Financial exposure and risk assessment: Each firm should accurately measure its financial exposures to LIBOR and report them to senior management. Large firms should measure their exposures frequently—for example, quarterly—identifying exposures by product, counterparty, and business line and identifying the proportion of exposures that will run off before the relevant LIBOR tenor ceases. 3.
Immigrants have contributed positively to labour supply, helping to fill skills shortages. The share of workers with tertiary level education has increased. These are encouraging developments, resulting from the implementation of structural reforms in product and labour markets, increased immigration and wage moderation. Nevertheless, progress has been quite uneven across countries and significant challenges remain.