Malaysia : Bond Market Development

This paper pertains to the bond market development in Malaysia, and provides an overview of the market scenario in the country. Malaysia has been successful in developing the capital markets, particularly bond markets, in the recent past. Now, it faces the challenge of how to improve broader access and efficiency of the bond market. A high degree of investor concentration, dominated by government pension funds, plays a significant role in impeding the growth of higher-yield bond market. The role of the government in stimulating the growth of the bond markets should be now shifted toward encouraging more diversity. In order to promote risk diversity, significant measures should be taken to increase competition on the demand side. Another important challenge for the bond markets going forward is improving transparency to make them more attractive to a broader constituency. To improve liquidity and transparency, the authorities should encourage the establishment of open, independent electronic platforms that integrate price search, negotiation, and trading of bonds. It is felt that while Malaysia has seen success in the bond markets, there is scope for further improvement.

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Détails bibliographiques
Auteurs principaux: International Monetary Fund, World Bank
Format: Financial Sector Assessment Program (FSAP) biblioteca
Langue:English
en_US
Publié: World Bank, Washington, DC 2013-01
Sujets:ACCESS TO CAPITAL, ACCESS TO INFORMATION, ASSET BASE, ASSET CLASS, ASSET CLASSES, ASSET MANAGEMENT, ASSET MANAGERS, BACKED SECURITIES, BALANCE SHEET, BALANCE SHEETS, BANK BRANCHES, BANKING INSTITUTION, BANKING SECTOR, BANKING SYSTEM, BID, BOND, BOND FUNDS, BOND INSTRUMENTS, BOND INVESTMENTS, BOND ISSUANCE, BOND ISSUES, BOND MARKET, BOND MARKET ACCESS, BOND MARKET DEVELOPMENT, BOND MARKETS, BOND PRICE, BOND TRADING, BOND YIELD, BRANCH NETWORKS, BROKER, BROKERS, CAPITAL MARKET, CAPITAL MARKETS, CASH FLOWS, COLLATERAL, CONTINGENT LIABILITIES, CORPORATE BOND, CORPORATE BOND MARKET, CORPORATE BONDS, CORPORATE DEFAULT, CORPORATE GOVERNANCE, COUPON, CREDIT GUARANTEE, CREDIT LINE, CREDIT RATING, CREDIT RATING AGENCIES, CREDIT RISK, CREDIT RISKS, DEBT INSTRUMENTS, DEBT ISSUER, DEBT MARKET, DEBT SECURITIES, DEBT SECURITIES MARKET, DEBTORS, DEFAULT RATE, DEFAULTS, DEPOSITORY INSTITUTION, DEPOSITORY INSTITUTIONS, DEPOSITORY SYSTEMS, DEPOSITS, DEVELOPMENT BANK, DEVELOPMENT OF DOMESTIC BOND, DOMESTIC BANKS, DOMESTIC CREDIT, DOMESTIC CREDIT RATING, EMERGING MARKET, EMERGING MARKETS, EQUITIES, EQUITY FUNDS, EQUITY INSTRUMENTS, EQUITY INVESTMENTS, EQUITY MARKET, EQUITY MARKETS, EXTERNAL CREDIT RATINGS, FINANCIAL ASSETS, FINANCIAL CRISIS, FINANCIAL INSTITUTION, FINANCIAL MARKET, FINANCIAL SECTOR INTERMEDIARIES, FIXED INCOME, FIXED INCOME INVESTMENTS, FIXED INCOME MARKET, FIXED INCOME MARKETS, FIXED INCOME PORTFOLIOS, FOREIGN EXCHANGE, FOREIGN INVESTOR, FOREIGN INVESTORS, FUND MANAGEMENT, FUND MANAGERS, FUTURE CASH FLOWS, GOVERNANCE STANDARDS, GOVERNMENT BOND, GOVERNMENT BOND MARKET, GOVERNMENT BONDS, GOVERNMENT DEBT, GOVERNMENT DEBT SECURITIES, GOVERNMENT INTERVENTION, GOVERNMENT INTERVENTIONS, GOVERNMENT SECURITIES, HIGH-YIELD DEBT, HOLDINGS, HOUSING FINANCE, ILLIQUID SECURITIES, IMPLICIT GOVERNMENT GUARANTEES, INCOME INSTRUMENTS, INDIVIDUAL INVESTORS, INFRASTRUCTURE DEVELOPMENT, INSTITUTIONAL INVESTOR, INSTITUTIONAL INVESTORS, INSURANCE, INSURANCE COMPANIES, INSURANCE INDUSTRY, INSURANCE PRODUCTS, INTERNATIONAL BANK, INVESTING, INVESTMENT DECISIONS, INVESTMENT OPPORTUNITIES, INVESTMENT OPPORTUNITY, INVESTMENT PORTFOLIO, INVESTMENTS IN EQUITIES, INVESTOR BASE, INVESTOR INTEREST, ISLAMIC BOND, ISLAMIC CAPITAL, ISLAMIC CAPITAL MARKET, ISLAMIC FINANCE, ISLAMIC FINANCIAL INSTITUTIONS, ISSUANCE, ISSUANCE OF BONDS, ISSUANCES, LEVEL PLAYING FIELD, LIABILITY, LIFE INSURANCE, LIQUIDITY, LIQUIDITY PROBLEMS, LOCAL CURRENCY, LONG-TERM INVESTMENT, MARKET CAPITALIZATION, MARKET EFFICIENCY, MARKET INFRASTRUCTURE, MARKET INTERMEDIARIES, MARKET LIQUIDITY, MARKET MAKER, MARKET MAKERS, MARKET PARTICIPANTS, MARKET RISK, MARKET SHARE, MARKET STRUCTURE, MARKET SUPERVISION, MARKET TRANSPARENCY, MATURITY, MONETARY FUND, MONEY MARKET, MONEY MARKET INSTRUMENTS, MONEY-MARKET, MORTGAGE LOANS, MUTUAL FUND, MUTUAL FUND INDUSTRY, MUTUAL FUND MANAGERS, MUTUAL FUNDS, OWNERSHIP STRUCTURE, PARTIAL GUARANTEE, PENSION, PENSION FUND, PENSION FUNDS, PENSIONS, PORTFOLIO, PORTFOLIO HOLDING, PRICE DISCOVERY, PRIMARY MARKET, PRINCIPAL ASSET, PRIVATE CREDIT, PRIVATE DEBT, PRIVATE DEBT MARKET, PRIVATE EQUITIES, PRIVATE PLACEMENT, PROPERTY INVESTMENTS, PUBLIC BANK, PUBLIC DEBT, PUBLIC DEBT SECURITIES, REGULATORY FRAMEWORK, RESERVES, RESIDENTIAL MORTGAGE, RETAIL INVESTOR, RETAIL INVESTORS, RETURN, RETURNS, RISK AVERSION, RISK MANAGEMENT, RISK OF DEFAULT, RISK PROFILE, RISK PROFILES, SAVINGS RATE, SECONDARY MARKET, SECONDARY MARKETS, SECURITIES INDUSTRY, SECURITIES ISSUANCE, SETTLEMENT, SETTLEMENT SYSTEM, SOVEREIGN RISK, SUBORDINATED BONDS, SUKUK, T-BILLS, TAX, TAX DEDUCTIONS, TAX EXEMPTION, TAX INCENTIVE, TAX INCENTIVES, TAX TREATMENT, TELECOMMUNICATIONS, TRADING, TRADING VENUE, TRANCHES, TRANSPARENCY, TREASURIES, TREASURY, TRUST FUND, TRUST FUNDS, TYPE OF INVESTORS, VALUATION, WITHDRAWAL,
Accès en ligne:http://documents.worldbank.org/curated/en/2013/01/18639187/malaysia-bond-market-development-technical-note
http://hdl.handle.net/10986/16713
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