TAILIEUCHUNG - Lecture Financial institutions, instruments and markets (6/e): Chapter 12 - Viney

Chapter 12 - Government debt, monetary policy and the payments system. The goals of this chapter are: Outline reasons why governments borrow; describe features of the main commonwealth government debt instruments, issuance process, participants and related calculations; describe the purpose and structure of state government central borrowing authorities;. | Chapter 12 Government Debt, Monetary Policy and the Payments System Websites: 12- Learning Objectives Outline reasons why governments borrow Describe features of the main Commonwealth government debt instruments, issuance process, participants and related calculations Describe the purpose and structure of state government central borrowing authorities Outline monetary policy techniques used by the RBA to influence interest rates, including open market operations and the impacts on system liquidity Describe the purpose and operation of the payments system 12- Chapter Organisation Commonwealth Government Borrowing Commonwealth Government Securities State Government Securities Monetary Policy The Payments System Summary 12- Commonwealth Government Borrowing Governments need to fund capital and recurrent expenditures This is achieved by issuing debt securities in the money and capital markets Fiscal policy relates to the annual incomes and expenditures of a government Monetary policy affects the level of short-term interest rates by adjusting the level of financial system liquidity 12- Commonwealth Government Borrowing (cont.) Borrowing requirement Full financial year Borrow to finance budget deficits Roll over existing bonds that mature Retire debt at/prior to maturity if budget in surplus Instruments issued are Treasury bonds and they are bought mainly by commercial banks, other financial institutions and portfolio managers for: liquidity management portfolio investments risk management payments system requirements prudential requirements 12- Commonwealth Government Borrowing (cont.) Borrowing requirement (cont.) Full financial year (cont.) Budget surpluses and debt reduction policies have limited the supply of government securities Long-dated bonds are now issued every two years, ensuring sufficient securities to support 10-year bond futures contracts Government intends .

• Tài chính doanh nghiệp
• Government debt
• Monetary policy
• Financial institutions
• Financial Instruments
• Financial markets
• Financial system
• Payments system
• State budget
• Public debt
• Mobilization orientation
• Borrowed capital
• Public debt management
• Social issues
• Economics of social issues
• Lecture Economics of social issues
• Government spending
• National debt
• Economic analysis
• Economic growth
• Granger causality
• Financial crisis
• Granger cause economic growth
• Accounting for governmental
• Not for profit organizations
• Financial reporting for governmental
• Government wide financial statements
• Capital assets
• Long term debt
• Not for profit accounting
• Capital projects
• Debt service
• Debt moratorium
• Gold investment
• Government bonds
• International capital markets
• Present value
• Redemption quota
• Rescue package
• Risk premium
• specific components
• hypersensitivity reaction
• evidence suggests
• empyema thoracis
• paratracheal lymph nodes
• Sero Prevalence
• Female Sex Workers
• Andhra Pradesh
• Contemporary Obstetric
• Umbilical Cord Blood
• Preeclamptic Pregnancy
• Tiểu luận kinh tế lượng
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• Phát hành nợ
• Investing in an uncertain economy for dummies
• Uncertain economy
• Protect your ability
• Manage your debt
• Prioritize financial goals
• Permanent funds
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Problems measuring
• Uncounted liabilities
• The business cycle
• Lessons of Abenomics
• Abenomics for Viet Nam
• World economy
• Curb government debt
• Abenomics 2 0
• Principles of microeconomics
• Economic models
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