A primer on managing sovereign debt-portfolio risks /
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| Author / Creator: | Jonasson, Thordur, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, [2018] ©2018 |
| Description: | 1 online resource (134 pages) |
| Language: | English |
| Series: | IMF Working Paper ; WP/18/74 IMF working paper ; WP/18/74. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12507881 |
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| 050 | 4 | |a HB615 |b .J663 2018 | |
| 100 | 1 | |a Jonasson, Thordur, |e author. | |
| 245 | 1 | 2 | |a A primer on managing sovereign debt-portfolio risks / |c by Thordur Jonasson and Michael Papaioannou. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2018] | |
| 264 | 4 | |c ©2018 | |
| 300 | |a 1 online resource (134 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Paper ; |v WP/18/74 | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Contents; Abstract; Introduction; I. Sovereign Debt Portfolio Risks; A. Rollover/Refinancing Risk; B. Interest Rate Risk; C. Exchange Rate Risk; D. Funding Liquidity and Market Liquidity Risks; E. Sovereign and Counterparty Credit Risks; F. Contingent and Fiscal Risks; G. Legal Risk; H. Operational Risk; II. Salient Features of a Sovereign Debt Portfolio Risk Management Framework; A. Decisions on Overall Debt Portfolio Structure; B. The Application of Market-Based Indicators in Debt Management; C. Adoption of a Sovereign Asset and Liability Management Approach. | |
| 505 | 8 | |a D. Guidelines for Debt Portfolio ManagementIII. The Role of Liability Management Operations in Managing Sovereign Debt Portfolio Risks; A. Rollover/Refinancing Risk Management; B. Interest and Exchange Rate Risk Management; C. Funding Liquidity and Market Liquidity Risk Management; D. Management of Sovereign and Counterparty Credit Risk; E. Management of Guarantees and Other Contingent Liabilities; F. Management of Legal Risk; G. Management of Operational Risk; H. Selected Liability Management Operations Used by Debt Managers. | |
| 505 | 8 | |a IV. Interactions of Sovereign Debt Portfolio Management with Fiscal, Monetary Policy, and Financial StabilityA. Fiscal Policy; B. Monetary Policy; C. Financial Stability; D. Cash Management; E. Institutional Factors; V. Sovereign Debt Portfolio Management and Domestic and International Market Access; A. Role of Domestic Markets in LMOs; B. Role of International Capital Market Issuance in LMOs; VI. Sovereign Debt Management in Times of Debt Distress; A. Sovereign Debt Restructuring; B. Role and Determinants of Market Access; C. Strategies for Regaining Market Access; VII. Concluding Remarks. | |
| 504 | |a ReferencesTables; 1. Sources of Fiscal Risks; 2. Selected SALM Country Cases; 3. Liability Management Operations Used by Debt Managers; 4. Debt Management Channels to Financial Stability; Figure; 1. Stylized Timeline of a Sovereign Debt Restructuring; Boxes; 1. Selected Elements of Guarantee Policy; 2. Legal Risks-Argentina and Belgium; 3. Content of a Debt Management Strategy Document; 4. Debt Managers' Use of Derivatives; 5. Can Sovereigns Use Extendible Bonds to Reduce Liquidity Risk?; 6. Credit Risk Related to Derivatives; 7. Deriving Debt Sustainability Analysis Equations. | ||
| 505 | 8 | |a 8. The Organizational Structure of a Modern Integrated Debt Management Function9. Common Pitfalls of First-Time Issuers; Appendices; 1. Key Aspects of Government Securities Market Development; 2. Primary Dealers; 3. Implementing Auctions of Government Securities. | |
| 520 | 3 | |a This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets. | |
| 650 | 0 | |a Risk |x Econometric models. | |
| 650 | 0 | |a Interest rates |x Econometric models. | |
| 650 | 0 | |a Credit |x Econometric models. | |
| 650 | 6 | |a Risque |x Modèles économétriques. | |
| 650 | 6 | |a Taux d'intérêt |x Modèles économétriques. | |
| 650 | 6 | |a Crédit |x Modèles économétriques. | |
| 650 | 7 | |a Credit |x Econometric models. |2 fast |0 (OCoLC)fst00882527 | |
| 650 | 7 | |a Interest rates |x Econometric models. |2 fast |0 (OCoLC)fst00976180 | |
| 650 | 7 | |a Risk |x Econometric models. |2 fast |0 (OCoLC)fst01098121 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Papaioannou, Michael G., |e author. |0 http://id.loc.gov/authorities/names/no93007452 | |
| 776 | 0 | 8 | |i Print version: |a Jonasson, Thordur. |t A Primer on Managing Sovereign Debt-Portfolio Risks. |d Washington, D.C. : International Monetary Fund, ©2018 |z 9781484350546 |
| 830 | 0 | |a IMF working paper ; |v WP/18/74. |0 http://id.loc.gov/authorities/names/no89010263 | |
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