Translation of "government savings institution " (English → French) :

The information concerning credit risk assessment was repeatedly requested from interested parties as it is considered crucial inter alia account taken of (i) the finding of the IMF 2006 report which suggested that the bank liberalisation in China is incomplete and credit risk is not properly reflected (56), (ii) the IMF 2009 report which highlighted the lack of interest rate liberalisation in China (57), (iii) the IMF 2010 Country Report which stated that cost of capital in China is relatively low, credit allocation is sometimes determined by non-price means and high corporate saving is partly linked to low cost of various factor inputs ...[+++] (including capital and land) (58) and (iv) the OECD 2010 Economic Survey of China (59) and OECD Economic Department Working Paper No. 747 on China's Financial Sector Reforms (60) which stated that ownership of financial institutions remains dominated by the State raising issues as the extent to which banks' lending decisions are based purely on commercial considerations while banks' traditional role appears to be that of government agencies with ties to the government.

F. whereas the imbalances of today are still caused primarily by a lack of competitiveness and private and public saving in the deficit countries, and high saving coupled with a lack of demand in the surplus countries, which today are greater in magnitude and whereas, in view of the high degree of globalisation and scale of capital flows, these imbalances make new demands on global governance and challenge the structures of existing institutional arrangeme ...[+++]nts;

Further, this Directive should not apply to the management of pension funds; employee participation or savings schemes; supranational institutions; national central banks; national, regional and local governments and bodies or institutions which manage funds supporting social security and pension systems; securitisation special purpose entities; or insurance contracts and joint ventures.

Further, this Directive should not apply to the management of pension funds; employee participation or savings schemes; supranational institutions; national central banks; national, regional and local governments and bodies or institutions which manage funds supporting social security and pension systems; securitisation special purpose entities; or insurance contracts and joint ventures.

Alignment with the acquis will also be required in the areas of investment rules for institutional investors (e.g. pension funds and savings and loan cooperatives), special rights of the government in privatised enterprises (telecoms, oil and electricity companies), as well as specific requirements regulating external exposure of the financial system and the elimination of remaining restrictions on short-term capital movements.

5.76. It might be useful analytically to allow for exceptions to the above conventions. Examples are savings deposits with general government and non-monetary gold swaps between monetary financial institutions (see paragraph 5.81. e) (66).