Government bond turnover (D9)
This data summarises weekly and monthly government bond secondary market transactions in New Zealand.
|30 Sep 2022||07 Oct 2022||14 Oct 2022||21 Oct 2022||28 Oct 2022||04 Nov 2022||11 Nov 2022||18 Nov 2022||25 Nov 2022|
|Nominal bonds ($m)|
|Inflation indexed bonds ($m)|
Introducing new Government bond
28 November 2022
Today sees the introduction of the newly-issued May 2034 nominal government bond, which settled on 22 November 2022.
The data: coverage, periodicity, and timeliness
Data is in millions of New Zealand dollars. The following data covering all transactions that have occurred within the New Zealand Bond Market are obtained from NZClear:
- Weekly and monthly volume of Non-Repo transactions by bond maturity and bond type.
- Weekly and monthly volume of Repo/All Other transactions by bond maturity and bond type.
- Weekly and monthly volume of total transactions by bond maturity and bond type.
Bond turnover is captured from the NZClear system, with the data recorded on the transaction settlement date. Only one side of each transaction is recorded. In respect of repurchase agreements, one side of each leg of the transaction is, therefore, recorded. Monthly and weekly data is available from January 1996.
From February 2020, splits between Non-Repo transactions and Repo/All other transactions are not available.
Weekly data is published on the first working day after the end of the preceding week. Monthly data is published on the first working day of the week after the end of the preceding month.
Access by the public
Data is released on the Reserve Bank’s Statistics section.
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.
Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses
Although there is no law that requires the RBNZ to compile and publish data on the bond turnover survey, there is an agreement between New Zealand Debt Management Office (NZDMO) and the RBNZ that the RBNZ will produce and publish a weekly Secondary Market Turnover Survey.
Provision of information about revisions and advance notice of major changes in methodology
Procedures are outlined in Section 4 of the Operating rules and guidelines for domestic market operations.
Dissemination of documentation on methodology and sources used in preparing statistics
Daily data covering all transactions are obtained from NZClear.
Dissemination of statistics that support statistical cross-checks and provide assurance of reasonableness
Types of long-term government securities currently on issue are:
- Nominal bonds, which are denominated in New Zealand dollars, issued for terms greater than one year, and have a fixed interest coupon paid semi-annually in arrears.
- Inflation-indexed bonds (IIB), which are denominated in New Zealand dollars with a fixed coupon paid quarterly in arrears. On maturity, the principal and the indexed component of the bonds are redeemable. The index component refers to the incremental CPI adjustment from the date of bond issue to the principal due date.
Security related terminology
The date that final repayment for a security or loan is expected to be made. Maturity data may be presented in slightly different ways depending on the particular form of the security.
The discount is the difference between the present value and the nominal value of a security.
The present value refers to the current market value of a security.
The nominal value of a security represents the amount to be repaid at maturity. The nominal value is recorded on the face of the document recording the entitlement, generally a certificate or bond. It is also referred to as the ‘face value’.
A coupon represents the regular interest payment on a security (such as a bond). Coupon payments are typically annual or semi-annual.
Date first issued
The first date on which stock related to the particular security was first issued.
Repurchases and reverse repurchases
Arrangements under which one party sells a security at a specified price to another party with an agreement that the security will be repurchased at a fixed price on a specified future date. The party that sells the security upon entering the arrangement is said to be ‘repurchasing’ the security. The party that buys the security upon entering the arrangement is said to be ‘reverse repurchasing’ the security.
Total New Zealand government bond turnover
The nominal of value government securities traded in the secondary market over the period specified.
This category captures secondary market trading where a permanent change of ownership has resulted.
This category is intended to capture repurchase agreements, in-house transactions, the take-up of new issue bonds, and any other transactions that are not appropriately categorised as ‘non-repo’.
Symbols and conventions for summary table
|Symbol or convention||Definition|
|0||Zero or value rounded to zero|
|Light grey background||Historical|
- 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.
View other data in the New Zealand debt securities statistics series.