One of the ways that Australian banks raise money is by issuing bonds. In late 2012 and early 2013 several banks repurchased large volumes of their bonds. Write a report that describes the type of bonds that the banks were buying back and investigates some of the reasons for the buybacks.
(1) The recommended textbooks for the subject. (2) The Reserve Bank’s website www.rba.gov.au, (3) Reserve Bank of Australia 2009, ‘Box B: ‘Government Guarantees on Deposits and Wholesale Funding’, Financial Stability Review, March, pp. 43-44. (4) Reserve Bank of Australia 2013, ‘Box D: The Buybacks of Government Guaranteed Securities’, Statement of Monetary Policy, February, pp.54-55. (5) Reserve Bank of Australia 2014, ‘Domestic Financial Markets’, Statement Monetary Policy, February, p 46.
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