cash and savings certificates

Debt securities Bonds and notes Money market instruments

Of dated stocks in market hands as at 31 March .

Debt securities Bonds and notes Money market instruments Euro

Debt securities US Dollar Bonds and notes Money market instruments

Debt securities Other currencies Bonds and notes Money market instruments

( e ) Primary and secondary market , Euro bonds and domestic straight bonds , convertibles , floating rate notes , CDs , short and mediumterm notes .

1 ) See Box 4.2 for a description of the types of open market transactions .

Some segments of the capital market which had previously been underdeveloped , such as the corporate bond market , have grown significantly .

As Box 3 shows , rising credit risk , indicated by a widening of corporate bond spreads , is typically associated with higher spreads of bank lending rates over market rates .

0 ) The information in this column is on the money market cash reserve .

The control of the amount of money in the economy is known as monetary policy.

Money market rates , government bond yields , stock market indices monthly data from January 1994 .

This seemed to suggest that , as a result of the decision to raise interest rates , market participants had revised their long term inflation expectations downwards and lowered the magnitude of the inflation risk premium required for holding eurodenominated bonds .

the foreign reserves , all issued by non euro area residents

The decision to purchase covered bonds outright was taken in order to support the covered bond market , which is a very important financial market in Europe and a primary source of financing for banks .

Simplicity and transparency ensure that the intentions behind monetary policy operations are correctly understood .

Portfolio investment Equity securities Debt securities Bonds and notes Money market instruments III .

The nominal bond yields are derived from the market prices of French fixed income bonds which also mature in 2009 . 20

quantitative monetary easing in March 2001 aimed at providing ample liquidity and keeping short term interest rates close to zero percent . Over the second half of 2001 , long term bond yields did not decline further , reflecting market participants increasing concerns about the high level of issuance , and lowered credit ratings , of Japanese government debt .

The nominal bond yields are derived from the market prices of French fixed income bonds which also mature in 2009 .

5 Estonia does not have a developed market for long term bonds denominated in domestic currency .

Box 4.2 Types of open market transactions Reverse transactions are the main open market instrument of the Eurosystem and can be used for all kinds of liquidity providing open market operations .

This is a feedback box called a petition box.

Box 13 provides further information on the integration of the euro area credit market .

Bonds that are issued simultaneously on the domestic and the euro market , privately issued bonds .

notes and bonds , bills , zero bonds , money market paper held outright , including government securities stemming from before EMU , denominated in euro .

This indicates that in 2005 market participants expected fairly limited near term yield fluctuations in the euro area bond market .

GDP represents the value of all the goods and services produced by an economy over a specified period .

Note The real bond yields are derived from the market prices of French bonds which are indexed to the French CPI ( excluding tobacco ) and mature in 2009 .

The covered bond purchases fostered primary issuance and reduced the particularly elevated spreads in this market .

If the ECB purchases their bonds, governments will be able to ignore market pressure.

Marketable notes and bonds , bills , zero bonds , money market paper , all issued by non euro area residents

Marketable notes and bonds , bills , zero bonds , money market paper , all issued by non euro area residents

requirements to uphold market efficiency and integrity including transparency obligations ( articles 23 28 )

Note The real bond yields are derived from the market prices of French bonds which are indexed to the French CPI ( excluding tobacco ) and mature in 2009 . The nominal bond yields are derived from the market prices of French fixed income bonds which also mature in 2009 .

Note The real bond yields are derived from the market prices of French bonds which are indexed to the French CPI ( excluding tobacco ) and mature in 2009 .

Box model box, grid, stack, deck, etc.

So we had some theories related to cash flow, and lack of access to capital markets, and things like that.

The fall in stock prices was accompanied by an exceptionally high level of uncertainty , as measured by implied stock market volatility , notably in the period between mid May and early October ( see Chart 8 ( b ) and Box 3 ) .

Bonds that are placed simultaneously on the market of at least two countries and are denominated in a currency which need not be that of either , usually through an international syndicate of financial corporations of several countries , global bonds .

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This decision aimed to support the covered bond market , which is a very important segment of the financial market in the euro area and a primary source of financing for banks .