Indeed, despite some rapid increases in benefit costs - most notably for health insurance and defined benefit pension plans - overall hourly compensation has been rising at roughly a 4 percent annual rate this year, similar to last year’s pace.
To achieve this objective, we have worked on internal capacity building, inter-agency coordination among financial authorities, academic researchers, and international organizations to promote the exchange of knowledge and technical assistance. Through these efforts, the Sustainable Finance Committee (SFC) as part of the Financial System Stability Council (FSSC) was created. The SFC is an advisory board to the Council on topics related to sustainable finance.