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Findings of Fall 2009 Questionnaire on Cash Management Practices in
SEE and CIS countries PEMPAL
Treasury Community of Practice Meeting
November 2009Ljubljana
Survey Universe
• 18 countries
• SEE countries (CEF member countries and Turkey): Albania, Bosnia and Herzegovina, Bulgaria, Kosovo, Macedonia, Moldova, Montenegro, Serbia, Romania, Slovenia and Turkey
• CIS members except Moldova: Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan
All central government revenues and expenditure go through TSA in the CB
18
0
Yes No
Local governments in TSA
10
6 Yes
No
4
1
CIS countries
65
SEEcountries
The CB pays interest on cash balances in the TSA
10
8 Yes
No
7
43
4
Bank accounts in commercial banks:
0
2
4
6
8
10
12
14
16
central government local governments
Yes
No
0
1
2
3
4
5
6
central government local governments
0
1
2
3
4
5
6
7
8
9
10
central government local governments
Primary purposes of these accounts:
0
2
4
6
8
10
12
14
a. to collect revenues b. to make budget payments
c. to invest surplus cash d. to manage donor funds
Yes
No
0
1
2
3
4
5
6
a. to collect revenues
b. to make budget
payments
c. to invest surplus cash
d. to manage donor funds
0
1
2
3
4
5
6
7
8
9
a. to collect revenues
b. to make budget payments
c. to invest surplus cash
d. to manage donor funds
Commercial bank accounts:
0
2
4
6
8
10
12
14
a. contain balances b. are swept into the TSA on a regular basis
Yes
No
0
1
2
3
4
5
6
a. contain balances b. are swept into the TSA on a regular basis
0
1
2
3
4
5
6
7
8
9
a. contain balances b. are swept into the TSA on a regular basis
S
SEEcountries
Commercial banks pay interest on deposits:
12
6
Yes
No
3
4
9
2
The government pays transaction fees to the banks for services
12
6
Yes
No
3
4
9
2
RTGS and small payments systems in the CB
16
2
Yes No
6
1
10
1
Government has system of commitment recording and control in place
12
6Yes
No
5
2
7
4
The level of coverage of the commitment control system:
0
2
4
6
8
10
12
First level spending units Second level spending units Local governments and EBFs
Yes
No
0
1
2
3
4
5
6
First level spending units
Second level spending units
Local governments and EBFs
0
1
2
3
4
5
6
7
8
First level spending units
Second level spending units
Local governments and EBFs
Unit within the MoF dedicated to developing cash forecasts
17
1
Yes
No
7
0
10
1
Cash forecasts are updated:
4
46
3 Daily
Weekly
Monthly
3
3
1
4
1
3
2
Cash forecasts are produced:
0
2
4
6
8
10
12
♦Monthly ♦Weekly ♦Daily
Yes
No
0
1
2
3
4
5
6
7
♦Monthly ♦Weekly ♦Daily0
1
2
3
4
5
6
7
8
♦Monthly ♦Weekly ♦Daily
Cash forecasts are compared against actual data
16
2
Yes
9
2
7
0
Cash forecasts used as a basis for funding decisions
13
5
Yes
No
5
2
8
3
Treasury/MoF uses financial instruments to manage cash surplus/shorfalls
16
2
Yes
No
7
0
9
2
Instruments used:
0
2
4
6
8
10
12
14
Term deposits in the Central Bank
Term deposits in commercial banks
Issuance of Treasury Bills
Short‐term bank credits
Yes
No
0
1
2
3
4
5
6
7
8
Term deposits in the Central Bank
Term deposits in commercial banks
Issuance of Treasury Bills
Short‐term bank credits
0
1
2
3
4
5
6
7
8
9
10
Term deposits in the Central Bank
Term deposits in commercial banks
Issuance of Treasury Bills
Short‐term bank credits
Government is permitted to borrow from the CB
3
14
YesNo
2
5
1
9
Cash and debt management is carried out by the same unit
5
12
Yes
No
1
6
4
6