Statement of Corporate Intent

TCV is the central financing authority and financial adviser for the State of Victoria.

Our Vision
To be Australia's leading central financing authority. We work to achieve this vision by protecting the financial interests of our clients and the State of Victoria.

Our Mission
TCV’s mission is to deliver innovative financing solutions to the State. Our culture motivates our people to act with integrity and professionalism in achieving the best results for the State and our clients.

Our Values
At TCV we value the following key skills and knowledge:

  • commercial acumen
  • clear communication
  • effective relationship management
  • management effectiveness
  • proactivity
  • problem solving
  • empathy
  • strong technical skills.

Treasury Corporation of Victoria (TCV or the Corporation) also promotes the public sector values contained in Part 2 of the Public Administration Act 2004. These values include responsiveness, integrity, impartiality, accountability, respect, leadership and the promotion of human rights.

Our People
TCV understands that our employees are central to the success of our business. Our management of our employees reflects our commitment to their long-term development. We also recognise the importance of helping our people to lead a healthy and balanced life.

We expect our people to aspire to TCV’s key skills and knowledge, and to embody our values as both participants in financial markets and employees in the public sector.

Our Stakeholder
The Treasurer of the State of Victoria is our stakeholder. The Department of Treasury and Finance (DTF) monitor the Treasurer's interests. TCV's Chair reports directly to the Treasurer, on behalf of our Board of Directors.

Our Clients
TCV provides treasury services to those state and public authorities that have been accepted as participating authorities by the Corporation under the Treasury Corporation of Victoria Act 1992 (the TCV Act). We also provide these services to other Victorian entities at the request of the Treasurer.

The services we provide include:

  • debt portfolio management
  • cash management and deposit products
  • interest rate, foreign exchange and commodity risk management
  • economic services
  • financing policies and strategies
  • a dedicated financing service
  • general treasury and financing advice
  • analytical services
  • banking arrangements.

Our Objectives
TCV has the following objectives:

  • to act as a financial institution for the benefit of the State and participating authorities
  • to enhance the financial position of the State, the Corporation and participating authorities
  • to provide our services in an effective, efficient and competitive manner.

Our Guarantee
TCV payment obligations relating to borrowings and derivative transactions are guaranteed by the State of Victoria (section 32 of the TCV Act). Our loans to participating authorities are themselves guaranteed by the State of Victoria.

Our Business Operations
TCV's business operations assist the State in the prudent management of Victoria’s financing risks. We centralise financing and financing advisory activities by:

  • providing debt markets with a single interface
  • maintaining and enhancing the State’s profile and reputation in financial markets
  • assuming and managing financing risk on behalf of the State and its authorities
  • using expert skills and knowledge to manage financing risks
  • providing proactive and reactive financing advice to the State and its authorities
  • adopting prudent risk-management policies and processes covering interest-rate, refinancing, credit, liquidity, foreign-currency and operational risks.

TCV Borrowing Programs
Our borrowing programs provide financing liquidity for the State and its authorities through:

  • a breadth of borrowing programs that facilitate access to long- and short-term funding in domestic and international debt capital markets
  • a focus on a diversified investor base
  • an active management philosophy that ensures we can provide sufficient funding at acceptable pricing under all market conditions
  • a key corporate objective to raise funds at a cost consistent with, or better than, other comparable AAA/Aaa-rated Australian State financing authorities
  • a liquidity framework that ensures the spread of refinancing risks over time.