1. 4. Money market International financial services 1

2. Main fields of interest
Money market architecture
Main segments of money market
Main instruments
Interest rates quotation, reference interest rates

3. Money market structure
O/N interest rate
Spot yield curve
Forward yield curve, volatility of interest rates
Interest rates spread
Unsecured interbank market
Banking system liquidity management
Interest rates derivatives
Short-term securities
Monetary policy implementation
Secured interbank market
Liquidity of banking system
Individual liquidity
Speculation
Hedging
Liquidity investments

4. Unsecured interbank market
main segment of money market used for alocation liquidity among the banks and for liquidity distribution between central bank and banks
strong O/N maturity preference in liquidity managmenet and due to credit risk management
under strong impact of financial crisis, new capital base and liquidity regulation
strong preference of counterparty from home economy (inside monetary union)

5. Maturity structure and volume of trades in EUR interbank market

6. Structure of counterparties on Euro interbank market in 2010

7. Secured interbank market – repo market
repo as term deposit secured by collateral in terms of securities or as a sell and buy back transaction
main instrument for bank‘s liquidity management and short-term funds alocation
a way of financing of bond issuance, bond holding and short exposure covering in securities market
bilateral, bilateral CCPs (BrokerTec, Eurex repo a MTS) and tri-party repo trades (custodian banks)
repo rate as a price of repo trade
initial margin and haircut
preference of short-term maturity

8. Dolar, euro and pound repo market

9. Structure of Euro repo market according a type of trade

10. Main interest rate derivatives
FRA
interest rate swap
interest rate option
exchange traded futures and options

11. Euromoney market Eurointerbank market
Leading world bank‘s liquidity management
LIBOR as reference interest rate for banking loans
Eurocommercial papers and euronotes
Alternative to short-term banking loan and T-bills