An institutional setup of the czech market for treasury securities

Zdeněk Dvorný

Prague Economic Papers, 2003, vol. 2003, issue 2, 145-153

Abstract: This theoretical paper maps the transition experience of the financial sector using evidence from the Czech money market. Especially, the respect is paid to the structure of interest rates during the period from 1993 to 2001. The main components of the money market that mostly determine the term structure are the interbank deposit market and the market for short-term securities. The study abstains from interbank market survey and provides a detailed description of the default-free short-term securities market and its impact on past interest rate movements.

Keywords: Czech National Bank; treasury bills; treasury bonds; fixed income securities; taxation (search for similar items in EconPapers)
JEL-codes: E43 E44 E58 G28 (search for similar items in EconPapers)
Date: 2003
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DOI: 10.18267/j.pep.211

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