search query: @author Kranjec, M. / total: 5
reference: 2 / 5
| Author: | Kranjec, M. |
| Title: | Blagajniski zapis Banke Slovenije z nakupnim bonom - opcija na indeks cen na drobno |
| Journal: | Bancni vestnik
1994 : VOL. 43:11, p. 24-28 |
| Index terms: | |
| Freeterms: | Slovenia, financial market, securities, bank notes, Bank of Slovenia, options, indexes, price |
| Language: | slv |
| Abstract: | According to the author the main objective of issuing bank notes with warrants is to withdraw the base money from circulation.But the objective is not relevant to the purchaser who expects to get a fair return from the purchase of a bank note.This is the reason why the bank note has been designed to bring a high return.The return is higher if the discrepancy between inflationary expectations and inflation is high or if the exchange rate for the German Mark lags behind the target inflation.Therefore, some fear exists that the investors might be directly or indirectly interested in an monetary instruments, the fact remains that the central bank is no position to directly monitor inflation.The past few months have shown that there has been an enormous interest in the purchase of bank notes, which have provided the central bank with a strong instrument of control, above all with regard to the money in circulation. This makes a bank note a fresh monetary instrument and means the introduction of elements of financial derivatives, which have been unknown to this market so far.Bank notes represent a major cost to the central bank, which the investors will get in the form of high implicit real interest rates. |
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