Advances in Risk Management of Government Debt
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Advances in Risk Management of Government Debt

Advances in Risk Management of Government Debt is a landmark study about risk management practices of OECD debt managers. Risk management has become an increasingly important tool for achieving strategic debt targets, and is now an integral part of a wider strategic debt management framework based on benchmarks in most jurisdictions. However, this study shows that the extent and sophistication of risk management vary widely across countries. 

This study brings together a number of recent reports on best practices for managing market risk, credit risk, operational risk and contingent liability risk. It was prepared by a group of authors from the OECD Working Party on Public Debt Management, and includes case-studies of risk management practices in selected OECD debt markets.

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Publication Date :
05 Aug 2005
DOI :
10.1787/9789264104433-en
 
Chapter
 

Risk Management of Government Debt in Austria You do not have access to this content

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Author(s):
Paul A. Kocher , Gerald Nebenf├╝hr
Pages :
119–128
DOI :
10.1787/9789264104433-8-en

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The principal objective of public debt management is the minimisation of costs subject to a given level of risk. Costs are measured overall as the total costs (interest payments plus/minus the change in Net Present Value – NPV), whereas the contributing interest payments are also reported and evaluated separately in the risk management framework.