Funkcje skarbowych papierów wartościowych

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The article discusses the functions of Treasury Securities in the period of system transformation in Poland. These include five functions, noticeable in the most highly developed countries, namely: regulation of the running liquidity of state budget, finansing government borrowing needs, operations on the open market, managing the liquidity of Treasury Securities buyers, depository function. The author indicates that apart from these functions, Treasury Securities fulfil also the functions resulting from the specific nature of system transformation period. These include: discharge of the existing liabilities of The Treasury, functioning as an instrument of state intervention.(original abstract)
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