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Funding ProgrammeTCorp’s Funding Role TCorp’s Funding RoleTCorp finances NSW public authorities and the Government’s Budget within strict limits which are approved by the Treasurer and the Governor of New South Wales under provisions laid down in the Public Authorities (Financial Arrangements) Act, 1987. The borrowing requirements for the Government Budget and public authorities are finalised at Budget time for the upcoming financial year. Borrowing RequirementsIn any one year TCorp’s borrowing requirement can be made up of two main components. The first component is the borrowing requirement to refinance maturing TCorp bonds on issue. Secondly, TCorp has a new borrowing component that represents the net new funding requirements of the State Government and our other public sector clients. Please see below for the current requirement. TCorp's Market ActivitiesIn accordance with managing its balance sheet of financial assets and liabilities, TCorp is active in the markets for its own securities, transacting daily through its dealer group. Three factors determine this activity:
As a result of this regular activity, gross issuance is a far less meaningful measure than the net funding requirement. Current and Forecast Funding RequirementsTCorp’s current and forecast funding requirements are as follows:
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