TAILIEUCHUNG - Bond Markets in Serbia: regulatory challenges for an efficient market

The stock exchange Statute stipulates the scope of activities of the stock exchange: first, the organization of public tender of securities, which implies con- necting supply and demand for securities, and providing information relating to sup- ply, demand and market price of securities, as well as other data of relevance for securities’ trading. Another task of the stock exchange is to determine the securities’ price quotation lists and to make them public. The stock exchange itself cannot trade securities, provide advice related to trades, advise on choosing the brokerage/deal- ers’ society or the authorized bank, nor conduct activities specified as the activities of the brokerage/dealers’ society | Bond Markets in Serbia Bond Markets in Serbia regulatory challenges for an efficient market Bond Markets in Serbia Bond Markets in Serbia regulatory challenges for an efficient market Jefferson Institute 2005 Published by Jefferson Institute Stevana Sremca 4 11 000 Belgrade Serbia Design typeset by Branko Otkovic ISBN 86-905973-3-6 Bond Markets in Serbia TABLE OF CONTENTS Executive Summary 1 1. Bonds and the Development of the Financial Market in Serbia 3 . Debt Repayment Program 5 . The Roots of the SegHienled Bond Market in Scrbai 7 2. NBS Bills and RS T-bill 9 3. Regulatory Environmentfor Bond Trading and Related Institution 11 . Belgrade Stock Exchange 11 . Central Secnriiies Depository 14 . The Nationat Bank o feerbi a 15 . The Dinar Exchange Rate 16 . Securities Exchange C c n niii iik n 17 . Ministry of Finance and tis Deb t 18 . National Savings Bank 19 4. Regulation and Blond. Trading in Practice 21 . Bond Trading BSE and OTC 21 . Law on Securities and Other Financial Instruments Market 21 5. Bond markets in Central Europe Lessons and Experiences 27 . Czech Republic 30 . Hungary 32 . Poland 34 . Slovakia 31 . Comparison and Summary 37 6. Serbian Yield Curve 39 . Term Structure Models 39 . Data 41 . Methodology 42 . Forecasting the Term Structure 49 . Summary of the Yield Curve Estimation 11 7. Macroeconomy and the Yield Curve 57 8. Bond as Collateral 61 . Legislative Framework 61 . Models of Credit Risk 63 9. Conclusions Recommendations 65 References 69 Table of Contents .

• Ngân hàng - Tín dụng
• Quality Analysis
• Computer Based
• On Line Assessment
• Ice Temperature
• Storage Technology
• Maillard Reaction
• Path coefficient
• Quality protein maize
• Grain yield
• Quality traits in quality protein maize
• Path coefficient analysis
• Correlation for yield contributing
• Quality traits
• Protein maize (Zea mays L )
• Path analysis studies
• Path analysis studies for yield
• Patients’ satisfaction of health service quality in public hospitals
• A PubHosQual analysis
• Health service quality in public hospitals
• The quality of health service
• Public hospitals in Jordan
• Quality parameters
• Path analysis
• Quality parameters in rice genotypes
• Rice genotypes
• Combining ability analysis
• Combining ability
• Combining ability analysis for earliness
• Yield and quality components
• Quality components in tomato
• Solanum lycopersicum L
• Abiotic factors
• Avifaunal diversity and water quality analysis
• Water quality analysis
• Inland pond
• Physico chemical factors are discussed
• Chicken breast
• Vacuum packaging
• 24 h storage
• Chilled chicken breast
• Quality analysis of vacuum packed
• Foxtail millet genotypes
• Setaria italica L
• Quality components
• Path analysis for grain yield
• Correlation and path analysis
• BMC Bioinformatics
• Quality trimming
• Paired end reads
• Diversity analysis
• Microbiome data analysis
• Soil analysis
• Water analysis
• Narmada valley
• Wildlife health by soil
• Tạp chí khoa học
• Service quality
• Technical and functional quality model
• Factor analysis
• Jetstar Pacific Airlines
• Genetic analysis
• Quality traits in bread wheat
• Bread wheat
• General combining ability
• Kolhapur city
• Microbial quality
• Microbial quality analysis
• Shrikhand sold in Kolhapur city
• Preparation of products
• Capsicum annuum L
• Graphical analysis
• Quality traits in sweet pepper
• Forty five F1 crosses generated
• Customer perceptions of service quality
• Life insurance companies
• Gap analysis and Multi regression
• Good quality of service
• Insurance company staff
• Line x tester
• Yield and quality
• Tester analysis in chilli
• Identification of superior parents
• Hybrids for yield
• Quality attributing traits
• Cell level quality control
• High throughput image analysis
• Image quality measurement
• Machine learning
• NPKS content in soil and curd
• Nutrient analysis
• NPKS content in soil
• Quality attributes of cauliflower
• NPKs on quality attributes
• Hybrid vigour
• Quality traits and yield
• Tester analysis carried over environments
• Estimation of hybrid vigour
• Quality traits of okra
• Ensuring product safety
• Lmproving quality in the supply chain
• Ebook Safety and quality issues
• Rapid detection of seafood toxins
• Understanding lipid oxidation in fish
• Underlying constructs affecting the quality of accounting human resources
• The quality of accounting human resources
• Quality of accounting human resources
• Human resource assessment
• Accounting service firms
• Genetic variability
• Genetic variability and D2 analysis
• D2 analysis for yield
• Quality traits in tomato
• Tomato (Solanum lycopersicum L )
• L x T analysis and chickpea
• Genetics analysis of yield
• Quality characters in chickpea
• Chickpea (Cicer arietinum L )
• Rice based cropping system
• American cotton
• Direct and indirect effect
• Fibre quality traits in Cotton
• Path coefficient analysis studies for yield
• Report on scientific research
• Automated Services Banks
• Quality ATM Banhks
• Quality Internet banking
• Services Telephone banking
• Confirmatory Factor Analysis