search query: @author Gregorcic, L. / total: 7
reference: 4 / 7
| Author: | Gregorcic, L. |
| Title: | Who is responsible for the liquidity and the rate of government securities in Slovenia |
| Journal: | Bancni vestnik
1995 : VOL. 44:12, p. 6-8 |
| Index terms: | SLOVENIA GOVERNMENT BONDS LIQUIDITY EXCHANGE RATES FINANCIAL MARKETS FINANCIAL MARKET TRADING |
| Language: | slv |
| Abstract: | In her article the author gives her personal view of the problems related to the liquidity of government securities on the secondary market.In Slovenia due to its financial specificity the management of the public debt is an extremely demanding task: more so when the liquidity of government securities is in question.In the securitized public debt the non-negotiable and long-term securities prevail.However, they are not appropriate for the implementation of the monetary policy.In Slovenia there are no financial institutions which would be in a position to maintain the liquidity of government securities.Uneasiness about what is going to happen on the secondary securities market, when the majority of securities become negotiable, is quite legitimate.In Slovenia the role of the market maker can not be assumed by the Bank of Slovenia.It could be assumed by the Treasury providing the latter were not restricted by the regulations governing securities trading. As the result of such regulations it is impossible either to manage the liquidity of the secondary government securities market or to manage the Iiquidity of the public sector.The problem could be resolved by minor amendments to the Law on the Budget.The amendments should model after certain clauses of the Law on the Bank of Slovenia, which regulate the Bank's activities on the financial market. |
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