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

Released
16 April 2019 03:00 p.m.
Next release
16 May 2019 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Mar 2017 Mar 2018 Nov 2018 Dec 2018 Jan 2019 Feb 2019 Mar 2019
Total ($m)
Total 82,049 81,657 85,536 86,584 87,208 88,057 79,394
Nominal bonds ($m)
Total 62,554 60,749 63,131 63,631 64,081 64,731 55,744
Financial corporations 19,299 19,563 22,356 23,631 24,696 24,415 17,414
Non-financial corporations 19 18 9 9 9 9 1
Central government 3,298 3,640 4,698 4,949 5,014 5,109 5,292
Local government 31 38 38 20 20 20 40
Non-profit institutions 11 5 3 3 3 3 2
Households 305 271 304 307 310 316 289
Non-residents 39,590 37,214 35,723 34,712 34,029 34,859 32,706
Unallocated 1 0 0 0 0 0 0
Inflation indexed bonds ($m)
Total 15,500 16,600 17,400 17,500 17,500 17,600 17,700
Financial corporations 1,273 1,418 1,640 1,696 1,678 1,727 1,679
Non-financial corporations 1 1 1 1 1 1 1
Central government 7,935 8,673 9,248 9,377 9,401 9,493 9,604
Local government 1 1 1 1 1 1 1
Non-profit institutions 2 2 2 2 2 2 2
Households 34 26 34 35 36 36 39
Non-residents 6,253 6,478 6,474 6,388 6,380 6,339 6,374
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 3,750 4,000 3,825 4,275 4,450 4,550 4,750
Financial corporations 3,396 3,580 3,276 3,679 3,954 4,001 4,035
Non-financial corporations - - - - - - -
Central government - - 55 107 122 144 144
Local government - - - - - - 30
Households 3 - 1 1 1 1 1
Non-residents 351 420 493 488 373 404 540
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 194 182 180 178 177 176 175
Other crown debt securities ($m)
Total 51 126 1,000 1,000 1,000 1,000 1,025
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 78,311 78,049 78,943 79,501 79,076 79,166 75,044
Nominal bonds1 59,961 58,449 58,718 58,726 58,126 58,016 53,594
Inflation indexed bonds1 14,600 15,600 16,400 16,500 16,500 16,600 16,700
Treasury bills1 3,750 4,000 3,825 4,275 4,450 4,550 4,750
MEMO ITEM: Non-residents ($m)
Total held by non-residents 46,195 44,113 42,784 41,663 40,857 41,700 39,710
Nominal bonds 39,590 37,214 35,723 34,712 34,029 34,859 32,706
Inflation indexed bonds 6,253 6,478 6,474 6,388 6,380 6,339 6,374
Treasury bills 351 420 493 488 373 404 540
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 59.0 56.5 54.1 52.3 51.6 52.6 52.8
Nominal bonds2 66.0 63.7 60.8 59.1 58.5 60.1 61.0
Inflation indexed bonds2 42.8 41.5 39.5 38.7 38.7 38.2 38.2
Treasury bills2 9.4 10.5 12.9 11.4 8.4 8.9 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.