Guidance for Operational Risk Management in Government Debt Management

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作者：

Magnusson, Tomas

来源地址：

http://hdl.handle.net/10986/27822

关键词：

ASSURANCE;  AUDIT COMMITTEE;  AUDITORS;  BANKING SECTOR;  BANKRUPTCY;  BORROWING;  BUSINESS ENVIRONMENT;  BUSINESS RISK;  CASH BALANCE;  CASH FLOW;  CATASTROPHES;  CENTRAL BANK;  CENTRAL GOVERNMENT DEBT;  CODE OF CONDUCT;  COLLATERAL;  COMMERCIAL LOANS;  CONFLICT OF INTEREST;  CONTRACTUAL OBLIGATIONS;  COVERAGE;  CREDIT RISK;  CREDIT RISKS;  DEBT DATA;  DEBT MANAGEMENT;  DEBT PAYMENTS;  DEBT SERVICE;  DERIVATIVES;  DEVELOPING COUNTRIES;  DISASTERS;  DOMESTIC MARKET;  DRIVERS;  EFFICIENT MARKET;  EQUIPMENT;  EXCHANGE RATE;  EXPOSURE;  EXTERNAL BORROWING;  FINANCIAL INSTITUTIONS;  FINANCIAL MARKETS;  FINANCIAL PORTFOLIO;  FINANCIAL SECTOR;  FINANCIAL STATEMENTS;  FINANCIAL TRANSACTIONS;  FISCAL POLICY;  FOREIGN BANKS;  FRAUD;  GOVERNMENT DEBT;  GOVERNMENT SECURITIES;  HUMAN RESOURCE;  HUMAN RESOURCES;  INADEQUATE SUPERVISION;  INCOME;  INFORMATION FLOWS;  INSURANCE;  INTEREST RATE;  INTEREST RATE RISK;  INTERNAL AUDIT;  INTERNAL CONTROL;  INTERNATIONAL SETTLEMENTS;  LEGAL AUTHORITY;  LEGAL FRAMEWORK;  LEGAL RISK;  LIQUIDITY;  LIQUIDITY RISK;  LIQUIDITY RISKS;  LOAN;  LOAN AGREEMENTS;  LOAN GUARANTEES;  LOCAL GOVERNMENT;  LOCAL GOVERNMENTS;  MACROECONOMIC POLICIES;  MANAGEMENT OPERATIONS;  MARKET BORROWING;  MARKET CONFIDENCE;  MARKET FOR GOVERNMENT SECURITIES;  MARKET PARTICIPANTS;  MARKET RISK;  MATURITY;  MITIGATION;  MONETARY POLICY;  OPERATIONAL RISK;  OPERATIONAL RISKS;  OUTPUTS;  OUTSOURCING;  PORTFOLIO;  POWER OUTAGES;  PRIMARY DEALERS;  PRIVATE SECTOR;  PUBLIC DEBT;  PUBLIC DEBT MANAGEMENT;  REGULATORY CAPITAL;  REPUTATION;  REPUTATION RISK;  RESIGNATION;  RISK ASSESSMENT;  RISK EXPOSURE;  RISK EXPOSURES;  RISK MANAGEMENT;  RISK MANAGEMENT POLICIES;  RISK MANAGEMENT STRATEGIES;  RISK PROFILE;  RISK PROFILES;  SAFETY;  SCANDAL;  SEGREGATION OF DUTIES;  SOVEREIGN DEBT;  SUPPLIERS;  SWAP;  SWAPS;  TERRORISM;  TRADING;  TRANSACTION;  Report; 

年份：

2010

出版地：

Washington,USA

语种：

English

摘要：

Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. In debt management operations, the categories of risks, such as market risk, credit risk, refinancing risk and liquidity risk, are relatively well known; however operational risk is not. The area has not been given due attention to by government debt managers in developing a risk management framework. A similar conclusion on aspects pertaining to operational risk management is borne out from the early results of the World Bank's assessments using its government Debt Management Performance Assessment (DeMPA) tool. This paper thus, introduces the concepts of operational risk as applied to government debt management (DeM) and attempts to present a framework for debt managers to manage operational risks while undertaking public debt management operations. It draws on existing literature for operational risk management principles and practices that have been formulated by the Bank for International Settlements (BIS) Basel Committee on Banking Supervision, the Committee of Sponsoring Organizations (COSO) and the findings of the DeMPAs.