Budget and Contingent Term Repo Facility: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Layout.)
 
imported>Doug Williamson
(Update.)
 
Line 1: Line 1:
1.
''Bank of England.''


Any plan expressed in monetary terms.
(CTRF).


The Bank of England's Contingent Term Repo Facility (CTRF) is one of three key components of the liquidity insurance part its Sterling Monetary Framework (SMF).


2.
The CTRF is designed for conditions of actual or prospective market-wide stress of an exceptional nature.


The level of taxation minus government spending.


A budget surplus is where taxation exceeds government spending.  
The CTRF's key features are:
*Initiated by the Bank of England.
*Flexible term.
*Bank of England reserves (effectively cash) lent against collateral.
*Auction pricing.


A budget deficit is where government spending exceeds taxation.


The other two key facilities in the Bank's liquidity insurance structure are the Discount Window Facility (DWF) and the Bank's Indexed Long-Term Repo (ILTR) operations.


3.'' UK.''


A formal statement - normally made annually - by the UK Chancellor of the Exchequer setting out the government's taxation proposals for the next fiscal year.
==See also==
 
*[[Bank of England]]
 
*[[Collateral]]
4.
*[[Discount Window Facility]]
 
*[[Indexed Long-Term Repo operations]]
Similar formal statements made by the finance ministers of other governments, or by the responsible officers of other organisations.
*[[Liquidity]]
 
*[[Liquidity insurance]]
 
*[[Official Bank Rate]]
== See also ==
*[[Operational Standing Facilities]]
* [[Finance Act]]
*[[Repo]]
* [[Fiscal year]]
*[[Reserves]]
* [[Risk budget]]
*[[Sterling Monetary Framework]]
* [[Variance analysis]]
*[[Stress]]
* [[Zero based budgeting]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]

Revision as of 06:15, 8 August 2016

Bank of England.

(CTRF).

The Bank of England's Contingent Term Repo Facility (CTRF) is one of three key components of the liquidity insurance part its Sterling Monetary Framework (SMF).

The CTRF is designed for conditions of actual or prospective market-wide stress of an exceptional nature.


The CTRF's key features are:

  • Initiated by the Bank of England.
  • Flexible term.
  • Bank of England reserves (effectively cash) lent against collateral.
  • Auction pricing.


The other two key facilities in the Bank's liquidity insurance structure are the Discount Window Facility (DWF) and the Bank's Indexed Long-Term Repo (ILTR) operations.


See also

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Budget&oldid=11170’