Australian Government, the Australian Office of Financial Management

 

OPERATIONAL NOTICE

No: 3/2006
5 July 2006

2006-07 AUSTRALIAN DOLLAR INTEREST RATE SWAP PROGRAMME

This notice provides details of the Australian Office of Financial Management’s (AOFM) intended Australian dollar interest rate swap programme for the 2006-07 financial year.

In 2006-07, the AOFM plans to execute between $1 billion and $3 billion of swaps to receive fixed interest rates with maturities of at least 4 years and up to $2 billion of swaps to pay fixed interest rates with maturities of up to 3 years. Execution of these swaps will be dependent upon prevailing market conditions.

The AOFM will execute swaps in 2006-07 using similar procedures to those employed in 2005-06. From 1 January 2007, the AOFM will only execute new swaps with counterparties who have signed a Credit Support Annex with the Commonwealth of Australia (the legal entity for which the AOFM executes swaps).

Further information on the AOFM’s swap activities can be found on the AOFM website.

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