|Sep 2017||Sep 2018||May 2019||Jun 2019||Jul 2019||Aug 2019||Sep 2019|
|Nominal bonds ($m)|
|Inflation indexed bonds ($m)|
|Treasury bills ($m)|
|Kiwi bonds ($m)|
|Other crown debt securities ($m)|
|MEMO ITEM: Secondary market ($m)|
|Total held in the secondary market1||78,583||79,966||76,180||75,672||76,447||76,949||79,500|
|Inflation indexed bonds1||15,200||16,200||16,900||17,000||17,050||17,100||17,150|
|MEMO ITEM: Non-residents ($m)|
|Total held by non-residents||45,257||43,798||38,391||37,331||38,627||38,759||39,611|
|Inflation indexed bonds||6,346||6,410||5,992||5,876||6,174||6,159||6,147|
|MEMO ITEM: Non-residents (%)|
|Proportion held by non-residents2||57.6||54.8||50.4||49.3||50.5||50.4||49.8|
|Inflation indexed bonds2||41.7||39.6||35.5||34.6||36.2||36.0||35.8|
Nominal amount of central government debt securities on issue in New Zealand at the end of the month.
Central government debt securities covers:
Data is sourced from New Zealand registries (Computershare, Link Market Services, and NZClear), a survey of nominee companies and registered banks.
Data is published monthly approximately three weeks after the end of the reference month.
Data is released on this page, Reuters and Bloomberg at the same time.
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
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.
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).
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 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 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 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 debt securities issued by central government agencies such as universities, museums, and District Health Boards (DHBs).
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 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 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 consists of territorial authorities and regional councils, as well as the other non-market units and non-profit institutions they control.
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 are New Zealand resident individuals, families, whänau, hapü, and marae in their role as final consumers and as owners of production factors.
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 is used where the sector of ownership cannot be identified.
The nominal value of securities represents the amount to be repaid at maturity.
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.
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.
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.
17 September 2019
Today’s publication includes a revision to the total held in the secondary market and the proportion held by non-residents of central government debt securities. The revision incorporates holdings (see figure 1) of other crown debt securities (predominantly that of Housing New Zealand) previously not included. The revision is included from July 2015 and results in a maximum change of -1.2 percent in the proportion held by non-residents.
In addition a more detailed breakdown of sector holdings of other crown debt securities is published in the historical file.
Figure 1: Proportion held by non-residents of central government securities
If you have any questions about these changes, please contact the Statistics team at firstname.lastname@example.org.
|0||Zero or value rounded to zero|
|light red background||Historical|