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
17 May 2022 03:00 p.m.
Next release
17 June 2022 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Apr 2020 Apr 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022 Apr 2022
Total ($m)
Total 93,642 150,953 159,668 158,565 159,139 159,756 160,219
Nominal bonds ($m)
Total 63,504 117,704 126,345 126,545 127,345 128,345 128,945
Financial corporations 29,708 80,567 76,721 76,346 75,688 76,318 77,171
Non-financial corporations 6 5 1 1 1 1 1
Central government 3,968 2,261 2,617 2,681 2,539 2,441 2,218
Local government 55 55 235 235 235 235 235
Non-profit institutions 1 3 3 3 3 3 3
Households 345 489 632 634 626 601 610
Non-residents 29,418 34,323 46,137 46,646 48,254 48,746 48,707
Unallocated 1 1 0 0 0 0 0
Inflation indexed bonds ($m)
Total 18,400 19,250 19,650 19,650 19,650 19,730 19,730
Financial corporations 1,676 4,080 4,609 4,782 4,839 5,120 5,154
Non-financial corporations 1 1 9 9 9 9 9
Central government 10,274 9,411 8,902 8,855 8,855 8,855 8,854
Local government 1 1 1 1 1 1 1
Non-profit institutions 1 1 1 1 1 1 1
Households 51 67 42 42 42 47 45
Non-residents 6,395 5,688 6,084 5,958 5,902 5,697 5,666
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 7,360 8,562 7,485 6,135 5,435 4,835 4,550
Financial corporations 7,131 6,177 6,145 4,950 4,387 3,854 3,577
Non-financial corporations - - 20 20 19 19 19
Central government 0 812 485 485 485 485 400
Local government 37 - 6 - - - -
Households 11 - - - - - -
Non-residents 182 1,573 829 680 545 478 554
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 218 187 163 160 159 156 154
Other crown debt securities ($m)
Total 4,160 5,250 6,025 6,075 6,550 6,690 6,840
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 81,509 93,812 103,858 102,755 103,329 103,946 104,409
Nominal bonds1 52,371 63,730 73,702 73,902 74,702 75,702 76,302
Inflation indexed bonds1 17,400 16,083 16,483 16,483 16,483 16,563 16,563
Treasury bills1 7,360 8,562 7,485 6,135 5,435 4,835 4,550
Kiwi bonds 218 187 163 160 159 156 154
Other crown 4,160 5,250 6,025 6,075 6,550 6,690 6,840
MEMO ITEM: Non-residents ($m)
Total held by non-residents 36,343 42,110 53,814 54,063 55,541 55,834 55,851
Nominal bonds 29,418 34,323 46,137 46,646 48,254 48,746 48,707
Inflation indexed bonds 6,395 5,688 6,084 5,958 5,902 5,697 5,666
Treasury bills 182 1,573 829 680 545 478 554
Other crown 348 527 764 779 840 914 924
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 44.6 44.9 51.8 52.6 53.8 53.7 53.5
Nominal bonds2 56.2 53.9 62.6 63.1 64.6 64.4 63.8
Inflation indexed bonds2 36.8 35.4 36.9 36.1 35.8 34.4 34.2
Treasury bills2 2.5 18.4 11.1 11.1 10.0 9.9 12.2
Other crown2 8.4 10.0 12.7 12.8 12.8 13.7 13.5
  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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