Holdings of central government debt securities (D30)

This data tracks the total debt securities, such as bonds and treasury bills, on issue in New Zealand and which sector is holding those securities.
Released
16 July 2021 03:00 p.m.
Next release
17 August 2021 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Jun 2019 Jun 2020 Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021
Total ($m)
Total 78,822 113,665 145,665 148,523 150,951 140,876 144,688
Nominal bonds ($m)
Total 55,584 78,804 114,254 116,504 117,704 107,595 111,195
Financial corporations 18,798 43,876 75,635 78,069 80,567 73,773 75,475
Non-financial corporations 1 6 5 5 5 1 1
Central government 5,479 3,124 2,046 1,978 2,261 2,138 2,272
Local government 20 55 55 55 55 - -
Non-profit institutions 2 2 3 3 3 2 2
Households 296 402 431 455 489 460 491
Non-residents 30,987 31,338 36,076 35,938 34,323 31,220 32,954
Unallocated 0 1 1 1 1 0 0
Inflation indexed bonds ($m)
Total 18,000 18,400 19,050 19,150 19,250 19,350 19,450
Financial corporations 2,018 2,391 3,951 4,092 4,080 4,169 4,184
Non-financial corporations 1 1 1 1 1 1 1
Central government 10,062 10,274 9,350 9,409 9,411 9,435 9,495
Local government 1 1 1 1 1 1 1
Non-profit institutions 2 1 1 1 1 1 1
Households 38 53 73 73 67 65 59
Non-residents 5,876 5,678 5,672 5,571 5,688 5,677 5,708
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 3,470 11,885 7,550 8,150 8,562 8,412 8,412
Financial corporations 3,088 10,776 5,375 6,175 6,177 6,437 6,455
Non-financial corporations - - - - - - -
Central government 65 859 68 - 812 812 812
Local government 20 66 12 12 - - -
Households 1 14 1 1 - - -
Non-residents 296 170 2,094 1,962 1,573 1,163 1,145
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 168 241 211 194 185 169 181
Other crown debt securities ($m)
Total 1,600 4,335 4,600 4,525 5,250 5,350 5,450
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 75,672 90,605 93,158 93,394 93,810 87,326 89,748
Nominal bonds1 53,434 57,224 64,844 64,542 63,730 57,212 59,422
Inflation indexed bonds1 17,000 16,920 15,953 15,983 16,083 16,183 16,283
Treasury bills1 3,470 11,885 7,550 8,150 8,562 8,412 8,412
Kiwi bonds 168 241 211 194 185 169 181
Other crown 1,600 4,335 4,600 4,525 5,250 5,350 5,450
MEMO ITEM: Non-residents ($m)
Total held by non-residents 37,331 37,481 44,244 43,889 42,110 38,626 40,458
Nominal bonds 30,987 31,338 36,076 35,938 34,323 31,220 32,954
Inflation indexed bonds 5,876 5,678 5,672 5,571 5,688 5,677 5,708
Treasury bills 296 170 2,094 1,962 1,573 1,163 1,145
Other crown 172 294 403 418 527 565 652
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 49.3 41.4 47.5 47.0 44.9 44.2 45.1
Nominal bonds2 58.0 54.8 55.6 55.7 53.9 54.6 55.5
Inflation indexed bonds2 34.6 33.6 35.6 34.9 35.4 35.1 35.1
Treasury bills2 8.5 1.4 27.7 24.1 18.4 13.8 13.6
Other crown2 10.8 6.8 8.8 9.2 10.0 10.6 12.0
  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
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