Risk transfers represent a preferred method for removing pension liabilities from corporate balance sheet. We examine the role of institutional shareholders on firm’s decision to offload pension liabilities to professional risk managers. We find that the likelihood of pension risk transfers is...

The report assesses compliance with the terms and conditions set out in the updated MoU. The MoU was updated following the fourth review mission and was agreed between the Cypriot authorities and the programme partners, i.e. the European Commission (EC), the European Central Bank (ECB), and the...

Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Nicosia from 6 May to 17 May 2014 for the fourth review of Cyprus' economic adjustment programme, which is supported by financial assistance from the European Stability...