Securities Lending and Related Standing Facilities : Background Note

Thesis aim of this draft background note is to provide public debt managers with an overview of the matters that need to be considered by debt management offices planning to provide a securities lending facility to their primary dealers.

Bibliographic Details
Main Author:	World Bank Group
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	USE OF REPOS AUCTION HOLDING BORROWER ACCOUNTING FIXED INCOME PUBLIC DEBT MANAGERS REPO AUCTION VALUATION INTEREST INSTITUTIONAL INVESTORS LENDING LIMITS GOVERNMENT FUNDING OPTION DEBT MANAGEMENT BROKERAGE FIRMS PORTFOLIO LOAN LENDING INSTRUMENT BORROWERS MUTUAL FUNDS INSTRUMENTS REPO TRANSACTIONS MARKET PARTICIPANTS SECONDARY MARKET IN GOVERNMENT SECURITIES MARKET LIQUIDITY SECURITIES ISSUANCE CURRENCY MARKET DEVELOPMENT PLEDGE OF SECURITIES USE OF COLLATERAL RESERVE BANK MARKET MAKERS FINANCES BANK LENDERS PRIMARY DEALERS DEBT OUTSTANDING EMERGING MARKET DEBT MARKETS MARKET MAKER SETTLEMENT LOAN MATURITY SECONDARY MARKET PRICE COUPON BONDS NATIONAL TREASURY INVENTORY GOVERNMENT SECURITIES MARKET BUY BACK TRANSACTIONS AUCTIONS EMERGING MARKETS REPO MARKET BOND MARKETS TRANSPARENCY LIABILITY SIDE MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT LIQUIDITY POSITION OVERNIGHT REPO INCOME SECURITIES ISSUANCE BOND PORTFOLIOS T-BILLS LOCAL CURRENCY NET DEBT RISK OF DEFAULT FIXED INCOME SECURITIES BOND MATURITY PUBLIC DEBT SECURITIES TREASURY LENDING INSTRUMENTS CREDIT RISK HOLDINGS GOVERNMENT DEBT GOVERNMENT BONDS SHORT MATURITY COUPON DEBT MARKET DEVELOPMENT LENDING GLOBAL FINANCE AMOUNT OF DEBT MARKET PARTICIPANT MARKET PRACTICES MATURITIES LIABILITY MANAGEMENT LIABILITIES BOND MARKET DEVELOPMENT CENTRAL BANK BILLS CAPITAL MARKETS DEPOSIT BROKERAGE LIABILITY REPO AGREEMENT CASH INFLOW MARKET MAKING STOCK OUTSTANDING LOAN REPO GUARANTEES REPO FACILITY DEBT STOCK INTEREST RATE MATURITY DATE EXCHANGE AUTOMATIC LENDING LIQUIDITY SECURITIES TRANSACTIONS BONDS BENCHMARK BOND CLEARING HOUSE DISCOUNT GOVERNMENT BOND PLEDGE RESERVE INFLATION MATURE MARKETS PENSION LENDER CENTRAL BANK MATURITY T-BOND ILLIQUIDITY SECURITIES DEALERS MARKET-MAKING SECURITIES MARKET PRIMARY MARKET PORTFOLIOS SETTLEMENT RISK GUARANTEE FUND TRADING INTEREST RATES REPO MARKETS MARKET MECHANISM PRICE TRANSPARENCY RETURN LENDERS GOVERNMENT SECURITY PUBLIC DEBT MANAGEMENT LOANS SETTLEMENT SYSTEM SECONDARY MARKET LIQUIDITY INVENTORIES RESERVES CASH TRANSFERS FINANCE BENCHMARK BONDS COLLATERAL POOL MARKET PRICE GOVERNMENT SECURITIES GOVERNMENT DEBT MARKET INVESTORS TRANSACTION SECURITIES AS COLLATERAL GOVERNMENT BOND MARKETS BOND PORTFOLIO LENDING AGREEMENT FINANCIAL INSTRUMENTS SAFETY NET BOND MARKET CONTRACT FINANCING REQUIREMENTS BIDS LEGAL OWNERSHIP T-BILL BALANCE SHEET DEFAULT MARKET REPO TRANSACTION MARKET VALUE IMPLICIT GUARANTEE DEBT MARKET VALUATION CHANGE MARKET SHARE PRIMARY DEALER SECURITY FINANCIAL MARKET REPO RATE INVESTMENT NATIONAL BANK OUTSTANDING DEBT BOND SHARE COLLATERAL SECONDARY BOND MARKET FLOATING RATE FIXED RATE BONDS MONEY MARKET REINVESTMENT PROFIT OUTSTANDING AMOUNT PENSION FUND INSTRUMENT REPOS SECONDARY MARKET GUARANTEE
Online Access:	http://documents.worldbank.org/curated/en/2016/03/26122358/securities-lending-related-standing-facilities-background-note http://hdl.handle.net/10986/24085

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recordtype	oai_dc
spelling	okr-10986-240852021-04-23T14:04:19Z Securities Lending and Related Standing Facilities : Background Note World Bank Group USE OF REPOS AUCTION HOLDING BORROWER ACCOUNTING FIXED INCOME PUBLIC DEBT MANAGERS REPO AUCTION VALUATION INTEREST INSTITUTIONAL INVESTORS LENDING LIMITS GOVERNMENT FUNDING OPTION DEBT MANAGEMENT BROKERAGE FIRMS PORTFOLIO LOAN LENDING INSTRUMENT BORROWERS MUTUAL FUNDS INSTRUMENTS REPO TRANSACTIONS MARKET PARTICIPANTS SECONDARY MARKET IN GOVERNMENT SECURITIES MARKET LIQUIDITY SECURITIES ISSUANCE CURRENCY MARKET DEVELOPMENT PLEDGE OF SECURITIES USE OF COLLATERAL RESERVE BANK MARKET MAKERS FINANCES BANK LENDERS PRIMARY DEALERS DEBT OUTSTANDING EMERGING MARKET DEBT MARKETS MARKET MAKER SETTLEMENT LOAN MATURITY SECONDARY MARKET PRICE COUPON BONDS NATIONAL TREASURY INVENTORY GOVERNMENT SECURITIES MARKET BUY BACK TRANSACTIONS AUCTIONS EMERGING MARKETS REPO MARKET BOND MARKETS TRANSPARENCY LIABILITY SIDE MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT LIQUIDITY POSITION OVERNIGHT REPO INCOME SECURITIES ISSUANCE BOND PORTFOLIOS T-BILLS LOCAL CURRENCY NET DEBT RISK OF DEFAULT FIXED INCOME SECURITIES BOND MATURITY PUBLIC DEBT SECURITIES TREASURY LENDING INSTRUMENTS CREDIT RISK HOLDINGS GOVERNMENT DEBT GOVERNMENT BONDS SHORT MATURITY COUPON DEBT MARKET DEVELOPMENT LENDING GLOBAL FINANCE AMOUNT OF DEBT MARKET PARTICIPANT MARKET PRACTICES MATURITIES LIABILITY MANAGEMENT LIABILITIES BOND MARKET DEVELOPMENT CENTRAL BANK BILLS CAPITAL MARKETS DEPOSIT BROKERAGE LIABILITY REPO AGREEMENT CASH INFLOW MARKET MAKING STOCK OUTSTANDING LOAN REPO GUARANTEES REPO FACILITY DEBT STOCK INTEREST RATE MATURITY DATE EXCHANGE AUTOMATIC LENDING LIQUIDITY SECURITIES TRANSACTIONS BONDS BENCHMARK BOND CLEARING HOUSE DISCOUNT GOVERNMENT BOND PLEDGE RESERVE INFLATION MATURE MARKETS PENSION LENDER CENTRAL BANK MATURITY T-BOND ILLIQUIDITY SECURITIES DEALERS MARKET-MAKING SECURITIES MARKET PRIMARY MARKET PORTFOLIOS SETTLEMENT RISK GUARANTEE FUND TRADING INTEREST RATES REPO MARKETS MARKET MECHANISM PRICE TRANSPARENCY RETURN LENDERS GOVERNMENT SECURITY PUBLIC DEBT MANAGEMENT LOANS SETTLEMENT SYSTEM SECONDARY MARKET LIQUIDITY INVENTORIES RESERVES CASH TRANSFERS FINANCE BENCHMARK BONDS COLLATERAL POOL MARKET PRICE GOVERNMENT SECURITIES GOVERNMENT DEBT MARKET INVESTORS TRANSACTION SECURITIES AS COLLATERAL GOVERNMENT BOND MARKETS BOND PORTFOLIO LENDING AGREEMENT FINANCIAL INSTRUMENTS SAFETY NET BOND MARKET CONTRACT FINANCING REQUIREMENTS BIDS LEGAL OWNERSHIP T-BILL BALANCE SHEET DEFAULT MARKET REPO TRANSACTION MARKET VALUE IMPLICIT GUARANTEE DEBT MARKET VALUATION CHANGE MARKET SHARE PRIMARY DEALER SECURITY FINANCIAL MARKET REPO RATE INVESTMENT NATIONAL BANK OUTSTANDING DEBT BOND SHARE COLLATERAL SECONDARY BOND MARKET FLOATING RATE FIXED RATE BONDS MONEY MARKET REINVESTMENT PROFIT OUTSTANDING AMOUNT PENSION FUND INSTRUMENT REPOS SECONDARY MARKET GUARANTEE Thesis aim of this draft background note is to provide public debt managers with an overview of the matters that need to be considered by debt management offices planning to provide a securities lending facility to their primary dealers. 2016-04-18T21:50:43Z 2016-04-18T21:50:43Z 2015-05 Working Paper http://documents.worldbank.org/curated/en/2016/03/26122358/securities-lending-related-standing-facilities-background-note http://hdl.handle.net/10986/24085 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	USE OF REPOS AUCTION HOLDING BORROWER ACCOUNTING FIXED INCOME PUBLIC DEBT MANAGERS REPO AUCTION VALUATION INTEREST INSTITUTIONAL INVESTORS LENDING LIMITS GOVERNMENT FUNDING OPTION DEBT MANAGEMENT BROKERAGE FIRMS PORTFOLIO LOAN LENDING INSTRUMENT BORROWERS MUTUAL FUNDS INSTRUMENTS REPO TRANSACTIONS MARKET PARTICIPANTS SECONDARY MARKET IN GOVERNMENT SECURITIES MARKET LIQUIDITY SECURITIES ISSUANCE CURRENCY MARKET DEVELOPMENT PLEDGE OF SECURITIES USE OF COLLATERAL RESERVE BANK MARKET MAKERS FINANCES BANK LENDERS PRIMARY DEALERS DEBT OUTSTANDING EMERGING MARKET DEBT MARKETS MARKET MAKER SETTLEMENT LOAN MATURITY SECONDARY MARKET PRICE COUPON BONDS NATIONAL TREASURY INVENTORY GOVERNMENT SECURITIES MARKET BUY BACK TRANSACTIONS AUCTIONS EMERGING MARKETS REPO MARKET BOND MARKETS TRANSPARENCY LIABILITY SIDE MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT LIQUIDITY POSITION OVERNIGHT REPO INCOME SECURITIES ISSUANCE BOND PORTFOLIOS T-BILLS LOCAL CURRENCY NET DEBT RISK OF DEFAULT FIXED INCOME SECURITIES BOND MATURITY PUBLIC DEBT SECURITIES TREASURY LENDING INSTRUMENTS CREDIT RISK HOLDINGS GOVERNMENT DEBT GOVERNMENT BONDS SHORT MATURITY COUPON DEBT MARKET DEVELOPMENT LENDING GLOBAL FINANCE AMOUNT OF DEBT MARKET PARTICIPANT MARKET PRACTICES MATURITIES LIABILITY MANAGEMENT LIABILITIES BOND MARKET DEVELOPMENT CENTRAL BANK BILLS CAPITAL MARKETS DEPOSIT BROKERAGE LIABILITY REPO AGREEMENT CASH INFLOW MARKET MAKING STOCK OUTSTANDING LOAN REPO GUARANTEES REPO FACILITY DEBT STOCK INTEREST RATE MATURITY DATE EXCHANGE AUTOMATIC LENDING LIQUIDITY SECURITIES TRANSACTIONS BONDS BENCHMARK BOND CLEARING HOUSE DISCOUNT GOVERNMENT BOND PLEDGE RESERVE INFLATION MATURE MARKETS PENSION LENDER CENTRAL BANK MATURITY T-BOND ILLIQUIDITY SECURITIES DEALERS MARKET-MAKING SECURITIES MARKET PRIMARY MARKET PORTFOLIOS SETTLEMENT RISK GUARANTEE FUND TRADING INTEREST RATES REPO MARKETS MARKET MECHANISM PRICE TRANSPARENCY RETURN LENDERS GOVERNMENT SECURITY PUBLIC DEBT MANAGEMENT LOANS SETTLEMENT SYSTEM SECONDARY MARKET LIQUIDITY INVENTORIES RESERVES CASH TRANSFERS FINANCE BENCHMARK BONDS COLLATERAL POOL MARKET PRICE GOVERNMENT SECURITIES GOVERNMENT DEBT MARKET INVESTORS TRANSACTION SECURITIES AS COLLATERAL GOVERNMENT BOND MARKETS BOND PORTFOLIO LENDING AGREEMENT FINANCIAL INSTRUMENTS SAFETY NET BOND MARKET CONTRACT FINANCING REQUIREMENTS BIDS LEGAL OWNERSHIP T-BILL BALANCE SHEET DEFAULT MARKET REPO TRANSACTION MARKET VALUE IMPLICIT GUARANTEE DEBT MARKET VALUATION CHANGE MARKET SHARE PRIMARY DEALER SECURITY FINANCIAL MARKET REPO RATE INVESTMENT NATIONAL BANK OUTSTANDING DEBT BOND SHARE COLLATERAL SECONDARY BOND MARKET FLOATING RATE FIXED RATE BONDS MONEY MARKET REINVESTMENT PROFIT OUTSTANDING AMOUNT PENSION FUND INSTRUMENT REPOS SECONDARY MARKET GUARANTEE
spellingShingle	USE OF REPOS AUCTION HOLDING BORROWER ACCOUNTING FIXED INCOME PUBLIC DEBT MANAGERS REPO AUCTION VALUATION INTEREST INSTITUTIONAL INVESTORS LENDING LIMITS GOVERNMENT FUNDING OPTION DEBT MANAGEMENT BROKERAGE FIRMS PORTFOLIO LOAN LENDING INSTRUMENT BORROWERS MUTUAL FUNDS INSTRUMENTS REPO TRANSACTIONS MARKET PARTICIPANTS SECONDARY MARKET IN GOVERNMENT SECURITIES MARKET LIQUIDITY SECURITIES ISSUANCE CURRENCY MARKET DEVELOPMENT PLEDGE OF SECURITIES USE OF COLLATERAL RESERVE BANK MARKET MAKERS FINANCES BANK LENDERS PRIMARY DEALERS DEBT OUTSTANDING EMERGING MARKET DEBT MARKETS MARKET MAKER SETTLEMENT LOAN MATURITY SECONDARY MARKET PRICE COUPON BONDS NATIONAL TREASURY INVENTORY GOVERNMENT SECURITIES MARKET BUY BACK TRANSACTIONS AUCTIONS EMERGING MARKETS REPO MARKET BOND MARKETS TRANSPARENCY LIABILITY SIDE MARKET CONDITIONS TURNOVER FUTURE LENDER OF LAST RESORT LIQUIDITY POSITION OVERNIGHT REPO INCOME SECURITIES ISSUANCE BOND PORTFOLIOS T-BILLS LOCAL CURRENCY NET DEBT RISK OF DEFAULT FIXED INCOME SECURITIES BOND MATURITY PUBLIC DEBT SECURITIES TREASURY LENDING INSTRUMENTS CREDIT RISK HOLDINGS GOVERNMENT DEBT GOVERNMENT BONDS SHORT MATURITY COUPON DEBT MARKET DEVELOPMENT LENDING GLOBAL FINANCE AMOUNT OF DEBT MARKET PARTICIPANT MARKET PRACTICES MATURITIES LIABILITY MANAGEMENT LIABILITIES BOND MARKET DEVELOPMENT CENTRAL BANK BILLS CAPITAL MARKETS DEPOSIT BROKERAGE LIABILITY REPO AGREEMENT CASH INFLOW MARKET MAKING STOCK OUTSTANDING LOAN REPO GUARANTEES REPO FACILITY DEBT STOCK INTEREST RATE MATURITY DATE EXCHANGE AUTOMATIC LENDING LIQUIDITY SECURITIES TRANSACTIONS BONDS BENCHMARK BOND CLEARING HOUSE DISCOUNT GOVERNMENT BOND PLEDGE RESERVE INFLATION MATURE MARKETS PENSION LENDER CENTRAL BANK MATURITY T-BOND ILLIQUIDITY SECURITIES DEALERS MARKET-MAKING SECURITIES MARKET PRIMARY MARKET PORTFOLIOS SETTLEMENT RISK GUARANTEE FUND TRADING INTEREST RATES REPO MARKETS MARKET MECHANISM PRICE TRANSPARENCY RETURN LENDERS GOVERNMENT SECURITY PUBLIC DEBT MANAGEMENT LOANS SETTLEMENT SYSTEM SECONDARY MARKET LIQUIDITY INVENTORIES RESERVES CASH TRANSFERS FINANCE BENCHMARK BONDS COLLATERAL POOL MARKET PRICE GOVERNMENT SECURITIES GOVERNMENT DEBT MARKET INVESTORS TRANSACTION SECURITIES AS COLLATERAL GOVERNMENT BOND MARKETS BOND PORTFOLIO LENDING AGREEMENT FINANCIAL INSTRUMENTS SAFETY NET BOND MARKET CONTRACT FINANCING REQUIREMENTS BIDS LEGAL OWNERSHIP T-BILL BALANCE SHEET DEFAULT MARKET REPO TRANSACTION MARKET VALUE IMPLICIT GUARANTEE DEBT MARKET VALUATION CHANGE MARKET SHARE PRIMARY DEALER SECURITY FINANCIAL MARKET REPO RATE INVESTMENT NATIONAL BANK OUTSTANDING DEBT BOND SHARE COLLATERAL SECONDARY BOND MARKET FLOATING RATE FIXED RATE BONDS MONEY MARKET REINVESTMENT PROFIT OUTSTANDING AMOUNT PENSION FUND INSTRUMENT REPOS SECONDARY MARKET GUARANTEE World Bank Group Securities Lending and Related Standing Facilities : Background Note
description	Thesis aim of this draft background note is to provide public debt managers with an overview of the matters that need to be considered by debt management offices planning to provide a securities lending facility to their primary dealers.
format	Working Paper
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Securities Lending and Related Standing Facilities : Background Note
title_short	Securities Lending and Related Standing Facilities : Background Note
title_full	Securities Lending and Related Standing Facilities : Background Note
title_fullStr	Securities Lending and Related Standing Facilities : Background Note
title_full_unstemmed	Securities Lending and Related Standing Facilities : Background Note
title_sort	securities lending and related standing facilities : background note
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/03/26122358/securities-lending-related-standing-facilities-background-note http://hdl.handle.net/10986/24085
_version_	1764455631237939200

Securities Lending and Related Standing Facilities : Background Note

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