Agreement on Open Market Operations
关于公开市场操作的协议
ຂໍ້ຕົກລົງວ່າດ້ວຍ ການດຳເນີນຕະຫຼາດເປີດ
Summary
This agreement regulates open market operations for the purchase and sale of securities between the Bank of the Lao PDR and financial institutions, aiming to adjust currency circulation and enhance the effectiveness of monetary policy.
Articles
Article ມາດຕາ 1
Article 1 Purpose
This agreement sets forth principles, regulations, and measures regarding the management of open market operations in order to make such market a tool for adjusting the liquidity of financial institutions, aiming to make the implementation of monetary policy effective.
Article ມາດຕາ 2
Article 2 Open Market Operations
Open market operations are the buying and selling of securities between the central bank and members to manage the amount of money in circulation.
Article ມາດຕາ 3
Article 3 Interpretation of Terms
The terms used in this agreement have the following meanings:
1. Member means a financial institution that has been authorized in writing by the BOL to conduct transactions in the open market;
2. Primary market means the market for the issuance of securities by the BOL to members;
3. Secondary market means the market for the purchase and sale of securities between the BOL and members;
4. Remaining term means the remaining period from the date of purchase or sale of a security to the maturity date of that security;
5. Securities means instruments certifying obligations for payment between the issuer and the holder, specifying terms, interest, and other conditions, including BOL bonds, government bonds, and other securities as determined by the BOL from time to time.
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