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Commonwealth

Goverment
Securities
(Australia Edition)
Debt Management 3C KBN 2013
Elfin Luthfiah Hilda Permatasari M. Aldi Jayadilaga Nanda Thahera Ulga Natasha
Alberta Rus Onika Ofrany Ginting

Australian Goverment
issues Commonwealth Goverment Securities
Treasury Bonds
Treasury Indexed Bonds

Siapa yang mengelola?

Australian Office of Financial Management

Features of CGS

AAA rated
Transparent and regularly
Strong liquidity

Tujuan utama AOFM

Managing Australian Goverments debt portofolio


Issuance of Commonwealth Goverment Securities

Managing Australian Goverments overall cash balance


Any investment in financial assets

- Deal execution
- Funding &
liquidity
management

Reporting
portofolio of debt
and assets
managed by AOFM

Develops
Australian
Goverments debt
management
strategy &
financial risk
management
policies

- AOFMs
statutory
financial &
budget reporting
- Managing debt
registry provider
and services

Conducts &
maintains regular
communication
with
existing/new/poten
tial investors

Maintaining
complementary
frameworks for
enterprise risk &
assurance

Kenapa harus investasi di


Australian Goverment
Bonds?

Security
Stable & regular
income

Diversification

Choice of maturitues

Liquid investment

Treasury Bonds

Medium ~ long term debt securities with a fixed face value


Clearing House Electronic Subregister System (CHESS) depositary
interest
Issued by Australian Goverment
Face value
Coupon
Payment every six months

Yield to maturity
Maturity date
Market price
Capital Price
Accrued Interest

Apa sih keuntungannya?

Security payment & re-payment made by Australian Goverment


Receive regular, stable income
Reduce risk through diversification
Avoid locking away your money Liquid investment
Wide range of investment terms less than a year ~ >15 years

Resiko

Interest Rate Risk


Un-favourable movement in market interest rates
Volatile

Resiko

Credit/Repayment Risk
Issuer unable to make coupon payment/repayment Face Value
at maturity

Resiko

Liquidity Risk
Not being able to sell investment quickly & easily

Treasury Indexed Bonds

Medium ~ long term debt securities with a fixed face value


Clearing House Electronic Subregister System (CHESS) depositary
interest
Issued by Australian Goverment
Face value adjusted for movements in Consumer Price Index (CPI)
Coupon
Payment every three months

Yield to maturity
Maturity date
Market price
Face Value
Inflation Accrued
Accrued Expense
Premium/Discount

Apa sih keuntungannya?

Security payment & re-payment made by Australian Goverment


Receive regular, stable income
Reduce risk through diversification
Avoid locking away your money Liquid investment
Wide range of investment terms less than a year ~ >15 years
Hedge against inflation

Settlement

H+3
Involves two simultaneous processes:

Payment is made for the trade by electronic transfer


Legal ownership of the security is transferred to the buyer