION PENSION ASSETS PENSION FUND PENSION FUND ASSETS PENSION FUNDS PENSION REFORM PENSION SYSTEM PENSION SYSTEMS PENSIONS PORTFOLIO PORTFOLIO DIVERSIFICATION PORTFOLIOS PORTFOLIOS OF PENSION FUNDS PRIVATE EQUITY PRIVATE INVESTMENT PROFIT MARGINS PUBLIC DEBT RATE OF RETURN RATES OF RETURN REAL INTEREST REAL INTEREST RATES REGULATORY FRAMEWORK REINVESTMENT REINVESTMENT RISK REINVESTMENT RISKS RESERVE RESERVE REQUIREMENT RESERVES RETURNS REVENUE BOND REVENUE BONDS RISK EXPOSURES RISK MANAGEMENT RISK MANAGEMENT SYSTEMS RISKY ASSET SAVINGS RATES SAVINGS RATIOS SECURITIES SHARE OF EQUITY SHARE OF GOVERNMENT BONDS SHARE OF GOVERNMENT SECURITIES SHAREHOLDERS SHARES OF INVESTMENT SHARES OF INVESTMENTS STOCK EXCHANGE STOCKS STRATEGIC INVESTORS SUB-NATIONAL ENTITIES SUPERVISORY AUTHORITIES SUPERVISORY BOARD SWAPS T-BILLS T-BONDS TAX TAX INCENTIVES TRADING TRANSFER AGENTS TREATY TURNOVER UNDERLYING ASSETS UNIVERSAL BANKING UNIVERSAL BANKS VALUATION VALUATIONS WITHDRAWAL YIELD CURVE YIELD CURVES YIELD SPREADS
Online Access:	http://documents.worldbank.org/curated/en/2006/10/18019654/poland-competition-performance-polish-second-pillar-technical-note http://hdl.handle.net/10986/16052

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http://documents.worldbank.org/curated/en/2006/10/18019654/poland-competition-performance-polish-second-pillar-technical-note
http://hdl.handle.net/10986/16052

Financial Sector Assessment Program Update : Republic of Poland - Competition and Performance in the Polish Second Pillar

Internet

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