OECD Working Papers on Sovereign Borrowing and Public Debt Management

The role of public debt managers in contingent liability management
ISSN: 
2226-4132 (online)
http://dx.doi.org/10.1787/22264132
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OECD Working Papers on Sovereign Borrowing and Public Debt Management provide authoritative information on technical and policy issues in the area of public debt management (PDM) and government securities markets. Studies track closely structural issues, trends and challenges in government debt policies and markets. Topics include pressing government debt policy issues such as the measurement of sovereign risk; how to contain the cost of government borrowing operations; the use of electronic systems; sovereign asset and liability management (SALM); liquidity of markets in government debt; advances in risk management; the role of derivatives in PDM; linkages between PDM and monetary policy and the role of debt managers in pricing and managing contingent liabilities.

These studies are prepared for dissemination among sovereign debt managers, financial policy makers, regulators, financial market participants, rating agencies, and academics. By providing information on this highly specialised field of government activity and policy, papers aim to stimulate discussions among a wider audience as well as further analysis.

 
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Mark Number Date TitleClick to Access
  N° 8   02 Feb 2017
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    http://oecd.metastore.ingenta.com/content/93469058-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/the-role-of-public-debt-managers-in-contingent-liability-management_93469058-en
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The role of public debt managers in contingent liability management
Lerzan Ülgentürk
Contingent liabilities are major sources of fiscal risks due to the uncertain financial commitments they involve. Their effective management, therefore, is essential for increasing stability and predictability in public finance. This paper explores...
  N° 7   01 Aug 2013
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    http://oecd.metastore.ingenta.com/content/5k481881kjwh-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/assessing-the-cost-effectiveness-of-index-linked-bond-issuance_5k481881kjwh-en
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Assessing the Cost Effectiveness of Index-linked Bond Issuance
James Knight
Sovereign index-linked bond issuance has grown significantly since the early 1980s, with nearly $2.5 trillion USD in bonds now in issue. Index-linked bonds have become a widely accepted part of the set of instruments that sovereign debt managers use...
  N° 6   17 Jan 2013
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    http://oecd.metastore.ingenta.com/content/5k4dhnwfxtq6-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/investor-relations-and-communications_5k4dhnwfxtq6-en
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Investor Relations and Communications
Mark Dooner, David McAlister
This paper summarizes and discusses results from a survey conducted by the Department of Finance Canada and the Bank of Canada in July 2012 regarding an overview of investor relations (IR) and communications practices of members of the OECD Working...
  N° 5   13 Sep 2012
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    http://oecd.metastore.ingenta.com/content/5k92v18rh80v-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/buyback-and-exchange-operations_5k92v18rh80v-en
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Buyback and Exchange Operations
Hans J. Blommestein, Mehmet Emre Elmadag, Jacob Wellendorph Ejsing
This paper reports on a survey carried out among OECD government debt managers on the use of bond buybacks and exchange operations. The survey shows that government debt managers use extensively bond buybacks and exchanges (often referred to as...
  N° 4   20 Feb 2012
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    http://oecd.metastore.ingenta.com/content/5k9fdwrf5rvj-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/a-critical-analysis-of-the-technical-assumptions-of-the-standard-micro-portfolio-approach-to-sovereign-debt-management_5k9fdwrf5rvj-en
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A Critical Analysis of the Technical Assumptions of the Standard Micro Portfolio Approach to Sovereign Debt Management
Hans J. Blommestein, Anja Hubig
This paper examines the analytical underpinnings of the standard micro portfolio approach to public debt management (PDM) that aims at minimising longer-term cash-flow based borrowing costs at an acceptable level of risk. The study concludes that two...
  N° 3   20 Feb 2012
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    http://oecd.metastore.ingenta.com/content/5k9fdwrnd1g3-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/interactions-between-sovereign-debt-management-and-monetary-policy-under-fiscal-dominance-and-financial-instability_5k9fdwrnd1g3-en
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Interactions Between Sovereign Debt Management and Monetary Policy Under Fiscal Dominance and Financial Instability
Hans J. Blommestein, Philip Turner
This paper argues that serious fiscal vulnerabilities arising from many years of high government debt will create new and complex interactions between public debt management (PDM) and monetary policy (MP). The paper notes that, although their formal...
  N° 2   30 Sep 2011
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    http://oecd.metastore.ingenta.com/content/5k9gz2mmx0vh-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/principles-and-trade-offs-when-making-issuance-choices-in-the-uk_5k9gz2mmx0vh-en
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Principles and Trade-Offs when Making Issuance Choices in the UK
OECD
This paper sets out: (i) the principles underpinning debt management policy in the UK; (ii) the key factors influencing annual issuance decisions; and (iii) how some of those factors require judgements to be made in determining appropriate...
  N° 1   30 Sep 2011
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    http://oecd.metastore.ingenta.com/content/5k9gz2n0sgq2-en.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/regulatory-reform-of-otc-derivatives-and-its-implications-for-sovereign-debt-management-practices_5k9gz2n0sgq2-en
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Regulatory Reform of OTC Derivatives and Its Implications for Sovereign Debt Management Practices
OECD
This report analyses the possible implications for public debt management practices arising from regulatory changes for over the counter derivatives (OTCD) that are being developed worldwide to strengthen the resiliency of the financial system. Many...
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