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
18 October 2021 03:00 p.m.
Next release
16 November 2021 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Sep 2019 Sep 2020 May 2021 Jun 2021 Jul 2021 Aug 2021 Sep 2021
Total ($m)
Total 82,800 131,970 140,890 144,687 146,913 149,507 154,404
Nominal bonds ($m)
Total 59,434 97,604 107,595 111,195 113,195 115,695 120,345
Financial corporations 19,901 61,036 73,773 75,475 75,689 76,749 78,054
Non-financial corporations 1 6 1 1 1 1 1
Central government 5,986 2,718 2,138 2,272 2,016 1,888 2,030
Local government 30 55 - - - - 20
Non-profit institutions 2 2 2 2 2 2 2
Households 314 420 460 491 485 493 523
Non-residents 33,199 33,366 31,220 32,954 35,002 36,562 39,714
Unallocated 0 1 0 0 0 0 0
Inflation indexed bonds ($m)
Total 18,150 18,650 19,350 19,450 19,550 19,650 19,650
Financial corporations 1,800 3,288 4,169 4,184 4,217 4,231 4,172
Non-financial corporations 1 1 1 1 9 9 9
Central government 10,147 10,077 9,435 9,495 9,452 9,467 9,459
Local government 1 1 1 1 1 1 1
Non-profit institutions 2 1 1 1 1 1 1
Households 51 68 65 59 53 55 54
Non-residents 6,147 5,213 5,677 5,708 5,816 5,885 5,952
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 2,570 10,825 8,412 8,412 8,440 8,340 8,490
Financial corporations 2,382 10,096 6,437 6,455 6,650 5,978 6,180
Non-financial corporations - - - - 2 2 12
Central government - 534 812 812 740 740 740
Local government 50 49 - - 6 6 6
Households - 1 - - - - -
Non-residents 139 145 1,163 1,145 1,042 1,614 1,552
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 171 241 183 180 178 172 169
Other crown debt securities ($m)
Total 2,475 4,650 5,350 5,450 5,550 5,650 5,750
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 79,500 93,757 87,340 89,747 91,253 93,847 98,594
Nominal bonds1 57,134 61,884 57,212 59,422 60,702 63,202 67,702
Inflation indexed bonds1 17,150 16,157 16,183 16,283 16,383 16,483 16,483
Treasury bills1 2,570 10,825 8,412 8,412 8,440 8,340 8,490
Kiwi bonds 171 241 183 180 178 172 169
Other crown 2,475 4,650 5,350 5,450 5,550 5,650 5,750
MEMO ITEM: Non-residents ($m)
Total held by non-residents 39,611 39,131 38,626 40,458 42,539 44,767 47,913
Nominal bonds 33,199 33,366 31,220 32,954 35,002 36,562 39,714
Inflation indexed bonds 6,147 5,213 5,677 5,708 5,816 5,885 5,952
Treasury bills 139 145 1,163 1,145 1,042 1,614 1,552
Other crown 126 408 565 652 679 706 695
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 49.8 41.7 44.2 45.1 46.6 47.7 48.6
Nominal bonds2 58.1 53.9 54.6 55.5 57.7 57.9 58.7
Inflation indexed bonds2 35.8 32.3 35.1 35.1 35.5 35.7 36.1
Treasury bills2 5.4 1.3 13.8 13.6 12.3 19.3 18.3
Other crown2 5.1 8.8 10.6 12.0 12.2 12.5 12.1
  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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