Ideally, a more far-sighted decision making process would be desirable. Likewise, most of the steps needed to address the risks associated with the financial cycle would require a dialogue with, and often the approval of, authorities with different perspectives. Changing provisioning practices, for instance, can raise eyebrows with tax authorities, the accounting profession and even securities regulators.
Secondary market liquidity is supported by building up issue sizes through reissuances. The consequent rollover risk is managed through active consolidation using buyback/switches. 11. Transparency in supply was enhanced through the introduction of issuance calendars for auctions in G-secs since April, 2002. Auctions are conducted electronically, which ensure transparency as well as efficiency.