Money duration

Can someone explain what is money duration and why does BPV require to closely match with liability BPV?

Money duration is (the negative of ) how much the total value of your portfolio will change given a 1% change in yields across all maturities.

You match BPVs so that your surplus (or deficit) doesn’t change when interest rates change.

Thank you , can you please tell why is it expressed in BPV term ? and how to define BPV?

The glossary in the curriculum gives a good definition of BPV; take a look there. (In short: I’m not going to do the work for you.)

You’re trying to match the change in the (present) value of your assets when interest rates change to the change in the (present) value of your liabilities for that same change in interest rates. Can you think of a better way to express that than BPV?

Crystal clear ! Thank you for the efforts , i really appreciate it !

You’re quite welcome.