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

Released
16 February 2018 03:00 p.m.
Next release
16 March 2018 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Jan 2016 Jan 2017 Sep 2017 Oct 2017 Nov 2017 Dec 2017 Jan 2018
Total ($m)
Total 78,034 80,454 83,143 83,722 83,871 78,783 78,932
Nominal bonds ($m)
Total 60,031 62,854 62,788 63,288 63,638 58,149 58,499
Financial corporations 14,528 18,849 20,342 19,962 20,343 17,323 17,827
Non-financial corporations 3 16 18 18 18 18 18
Central government 3,704 3,309 3,537 3,716 3,825 3,695 3,554
Local government 11 31 30 45 45 8 13
Non-profit institutions 11 11 9 9 9 5 5
Households 279 310 338 331 335 290 300
Non-residents 41,495 40,327 38,512 39,206 39,061 36,811 36,783
Unallocated 0 1 2 2 2 0 0
Inflation indexed bonds ($m)
Total 14,062 13,750 16,100 16,100 16,200 16,300 16,300
Financial corporations 1,508 1,014 1,208 1,181 1,247 1,285 1,267
Non-financial corporations 1 1 1 1 1 1 1
Central government 6,566 7,218 8,506 8,500 8,515 8,661 8,704
Local government 4 1 1 1 1 1 1
Non-profit institutions 6 2 2 2 2 2 2
Households 60 24 37 37 39 39 39
Non-residents 5,914 5,489 6,346 6,377 6,395 6,310 6,285
Unallocated 3 1 1 1 1 1 1
Treasury bills ($m)
Total 3,700 3,600 4,020 4,100 3,800 4,100 3,900
Financial corporations 3,269 3,327 3,618 3,704 3,601 3,845 3,623
Non-financial corporations 70 - - - - - -
Central government - - - - - - -
Local government - - - - - - -
Households 1 3 3 3 3 3 -
Non-residents 360 270 399 394 197 253 277
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 190 199 184 183 182 183 182
Other crown debt securities ($m)
Total 51 51 51 51 51 51 51
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 73,882 76,861 78,348 78,928 79,078 75,499 75,649
Nominal bonds1 57,111 60,261 59,128 59,628 59,978 55,999 56,349
Inflation indexed bonds1 13,071 13,000 15,200 15,200 15,300 15,400 15,400
Treasury bills1 3,700 3,600 4,020 4,100 3,800 4,100 3,900
MEMO ITEM: Non-residents ($m)
Total held by non-residents 47,768 46,086 45,257 45,977 45,653 43,375 43,345
Nominal bonds 41,495 40,327 38,512 39,206 39,061 36,811 36,783
Inflation indexed bonds 5,914 5,489 6,346 6,377 6,395 6,310 6,285
Treasury bills 360 270 399 394 197 253 277
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 64.7 60.0 57.8 58.3 57.7 57.5 57.3
Nominal bonds2 72.7 66.9 65.1 65.8 65.1 65.7 65.3
Inflation indexed bonds2 45.2 42.2 41.7 42.0 41.8 41.0 40.8
Treasury bills2 9.7 7.5 9.9 9.6 5.2 6.2 7.1
  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.

Coverage, Periodicity, and Timeliness of Data

Coverage

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.

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).

Central government debt securities

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

Nominal bonds, inflation indexed bonds and treasury bills held by non-residents as a percentage of the total available in the secondary market. The total available in the secondary market excludes securities held by RBNZ, EQC and SRESL.

Changes to New Zealand debt securities

Revisions

Today the Reserve Bank published New Zealand debt securities statistics with revisions to some series.

The main change is a decline in non-resident holdings for the month of Dec 17 (table D30). This change is a reporting improvement by a nominee respondent. This revision also affects the “non-resident holdings of individual bonds” time series in table D31, as well as the “holdings of Kauri bonds” in table D35.

16 February 2018

Symbols and conventions for summary table

0 Value rounded to zero
- Zero or 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.