Our Vision

To be a respected central financing authority and adviser, optimising benefits for and protecting the interests of the State of Victoria and our clients.

Our Mission

We are united in our commitment to deliver innovative financing solutions to the State. Our culture motivates our people to act with integrity and professionalism to achieve the best results for the State and our clients.

Our Values

We value the following key skills and knowledge:

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

In addition, Treasury Corporation of Victoria (TCV or the Corporation) promotes the public sector values contained in Part 2 of the Public Administration Act 2004, which 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 staff to lead a healthy and balanced life.

In return, we expect our people to aspire to TCV’s key skills and knowledge, and to demonstrate the values and behaviours required of participants in financial markets and employees in the public sector, as set out in the relevant Codes of Conduct.

Our Stakeholder

The Treasurer of the State of Victoria is our stakeholder. His interests are monitored by the Department of Treasury and Finance (DTF). Our Chairman, on behalf of the Board of Directors, reports directly to the Treasurer.

Our Clients

We provide 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) and, at the request of the Treasurer, to other Victorian entities.

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

Established by the TCV Act, TCV is the central financing authority and financial adviser for the State of Victoria.

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

Our payment obligations in relation 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

Our business operations assist the State in the prudent management of Victoria’s financing risks by centralising financing and financing advisory activities through the:

  • provision of a single interface to the debt markets
  • maintenance and enhancement of the State’s profile and reputation in financial markets
  • assumption and management of financing risk that would otherwise reside with the State or its authorities
  • retention of expert skills and knowledge to manage these financing risks
  • provision of financing advice in anticipation of, and in response to the requirements of the State and its authorities in all their financing arrangements
  • adoption of prudent risk-management policies and processes in relation to interest-rate, refinancing, credit, liquidity, foreign-currency and operational risks.
Our Borrowing Programs

Our borrowing programs provide financing liquidity for the State and its authorities as a result of:

  • 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 refinancing risks are spread over time.