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Debt Management - Coggle Diagram
Debt Management
8 Step Plan
Financing Needs
Instrument Selection
Organization of Auctions
Organization of Maturities
Liability Management Operations
Auction Schedule
Market Communications
IT don't owned the data but the system
Review and Adjustments
Steps in Developing Domestic Debt Issuance Plan
Domestic Securities
TBills and Bonds
Issuance Plan
Type of securities
Timing
Frequency
Buybacks and exchanges
published annually and updated quarterly
Issuance Calendar (IC) is the key output
Primary Market
Role, Importance, Scope, Key Steps to develop and implement
Annual Borrowing Plan (ABP)
Market and Investor Preferences
Tender No
Failed Auction if under subscription
Process: MTDS ==> ABP ==> IP ==> IC [Front Office & Back Office]
Debt Management Strategy (DMS)
Middle Office
Financing Needs and Cashflow projections
Scenario and Risk Analysis
Back Office - settlement, accounting, recording, reporting arrangements
Procedural responsibilities in a small team
Choose the manage the risks if we do not have the luxury
Quarterly Issuance Calendar
Benefits
Short-term focus
Flexibility
Timely Information
Enhance Engagement with Investors
Alignment - DMS, ABP, IP
Cash Management
Investor Engagement Strategy
Central Bank
Fiscal Auction
Quarterly Issuance (Calendar)
MTDS 2025 - 2027
TA: Mathew Appleby