FIRB and Gig economy: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Update.)
 
imported>Doug Williamson
(Create the page. Source: CIPD report https://www.cipd.co.uk/Images/to-gig-or-not-to-gig_2017-stories-from-the-modern-economy_tcm18-18955.pdf)
 
Line 1: Line 1:
''Capital adequacy - credit risk.''
The UK Chartered Institute of Personnel and Development (CIPD) defines 'gig economy' workers to include individuals who use an online platform to:
*Provide transport using their own vehicle (e.g. Uber)
*Deliver food or goods (e.g. Deliveroo)
*Perform short-term jobs (e.g. TaskRabbit)
*Undertake other similar services.


Foundation Internal Ratings Based.


FIRB is a simpler version of the Internal Ratings Based (IRB) approach to determining capital requirements for banks and other financial institutions.
<span style="color:#4B0082">'''''Policy-makers struggling with gig economy'''''</span>


The FIRB approach includes certain credit risk assessments made internally by the regulated institution, in combination with other standardised externally generated data.
:"Some see it as part of a general shift of work towards less secure and more exploitative employment; others see it as creating a new form of flexible working that gives individuals new choices about how, when and where they work.
 
:"... policy-makers and others are struggling to come to terms with the phenomenon and what it might mean for employment practice, employment regulation and the quality of work.
 
:"The gig economy has not, as yet, fundamentally changed the nature of work in the UK...
 
:"The conventional employment statistics, however, do not provide a complete picture because some forms of atypical work cut across the distinctions between permanent and temporary. For example, many people on zero hours contracts and many agency workers have permanent contracts.
 
:"Moreover, employment law recognises a category of ‘worker’ between employee and self-employed which is not reflected in the employment numbers."
 
:''To Gig or Not to Gig, March 2017, p2 - Chartered Institute for Personnel and Development.''




== See also ==
== See also ==
* [[AIRB]]
* [[Agency]]
* [[Capital adequacy]]
* [[Unicorn]]
* [[Credit risk]]
* [[Zero hours contract]]
* [[EAD]]
* [[IRB]]
* [[LGD]]
* [[PD]]
* [[RWAs]]
* [[STA]]

Revision as of 10:56, 18 March 2017

The UK Chartered Institute of Personnel and Development (CIPD) defines 'gig economy' workers to include individuals who use an online platform to:

  • Provide transport using their own vehicle (e.g. Uber)
  • Deliver food or goods (e.g. Deliveroo)
  • Perform short-term jobs (e.g. TaskRabbit)
  • Undertake other similar services.


Policy-makers struggling with gig economy

"Some see it as part of a general shift of work towards less secure and more exploitative employment; others see it as creating a new form of flexible working that gives individuals new choices about how, when and where they work.
"... policy-makers and others are struggling to come to terms with the phenomenon and what it might mean for employment practice, employment regulation and the quality of work.
"The gig economy has not, as yet, fundamentally changed the nature of work in the UK...
"The conventional employment statistics, however, do not provide a complete picture because some forms of atypical work cut across the distinctions between permanent and temporary. For example, many people on zero hours contracts and many agency workers have permanent contracts.
"Moreover, employment law recognises a category of ‘worker’ between employee and self-employed which is not reflected in the employment numbers."
To Gig or Not to Gig, March 2017, p2 - Chartered Institute for Personnel and Development.


See also