Holdings of central government debt securities (nominal value) - D30

Released
18 January 2019 03:00 p.m.
Next release
19 February 2019 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Dec 2016 Dec 2017 Aug 2018 Sep 2018 Oct 2018 Nov 2018 Dec 2018
Total ($m)
Total 81,009 78,783 83,211 83,736 84,737 85,536 86,584
Nominal bonds ($m)
Total 63,004 58,149 61,231 61,881 62,581 63,131 63,631
Financial corporations 18,483 17,323 19,088 20,095 20,866 22,356 23,631
Non-financial corporations 16 18 9 9 9 9 9
Central government 3,231 3,695 4,533 4,602 4,640 4,698 4,949
Local government 26 8 52 38 38 38 20
Non-profit institutions 11 5 3 3 3 3 3
Households 309 290 284 283 294 304 307
Non-residents 40,927 36,811 37,262 36,852 36,731 35,723 34,712
Unallocated 1 0 0 0 0 0 0
Inflation indexed bonds ($m)
Total 13,750 16,300 17,100 17,200 17,300 17,400 17,500
Financial corporations 1,005 1,285 1,499 1,548 1,679 1,640 1,696
Non-financial corporations 1 1 1 1 1 1 1
Central government 7,232 8,661 9,189 9,203 9,193 9,248 9,377
Local government 1 1 1 1 1 1 1
Non-profit institutions 2 2 2 2 2 2 2
Households 24 39 34 34 34 34 35
Non-residents 5,484 6,310 6,374 6,410 6,389 6,474 6,388
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 4,000 4,100 3,900 3,700 3,625 3,825 4,275
Financial corporations 3,652 3,845 3,161 3,125 3,060 3,276 3,679
Non-financial corporations - - - - - - -
Central government 92 - 70 95 95 55 107
Local government - - - - - - -
Households 3 3 - - 1 1 1
Non-residents 254 253 669 480 469 493 488
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 204 183 180 180 181 180 178
Other crown debt securities ($m)
Total 51 51 800 775 1,050 1,000 1,000
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 77,411 75,499 78,931 79,011 79,161 78,943 79,501
Nominal bonds1 60,411 55,999 58,931 59,111 59,236 58,718 58,726
Inflation indexed bonds1 13,000 15,400 16,100 16,200 16,300 16,400 16,500
Treasury bills1 4,000 4,100 3,900 3,700 3,625 3,825 4,275
MEMO ITEM: Non-residents ($m)
Total held by non-residents 46,666 43,375 44,379 43,798 43,676 42,784 41,663
Nominal bonds 40,927 36,811 37,262 36,852 36,731 35,723 34,712
Inflation indexed bonds 5,484 6,310 6,374 6,410 6,389 6,474 6,388
Treasury bills 254 253 669 480 469 493 488
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 60.3 57.5 56.1 55.4 55.1 54.1 52.3
Nominal bonds2 67.7 65.7 63.2 62.3 62.0 60.8 59.1
Inflation indexed bonds2 42.2 41.0 39.6 39.6 39.2 39.5 38.7
Treasury bills2 6.3 6.2 17.2 13.0 12.9 12.9 11.4
  1. Government securities available in the secondary market do not include those held by the Reserve Bank and the Earthquake Commission.
  2. Non-resident holdings as a percentage of the government securities available in the secondary market.

The data: coverage, periodicity, and timeliness

Coverage characteristics

Nominal amount of central government debt securities on issue in New Zealand at the end of the month.

Central government debt securities covers:

  • Nominal bonds
  • Inflation index bonds
  • Treasury bills
  • Kiwi bonds
  • Other crown debt securities

Data is sourced from New Zealand registries (Computershare, Link Market Services, and NZClear), a survey of nominee companies and registered banks.

Periodicity and timeliness

Data is published monthly approximately three weeks after the end of the reference month.

Access by the public

Data release

Data is released on this page, Reuters and Bloomberg at the same time.

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

View the Statistics Release Calendar

Quality

Changes in methodology

From August 2016 data has been sourced from a securities database developed by the Reserve Bank. Data has been backdated to July 2015 but may differ from previously published data due to improvements in the classification of entities to the resident or non-resident sector.

Data quality

The total amount of government securities on issue matches the data published by the NZDMO. In instances where the Reserve Bank repurchases government securities on behalf of the NZDMO, the data will not reconcile with that of NZDMO.

Data for this is published in the Open market operations table (D3).

Individual government bonds

Nominal bonds

Nominal bonds are wholesale fixed-term debt securities the Crown issues to and repurchases from registered tender counterparties. Nominal bonds have an initial maturity of one year or more.

Inflation indexed bonds

Inflation-indexed bonds are wholesale fixed-term debt securities with an inflation-indexed component. Inflation-indexed bonds are issued to registered tender counterparties and have an initial maturity of one year or more.

Treasury bills

Treasury bills are wholesale fixed-term debt securities issued by the Crown to registered tender counterparties. Bills are issued with 3 month, 6 month and 1 year maturities.

Kiwi bonds

Kiwi bonds are the main product available to individual investors. Kiwi Bonds are offered directly to the New Zealand public. Anyone resident outside New Zealand, even if they hold New Zealand citizenship, is ineligible to invest in Kiwi bonds.

Other crown debt securities

Other debt securities issued by central government agencies such as universities, museums, and District Health Boards (DHBs).

Holdings of central government debt securities

Financial corporations

Financial corporations consist of all units that provide mainly financial services, including financial intermediation, financial risk management, liquidity transformation, and various supporting activities. This sector includes securities held by the Reserve Bank of New Zealand (RBNZ) and registered banks in New Zealand.

Non-financial corporations

Non-financial corporations consist of resident business enterprises that produce goods and non-financial services to sell at competitive market prices that are sufficient to generate a profit or surplus in the long term.

Central government

Central government is responsible for functions such as taxation, law and order, defence, and those responsible for advancing the economic and social well-being of the country in other ways. It also includes funded social insurance schemes that are financed independently of government general revenue, through levies on households, employers, or the self-employed. This sector includes securities held by the Accident Compensation Corporation (ACC), Earthquake Commission (EQC), New Zealand Superannuation Fund (NZSF), and Southern Response Earthquake Services Limited (SRESL).

Local government

Local government consists of territorial authorities and regional councils, as well as the other non-market units and non-profit institutions they control.

Non-profit institutions

Non-profit institutions (serving households) consist of resident non-market institutional units that deliver goods or services to fulfil a social need or community interest.

Households

Households are New Zealand resident individuals, families, whänau, hapü, and marae in their role as final consumers and as owners of production factors.

Non-residents

The rest of the world consists of all non-resident institutional units that enter into transactions with resident units, or have other economic links with resident units.

Unallocated

Unallocated is used where the sector of ownership cannot be identified.

Other

Nominal value

The nominal value of securities represents the amount to be repaid at maturity.

Repurchase agreements

Repurchase agreements (repos) are an arrangement involving the provision of securities in exchange for cash with a commitment to repurchase the same or similar securities at a fixed price on a specified future date.

Bonds available in the secondary market

The nominal bonds, inflation indexed bonds and treasury bills that are available for trading in the secondary market. This excludes securities held by RBNZ, EQC and SRESL who do not hold them for trading purposes.

Proportion held by non-residents

Bonds held by non-residents as a percentage of the total available in the secondary market. The total available in the secondary market excludes bonds held by RBNZ, EQC and SRESL.

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.