KONSOLIDACJA RYNKU SKARBOWYCH PAPIERÓW WARTOŚCIOWYCH NA PRZYKŁADZIE KRAJÓW UNII EUROPEJSKIEJ
CONSOLIDATION OF THE TREASURY SECURITIES MARKET IN THE EUROPEAN UNION COUNTRIES

Summary/Abstract: Market treasury securities plays in the modern economy a key role in the operation of public finances of each country. This particular feature of the sourcing repayable funds to cover the shortfall in the budget so that the country had the possibility of stable operation and development. Treasury securities market is subject to different regulations and, in particular, is based on the policy of public debt management. The main objective of this policy is mainly reducing the operating costs which the State has to incur in connection with the incurring of debt in the form of treasury securities. The current policy on the functioning of the treasury securities market was only at the level of the individual, the individual EU Member States. It was connected with the occurrence of various types of risks, such as eg. Operational risk and liquidity risk. Currently at the EU level we can see a number of actions in order to create a common transnational platform for treasury securities trading. Such consolidation measures in keeping with the common policy of the treasury securities market in the EU. Moreover, there are a number of strategies and plans, on this subject. It is worth a good look at current developments in this area and to consider the benefits which each country may experience in connection with the establishment of the common market treasury securities within the EU.

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