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R40: FIXED-INCOME MARKETS: ISSUANCE, TRADING AND FUNDING - Coggle Diagram

- - - - Shelf registration
      - Best-effort offering
      - Sovereign bonds <= Auction
      - Municipal bonds <= Underwritten offering
  - - - Gover and quasi-govern bonds usually occurs on a T+1 basis
      - Corporate bonds usually occurs on a T+3 basis
- - - - Syndicated loans (Many => 1)
      - Bilateral loans (1 => 1)
  - - - Participation instruments (FRN)
      - Leveraged instruments (inverse floater)
      - Yield enhancement instruments (CLN)
      - Capital protected instruments
  - - - Retail deposit
        
        Saving accounts
        
        Checking account
        
        Money market accounts
      - Wholesale fund
        
        Central bank funds (mượn từ reserve funds thì nó diễn ra ở NHTW)
        
        Interbank funds
        
        CD
    - - Sell first then buy back
      - Repo rate: (Lợi nhuận của người cho vay)
        
        High ≈ longer term OR interest for alternative higher
        
        Low ≈ higher credit of collateral OR when collateral is delivered
        
        Repo margin: ( = Loaned value / Market value) => chênh lệch gọi là Haircut
        
        High ≈ longer term
        
        Low ≈ higher credit of collateral OR borrower OR collateral is highly demand