BFL - reira ... OFZ: definition, reiti mākete

Russian Tāhuhu o te kaupapa here a Finance ko ki te whakapiki ake i te roanga o taurewa tono moni. Ko te mahi o te taputapu kāwanatanga e hāngai ana i whakawhänui i te rārangi o mea pūtea i te tikanga o nei whakahaere te tono te. Hei wāhanga o tenei kaupapa i roto i te 1995, i roto i te marama o Pipiri, ka mau te reira wahi OFZ. Tenei here taurewa e hānga ana, engari ki te coupon tāupe.

He aha te mea BFL?

here taurewa Federal, ranei OFZ - ko tetahi o nga momo o peeke i Russia, puta nei i te Tāhuhu o Finance. I roto i te meka, here i te hōputu paerewa, ngā ratou anake i roto i te meka e te tika o nga peeke e whakaratohia ana e te State ano. whakahaere hokohoko rawa te i runga i te utu kararehe Moscow. Ka taea te rite hoko o here i roto i tetahi kaihokohoko. Hokona a he toa OFZ here noho Russian, me tangata ke. Utu ia here kotahi he 1000 moni. Tei runga i te rahi o te pepa takoto e tona tukua, i rite nei ki te hōtaka tāpui hou. Ko te whakaaro matua o ēnei peeke he ki te kukume whakapaipai ki te pūtea te whenua o.

Ko te wāhanga i muri mai o te whanaketanga mākete

Ko te mo OFZ Russian anake ki te Tāhuhu o Finance. I roto i te meka, tenei here, he taumata tiketike o te tika i whakarite te āhua Russian. Trades OFZ puritia i roto i te anga o te utu kararehe Moscow. Ka taea te hokona rawa i roto i tetahi kaihokohoko. Buyers me kau ma'u o OFZ taea e rua Russian, me te ke hinonga ture me takitahi. Per here kaihoko hoatu 1000 moni. taputapu hokohoko Tukua rite ki te tukua o te moni tāpui pēke. Putanga here whakahoutia i roto i 1995 tohua te wā o te whanaketanga mākete, ka ko reira rite ki te farii i te tarahu mea ki te roanga o te tau neke atu i te kotahi. Kua riro hoki bidders wheako i roto i te tikanga ki te whakahaere i te taputapu mātanga hou. i rite rawa hohoro Ture, me te turanga hangarau. I roto i te āhuatanga hangarau o te whakanohonga o here, ratou tohanga me te whakaoranga he tukanga rite wāhi i roto i te T-pire.

Here ki te momo moni coupon tāupe

BFL - Ko tetahi o nga momo o peeke e te hunga e wātea ana i roto i te maha o ngā tenei. pepa Popular ki te momo unknown o coupon ana'iraa (OFZ-PK). Tuhinga hoatu ratou rangatira te wa e tika ana ki te tiki i te moni moni i te wa wa ki. Auautanga o utu e taea e rua ranei wha nga wa i roto i te tau. Te rahi o ia o nga tīkitipati BFL-PC i lau tonu i te aroaro o te wā tīmatanga o te coupon, tei reira ki runga i te tuku GKO nāianei e te hunga tata ōrite tīkitipati wā utu. Whakaaetia ki te whiwhi i te hekenga, ki te he te here taurewa e hānga ana (OFZ) te utu o whakanohonga i roto i te mākete tuatahi tuarua ranei, iti iho i te utu o to ratou utu, tae atu i te uara mata. BFL - he peeke ki te uara par o 1,000 moni, ki te tika o te 1 tau ki te 5 tau.

OFZ-PD, OFZ-FD me OFZ-AD: ariā whānui

OFZ-AD, PD me OFZ OFZ-PD - he here e Whakaröpütia rite peeke, ki te pai tetahi coupon. E tika ana ngā āhuatanga peeke kauwhautia e te Kaituku mua ki te rā o ratou take, me o ratou kau ma'u ki te farii i te moni moni auau. Ka rite ki te kāwai o mua o here, tā whiwhi he hekenga i runga i ngā ōrite. Tei runga i te momo rawa, wā o te maimoatanga kia rerekē i te 1 tau ki te 30 tau. Iti, ki te kahore OFZ-FD he rite ki te 1000 moni. Ka taea e hoki PD haapa'oraa rerekē i te 10 ki te 1000 moni. paheke he puka pakipūmeka. Rokiroki rawa pāpāho tā ko te tikanga matua mo tona utu i roto i te heke mai.

Highlights tuku

Hoki te āhuatanga ia take o here e te aroaro o te waehere rēhita kāwanatanga, i te mea rite i roto i te hanganga ki te waehere o T-pire. Ko te okotahi anake he rua te mati, e tohu ana i te momo o te haumaru. Ia take o te tukua OFZ e hāngai ana ki te nuinga o ngā hōtaka moni tāpui, tahi e te tuku o te tiwhikete ao tuku i roto i rua ngā tārua, e penapena i roto i te nehua o te Tāhuhu o Finance. Coupon moni - ko te rerekētanga matua i te here GKO.

mākete OFZ ki te auau coupon tere

OFZ whakanohonga o tere tere i runga i te mākete kararehe Russian ko taunakitanga o whakawhänui te hōkai o te nama ki te tāupe auau huamoni. kakau te pakaruhanga i te meka e whakarato nga here katoa o tenei momo i roto i te ao i te whai wāhi ki te whakaiti i tūpono auau huamoni, e kia tika ki rerekē nui i roto i ngä päpätanga huamoni, angamaheni mo haumi wā roa-. Whakaiti i te tūponotanga o te parekura investor, e wehi ana ratou hua, me te nama kore nei e hiahia ana ki te whakaiti i a ratou.

Te ao i roto i te 1996 here ki te auau tāupe nohoia e pā ana ki 46% o te mākete. I roto i Russia, Kei te tipu haere te rongonui o te OFZ-PD. Tenei kōrero e te mākete, ko te kaupapa ki huringa faufaa. riro Coupon moni kitea e kore anake i te wa o te utu, engari ano hoki ki te faaoti kirimana i roto i te mākete tuarua. Na roto i te tomo ki roto ki te hoko, e kore me te kaihoko mai utu anake te uara mata o te here, me utu e ia te tukua coupon, kia e ōrite te wa noho o te hua pümau i te kaihoko. Ka rite ki ki peeke katoa, tuhituhia OFZ-PK te i runga i te ture.

Whai wāhitanga o pūtea ke i roto i te mākete here

he tuwhera ki pūtea ke mākete GKO-OFZ. Ko te tiamana o te Tāhuhu o Finance me ngā māngai o te Central Bank nui haere nga taea o kapitalovkladchikov te uru i roto i te ahunga o te haumi i roto i te peeke, kāinga. Ko te wāhanga kāinga mō ngā kaiuru mākete ke he ātaahua hoki te take e te hoko o peeke, mau te mana o e nui kotahi tau, etahi kupu whakaari. Ko te kupu, e taea te kawea te tātaitanga o te rawa riro atu i roto i moni, a tika i te pūkete haumi. iriti i te reira i te taea hoki te faafariuraa atu o moni RUPO i roto i moni ke ki te hanga o hua, aua. GKO-OFZ - he faingamālie nui ki tino etahi tūponotanga i roto i te kōpaki haumi. I te wā o te hanganga o nga kaihoko mākete me pūtea ki te whakarato i te kaha ki te natulá engari ano whakawhitinga Arbitrage kore anake.

mākete here Auau

E whakaritea me te tāupe OFZ auau mākete. E whakatakotoria reiti Permanent whakaritea ranei mo ia wā coupon o ia take takitahi. i hanga auau tāupe te hāngai i runga i te raraunga e pā ana whakaahua i te auau o te pikinga. auau OFZ tei te nuinga i runga i te auau matua o te Central Bank. Ko te rerekētanga i waenganui i te whika, ko te he torutoru noa ngā. I muri i te puna o te whakaiti reiti i raro 13%, tonu kaiuru mākete ki te titau i te heke. Ka kitea tënei i te tono iti mō te nama. Na, i roto i te moni tāpui mākete April mo te moni o 110 piriona moni i te tere o 12.5% i taea ki te hāngai te katoa 75 piriona i te tere o 13.02%. Ko here, kua whakapumautia te mākete ona hua o 10,72%. Ko e toru nga wa ki runga ake i te supply e wātea ana te tono. E kore e Povljana i runga i te āhuatanga hipoki ki te takere pūtea o te kōrero e rite ana ki te hua o aukati i Europe. pūtea Western auau hiahia, haere tonu ki te āta whai wāhi i roto i te mākete.

He aha e nga mahere o te kāwanatanga Russian?

Hoki te mākete OFZ kāwanatanga Russian - ko te whai wāhitanga nui ki te kati i te taurewa e tenei te tarepa pūtea. Kei te whakaritea te reira ki te puta peeke i te nui o 250 piriona moni, ki te rōrahi kupenga o te attraction o 112 piriona moni. Na tawhiti, mai i te timatanga o te tau i te reira kua mohio i roto i te nui o 93.3 piriona moni o here ki te rōrahi kupenga o ngā ki te haunga te 12.9 piriona moni. I roto i ka hei te rōrahi tata o nga peeke rawa o 150 piriona moni ki runga ki te rima tau, te whakamahere 80 piriona moni te ki te tuku i te pepa ki te wā o te 5 ki te 10 tau. ka te katoa o 20 piriona moni e tukuna peeke, ki te hurihanga hoki neke atu i te 10 tau. Te nuinga o nga peeke, i roto i te heke mai ka waiho i te auau tere. E ai ki ngā tohunga, nga here Maehe whakaputaina e te Central Bank o te Russian Federation, he overpriced rawa, a i roto i tenei whakaaro, tūmanakohia e bidders katoa ki te whakaiti ratou uara i te mutunga o te puna. tonu te pēhanga tino i runga i here ki te RUPO vaivai.