Good Practices For Developing A Local Currency Bond Market

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 350 pages
File Size : 43,5 Mb
Release : 2019-05-01
Category : Business & Economics
ISBN : 9789292616113

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Good Practices for Developing a Local Currency Bond Market by Asian Development Bank Pdf

Local currency bond markets in ASEAN+3 play an important role in diversifying financial intermediary channels and mitigating the impacts of financial crises. They also have the potential to help mobilize developing Asia's significant savings to meet the region's enormous infrastructure investment needs. Drawing extensively on knowledge generated by the ASEAN+3 Bond Market Forum, the publication looks at the essential building blocks and the enabling environment for these markets, as well as the roles of government, relevant authorities, and market participants.

Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 157 pages
File Size : 40,9 Mb
Release : 2021-03-12
Category : Business & Economics
ISBN : 9781513573922

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Guidance Note For Developing Government Local Currency Bond Markets by International Monetary Fund,World Bank Pdf

This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.

Author : World Bank,International Monetary Fund,Inter-Secretariat Working Group on National Accounts,European Bank for Reconstruction and Development
Publisher : International Monetary Fund
Page : 40 pages
File Size : 52,5 Mb
Release : 2013-07-09
Category : Business & Economics
ISBN : 9781498341523

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Local Currency Bond Markets - A Diagnostic Framework by World Bank,International Monetary Fund,Inter-Secretariat Working Group on National Accounts,European Bank for Reconstruction and Development Pdf

In November 2011, the G-20 endorsed an action plan to support the development of local currency bond markets (LCBM). International institutions—the IMF, the World Bank, the EBRD, and the OECD—were asked to draw on their experience to develop a diagnostic framework (DF) to identify general preconditions, key components, and constraints for successful LCBM development. The objective is to provide a tool for analyzing the state of development and efficiency of local currency bond markets. The application of the DF is expected to be flexible, bearing in mind that the potential for LCBM development depends on economic size, financing needs, and stage of economic development.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 332 pages
File Size : 43,6 Mb
Release : 2015-09-01
Category : Business & Economics
ISBN : 9789292570804

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Implementation of the ASEAN+3 Multi-Currency Bond Issuance Framework by Asian Development Bank Pdf

The ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF) is a policy initiative of the Asian Bond Markets Initiative to create a nexus among domestic professional local currency bond markets in the region by facilitating intra-regional transactions through standardized bond and note issuance and investment processes. This report follows up on the proposal described in the Phase 2 Report of the ASEAN+3 Bond Market Forum (Sub-Forum 1), published in April 2014, to provide procedures on how to implement AMBIF in the region. AMBIF is expected to facilitate intra-regional bond and note issuance and investment by creating common market practices; utilizing a common document for submission, the Single Submission Form; and highlighting transparent issuance procedures as documented in the Implementation Guidelines for each participating market. The report also contains a set of Frequently Asked Questions to provide interested parties, including issuers in the region, with an easy reference for their potential queries and concerns on the implementation of AMBIF.

Author : Shanaka J. Peiris
Publisher : International Monetary Fund
Page : 21 pages
File Size : 46,9 Mb
Release : 2010-04-01
Category : Business & Economics
ISBN : 9781451988239

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Foreign Participation in Emerging Markets’ Local Currency Bond Markets by Shanaka J. Peiris Pdf

This paper estimates the impact of foreign participation in determining long-term local currency government bond yields and volatility in a group of emerging markets from 2000-2009. The results of a panel data analysis of 10 emerging markets show that greater foreign participation in the domestic government bond market tends to significantly reduce long-term government yields. Moreover, greater foreign participation does not necessarily result in increased volatility in bond yields in emerging markets and, in fact, could even dampen volatility in some instances.

Author : Tobias C. Hoschka
Publisher : Unknown
Page : 52 pages
File Size : 55,5 Mb
Release : 2005
Category : Bond market
ISBN : UVA:X004915319

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Developing the Market for Local Currency Bonds by Foreign Issuers by Tobias C. Hoschka Pdf

Author : International Finance Corporation
Publisher : World Bank Publications
Page : 300 pages
File Size : 43,6 Mb
Release : 2000
Category : Business & Economics
ISBN : UCSD:31822031157969

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Building Local Bond Markets by International Finance Corporation Pdf

Building local currency bond markets has become an increasingly important topic for emerging market countries, particularly since the Asian financial crisis. This report reviews why countries should consider building local currency corporate bond markets and how to evaluate what is needed and what might be developed. It includes eight country studies: Republic of Korea, Australia, Malaysia, India, Pakistan, Sri Lanka, Bangladesh, and Nepal. It is based on the IFC-sponsored South Asia Debt Market Symposium held in October 1999 in Sri Lanka, which brought together regulators and market participants from around Asia and other parts of the globe to discuss issues in developing local markets. The report is divided into two parts: Part I addresses why and how to develop bond markets. It begins with a chapter describing a framework for evaluating bond market development (which was used to produce the five South Asian country surveys in Chapters 11-15), and summarizes key points from the symposium papers and the South Asian situation. It is followed by presentations on the importance of bond markets and on the risk-management of bonds and the benefits of supranational issuance. Part II consists of country case studies.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 89 pages
File Size : 44,8 Mb
Release : 2021-12-01
Category : Business & Economics
ISBN : 9789292692858

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Detailed Guidance for Issuing Green Bonds in Developing Countries by Asian Development Bank Pdf

This guidance note aims to help bond issuers and their advisors to understand the process and key considerations for a successful green bond issuance. Demand for green bonds and other sustainable finance products is increasing rapidly, and issuers are seeing an opportunity to be part of the green bond market. This publication covers all the steps required to follow best practices in labeling bonds as green. It includes examples, links to further details, and key resources for green bond issuers and their deal teams.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 69 pages
File Size : 54,9 Mb
Release : 2017-06-01
Category : Business & Economics
ISBN : 9789292578442

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The Asian Bond Markets Initiative by Asian Development Bank Pdf

The Asian Bond Markets Initiative (ABMI) was launched in December 2002 by the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3 to strengthen financial stability and reduce the region’s vulnerability to the sudden reversal of capital flows. This paper also provides recommendations for addressing new sources of market volatility and other challenges within and outside the framework of the Asian Bond Markets Initiative.

Author : Mr.Mauro Mecagni,Mr.Jorge I Canales Kriljenko,Cheikh A. Gueye,Mr.Yibin Mu,Mr.Masafumi Yabara,Mr.Sebastian Weber
Publisher : International Monetary Fund
Page : 37 pages
File Size : 52,9 Mb
Release : 2014-06-04
Category : Business & Economics
ISBN : 9781475523102

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Issuing International Sovereign Bonds by Mr.Mauro Mecagni,Mr.Jorge I Canales Kriljenko,Cheikh A. Gueye,Mr.Yibin Mu,Mr.Masafumi Yabara,Mr.Sebastian Weber Pdf

This African Department Paper examines the rise in international sovereign bonds issued by African frontier economies and recommends policies for potential first-time issuers.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 63 pages
File Size : 54,7 Mb
Release : 2022-12-01
Category : Business & Economics
ISBN : 9789292698706

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Developing a local currency government Bond market in an emerging economy after COVID-19 by Asian Development Bank Pdf

This publication explores how a local currency government bond market is vital to strengthen economic recovery from COVID-19. It focuses on the Lao People’s Democratic Republic, as its market is exposed to many challenges also faced by other developing countries. It examines how this nation can benefit from the experiences of its neighbors in the Asian Bond Markets Initiative: the Association of Southeast Asian Nations, plus the People’s Republic of China, Japan, and the Republic of Korea (ASEAN+3). The publication highlights the essential building blocks for developing an efficient government bond market with sound cash and debt management.

Author : Juan Antonio Ketterer,Gabriela Andrade,Maria Netto,Maria Isabel Haro
Publisher : Inter-American Development Bank
Page : 36 pages
File Size : 46,8 Mb
Release : 2019-09-27
Category : Technology & Engineering
ISBN : 8210379456XXX

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Transforming Green Bond Markets by Juan Antonio Ketterer,Gabriela Andrade,Maria Netto,Maria Isabel Haro Pdf

Despite exhibiting remarkable growth, the green bond market still represents less than 1 percent of the global bond market. This paper identifies two challenges that might slow the adoption of green bonds and presents a menu of responses that policymakers, regulators, and public financial institutions can use to offset these challenges. Specifically, it explores two key dimensions: (i) the risk profile of the green bond instrument and (ii) the transaction costs associated with issuance of and reporting on green bonds. New approaches to risk design and technology-based approaches are essential to untap the potential of green bond markets, particularly in Latin America and the Caribbean and other developing regions. The incorporation of financial mechanisms such as covered bonds and guarantees can adequately address the risk of the issues, making the market more attractive for investors. Enhanced regulation and education and leveraging efficiencies of new technologies such as distributed ledger technologies can substantially reduce monitoring and reporting costs, while improving transparency in the use of proceeds and market integrity.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 121 pages
File Size : 40,5 Mb
Release : 2016-10-01
Category : Business & Economics
ISBN : 9789292575984

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ASEAN+3 Bond Market Guide 2016 Singapore by Asian Development Bank Pdf

The Singapore bond market has become one of the most developed open capital markets in Asia with over US$221 billion in total local currency bonds outstanding with an additional US$53 billion of bonds outstanding. The Singapore Bond Market Guide is an outcome of the support and contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Singapore, while the ASEAN+3 Bond Market Guide as a whole is a comprehensive explanation of the region’s bond markets. This report should be recognized as a collective good to support bond market development among ASEAN+3 members.

Author : Anonim
Publisher : World Bank Publications
Page : 120 pages
File Size : 42,8 Mb
Release : 2007-01-01
Category : Business & Economics
ISBN : 9780821368756

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Developing the Domestic Government Debt Market by Anonim Pdf

Domestic government debt markets play a critical role in managing public debt effectively and reducing the vulnerability of developing countries to financial crises. Many aspects of debt markets - money, primary, and secondary markets; a diversified investor base; and sound securities custody and settlement systems and regulation - interact in complex ways and are affected by previous policies and developments. Developing the Domestic Government Debt Market: From Diagnostics to Reform Implementation draws insights from a joint pilot program set up by the World Bank and International Monetary Fund to design relevant reform and capacity-building programs in twelve countries. The experiences of these geographically and economically diverse countries - Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia - illustrate the challenges, obstacles, and progress in applying principles of market development. Developing the Domestic Government Debt Market will serve government officials contemplating or in the process of reforming their practices, providers of technical assistance, and practitioners working on building capacity in debt market development. Because effective development of debt markets is one key piece in sound public debt management, readers will also be interested in the companion volume, Managing Public Debt, published by The World Bank in February 2007, based on the same joint pilot program.

Author : Mr.Luc Laeven
Publisher : International Monetary Fund
Page : 25 pages
File Size : 41,7 Mb
Release : 2014-12-19
Category : Business & Economics
ISBN : 9781498372206

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The Development of Local Capital Markets by Mr.Luc Laeven Pdf

Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.