1 / 11

Programmatic Technical Assistance Partnership

This roundtable in Kyiv, March 2008 aims to discuss the programmatic technical assistance partnership in developing capital market conditions for the introduction and development of second pillar pensions. The program components include a macro-fiscal-financial strategy for second pillar pensions, framework for securities markets and NBFIs, securities market infrastructure, and domestic debt markets.

fidelm
Download Presentation

Programmatic Technical Assistance Partnership

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Programmatic Technical Assistance Partnership Developing capital market conditions for the introduction and development of second pillar pensions Roundtable Kyiv, March 2008

  2. Four program components: • Macro-fiscal-financial strategy for second pillar pensions • Framework for securities markets and NBFIs • Securities market infrastructure • Domestic debt markets (government bond markets)

  3. I. Macro-fiscal-financial strategy for second pillar pensions I.1. Achieving equilibrium of PAYGO pillar I.2. Financing the cost of transition to second pillar • Presentation on Alternative Macro-Fiscal-Financial Scenarios and Their Policy Implications - Thursday March 6 at 2pm

  4. II. Framework for securities markets and NBFIs II.1. Overall policy framework Ukraine/EU Extended Free Trade Agreement (FTA+) • pre-ratification phase • post-ratification phase

  5. II. Framework for securities markets and NBFIs (cont.) II.1. Overall policy framework Impact of FTA+ on capital markets • approximating Ukrainian legislation with EU capital market directives (e.g. MiFID) • achieving mutual recognition with EU capital market regulatory agencies: • IOSCO principles • IAIS principles • IOPS principles • adapting market participants and infrastructures to single market (e.g. MiFID)

  6. II. Framework for securities markets and NBFIs (cont.) II.2 Strengthening SCSSM towards IOSCO standards • US SEC Training Program • Twinning Program with EU regulator • Support from USAID and World Bank

  7. II. Framework for securities markets and NBFIs (cont.) II.3 Strengthening SCRFSM toward IAIS and IOPS standards • Twinning Program with EU regulator • Support from USAID and World Bank

  8. III. Securities market infrastructure • Increased competition between exchanges and multilateral trading facilities (MTFs) • Strategic alliances between domestic stock exchanges and exchanges abroad, including EU/US exchanges III.1 Stock Exchanges

  9. III. Securities market infrastructure (cont.) III.2 Depository System • Development of Central Depository

  10. IV. Domestic debt markets (domestic government bond market) • Reform Plan for government debt management and debt market development • Government Concept for development of the domestic government bond market • Support from USAID and World Bank to implementation of Government Concept • Coordination with other donors

  11. Thank you for your participation! You are welcome to contact us: Rick Gurley rgurley@usaid.gov Michel Noel mnoel@worldbank.org Natalia Berezhna nberezhna@usaid.gov Vitaliy Bigdai vbigdai@worldbank.org

More Related