Carmichael, JeffreyPomerleano, Michael2013-08-202013-08-202002-030-8213-4839-6https://hdl.handle.net/10986/15236Non-bank financial institutions (NBFIs) are becoming an increasingly important segment of the financial system in some developing countries. This book aims to create awareness of the promise of NBFIs for developing countries and to assist policymakers in creating a coherent policy structure and a sound regulatory and supervisory environment for their development. The first chapter offers a coherent policy framework for addressing the regulation of NBFIs and the second chapter addresses the principles for regulation. Subsequent chapters provide an overview of the insurance industry, mutual funds and pension schemes, leasing and real estate companies, and securities markets, and discusses the specific regulatory framework for these institutions. The final chapter explores development policy challenges confronting emerging markets.en-USCC BY 3.0 IGONON-BANK FINANCIAL INSTITUTIONSREGULATORY FRAMEWORKCONTRACTUAL SAVINGSREGULATORY STRUCTUREINSURANCE COMPANIESSECURITIES MARKETSLEASING ARRANGEMENTSMORTGAGESREAL ESTATE BUSINESS ACCOUNTABILITYACCOUNTINGACTUARIESAFFILIATESANNUITIESANNUITYARBITRAGEASSET MANAGEMENTASYMMETRIC INFORMATIONBALANCE SHEETBANKSBOND MARKETSBONDSBROKERSBUILDING SOCIETIESCAPITAL MARKETSCAPITAL REQUIREMENTSCASUALTY INSURANCECOMMON STOCKCONCEPTUAL FRAMEWORKCONTINGENT LIABILITIESCONTRACTUAL SAVINGSCONTRACTUAL SAVINGS INSTITUTIONSCORPORATE GOVERNANCECOVERAGECREDIT UNIONSDEBTDEFAULT RISKDEFICITSDEPOSITORSDEPOSITSDERIVATIVESDISASTERSECONOMIC FACTORSECONOMIC GROWTHECONOMIC RISKSECONOMICSECONOMIES OF SCALEEMERGING MARKETSEMPIRICAL EVIDENCEEMPLOYMENTEQUITY MARKETSFACE VALUEFEDERAL RESERVE SYSTEMFIDUCIARYFIDUCIARY DUTIESFINANCIAL CONGLOMERATESFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL INTERMEDIARIESFINANCIAL INTERMEDIARY DEVELOPMENTFINANCIAL INTERMEDIATIONFINANCIAL MARKETSFINANCIAL REGULATIONFINANCIAL RESOURCESFINANCIAL SERVICESFINANCIAL SUPERVISIONFINANCIAL SYSTEMSFIXED PREMIUMSFUTURESGENERAL INSURANCEHEDGE FUNDSHOUSINGHOUSING FINANCEINCOMEINSPECTIONSINSURANCEINSURANCE COMPANIESINSURANCE CONTRACTSINSURANCE POLICIESINSURED RISKSINSURERSINTERNAL CONTROLSINTERNATIONAL FINANCEINVENTORIESINVESTMENT BANKSINVESTMENT PRODUCTSLAWSLEASED ASSETSLEGAL FRAMEWORKLIFE INSURANCELIFE INSURANCE COMPANIESLIQUIDATIONLIQUIDITYMANDATESMARKET PRICESMARKET VALUEMICROFINANCEMORAL HAZARDMORTGAGESMUTUAL FUNDSNEGOTIABLE INSTRUMENTSNON-LIFE INSURANCENONBANK FINANCIAL INSTITUTIONSOFFERINGSPENSION FUNDSPENSION PLANSPENSIONSPORTFOLIOSPREMIUMSPROGRAMSPROPERTY INSURANCEPROPERTY OWNERSHIPPURCHASING POWERRATING AGENCIESREAL ESTATE FINANCEREGULATORY OBJECTIVESRESERVE BANK OF AUSTRALIARESOURCE ALLOCATIONRETIREMENTSAVINGSSECURITIESSECURITIES MARKETSSETTLEMENT SYSTEMSSOCIAL SECURITYSOLVENCYSYSTEMIC INSTABILITYTAXATIONTECHNICAL ASSISTANCETRADING SYSTEMSTRANSPARENCYUNDERWRITINGUNEMPLOYMENTUNEMPLOYMENT INSURANCEWorld Bank10.1596/0-8213-4839-6