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RBA Glossary definition for AGS

AGS – Australian Government Securities. Include all securities issued by the Australian Government at tenders conducted by the AOFM (and by the Reserve Bank of Australia acting as agent for the Australian Government prior to 23 October 2006). They comprise Treasury bonds, Treasury notes, Treasury indexed bonds and, previously, Treasury adjustable rate bonds. These securities are issued either by tender or syndication.

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The Role of Collateral in Borrowing

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
AGS and semis are both included in the regulatory definition of high-quality liquid assets. ... AGS. i. 0. 0.12. 0.81. 0.22. Foreign (indicator). 0.72. Semis. i.
https://www.rba.gov.au/publications/rdp/2021/2021-01/full.html

Read me

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
Format dataset (2) into a single measure of AGS holdings and a single measure of semis holdings for each bank in dataset (1):. ... Identify ISINs issued by the Australian Government (AGS) and ISINs issued by organisations tied to the Australian state
https://www.rba.gov.au/publications/rdp/2021/2021-01/read-me.html

Appendix B: Additional Regressions and Robustness Tests

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
borrowers' pre-sample AGS holdings ( AGS. b. ), borrowers' pre-sample semis holdings ( Semis. ... d. ). CPRisk. b. , AGS. b. and Semis. b. are standardised to zero mean and unit variance.
https://www.rba.gov.au/publications/rdp/2021/2021-01/appendix-b.html

Institutional Background and Data

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
AGS and semis are both included in the regulatory definition of high-quality liquid assets. ... AGS. i. 0. 0.12. 0.81. 0.22. Foreign (indicator). 0.72. Semis. i.
https://www.rba.gov.au/publications/rdp/2021/2021-01/institutional-background-and-data.html

Non-technical summary for ‘The Role of Collateral in Borrowing’

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
In Australia these are Australian Government Securities (AGS), which are frequently used as collateral in interbank markets. ... We show that this spike in demand meant that lenders became willing to provide cash to borrowers at very low interest rates
https://www.rba.gov.au/publications/rdp/2021/2021-01/non-technical-summary.html

The Repo and Unsecured Markets' Reactions to Stress

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
Louis; RBA. The heavy decline in AGS repo rates likely included special repos. ... borrowers' pre-sample AGS holdings ( AGS. b. ), borrowers' pre-sample semis holdings ( Semis.
https://www.rba.gov.au/publications/rdp/2021/2021-01/the-repo-and-unsecured-markets-reactions-to-stress.html

Introduction

20 Jan 2021 RDP 2021-01
Nicholas Garvin, David W Hughes and José-Luis Peydró
semis) expands, while interest rates against first-best collateral (i.e. Australian Government securities (AGS)) fall noticeably – over 100 basis points in our sample.
https://www.rba.gov.au/publications/rdp/2021/2021-01/introduction.html