OECD calls for transparency.

Position:Organisation for Economic Co-operation and Development - Brief article

The Organisation for Economic Co-operation and Development (OECD) has established a series of key principies to help financial policy-makers as they look to achieve a resilient financial system for driving economic growth.

"We need to correct a number of failures, including those of regulation, supervision, corporate governance and risk management. This is a major task, so we cannot rely only on incremental, piecemeal reforms," said Angel Gurria, the OECD's secretary-general.

The principles call for action to ensure that relevant, timely, complete and internationally comparable statistics are available. They state that governments should have the power to enforce the collection and dissemination of data. They also call for stronger surveillance and analysis of the financial system, involving cooperation among...

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