The Governor of the Bank of Mongolia, N. Bayartsaikhan, stated that BoM will gradually eliminate issuing financial securities and will adopt a more traditional system to be able to purchase in the secondary market of government securities.
One of the financial instruments used in monetary policy is the ability to conduct open market operations. BoM has been issuing securities for up to one-year as a means of managing commercial banks’ excess of reserves as well as the interbank market’s short-term interest rate.
The Governor of the Bank of Mongolia, N. Bayartsaikhan, stated that BoM will gradually eliminate issuing financial securities and will adopt a more traditional system to be able to purchase in the secondary market of government securities.
One of the financial instruments used in monetary policy is the ability to conduct open market operations. BoM has been issuing securities for up to one-year as a means of managing commercial banks’ excess of reserves as well as the interbank market’s short-term interest rate.