- . , .
:
- ( - - );
- ( );
- ( 3- ; 12- ; 12- );
- ( );
- ( ).
( , repurchase agreement, REPO) , / / (special collateral) (general collateral) .
11.
11
, : | - (REPO) ; - (reverse REPO) , .. |
- (overnight REPO) , , ; - ; - ( ) (open REPO), (demand REPO, at call-REPO) , , , ; - (REPO-to-maturity) , , ; - (forward-start-REPO) . |
. 11
- (delivery (out) REPO) , , ; - (three-party REPO) , , , . . , four-party REPO. ; - (hold-in-custody REPO) , . | |
- (fixed-rate REPO) , ; - (floating-rate REPO) , , - . |
|
|
:
- , , () ;
- ( ) .
() ( ) () ( ) . , , . , , .
6.
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. 6.
(14):
(14)
R1, R2 - , , . % ;
t , .
, .. (∆D), (G), , (d), (15):
|
|
∆D (15)
. , , . . - , -ѻ Bloomberg.
, , 2004 .