Cover IMF Working Papers
Issuance of Central Bank Securities: International Experiences and Guidelines
Author: Mr. Simon T Gray and Ms. Runchana Pongsaparn1
  • 1 https://isni.org/isni/0000000404811396, International Monetary Fund
Series:
IMF Working Papers
Volume/Issue:
Volume 2015: Issue 106
Language:
English
Publication Date:
18 May 2015
DOI:
https://doi.org/10.5089/9781513593371.001
ISBN:
9781513593371
ISSN:
1018-5941
Pages:
31
Keywords:
WP; CB Securities; market; liquidity; coupon bond; proceeds; central bank securities; liquidity management; securities market development; CB issues inflation-indexed bond; inflation targeting CBS; CB purchase; CB balance sheets; CB legislation; securities-issuing CBS; securities CBS; structural surplus; Securities; Bonds; Central bank bills; Yield curve; Western Hemisphere; Asia and Pacific; Global; Middle East and Central Asia; Europe
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper discusses the reasons for central bank (CB) issuance of securities, and reasons for choosing different approaches e.g. in maturities and target market. It provides evidence on the range of different approaches taken by those CBs which do issue, as well as suggesting reasons why some CBs do not; and provides operational guidelines on the major building blocks of the issuance of CB securities.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund

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