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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.

Previous years: Monthly:
Jun 2020 Jun 2021 Feb 2022 Mar 2022 Apr 2022 May 2022 Jun 2022
Total ($m)
Total 113,665 144,687 159,139 159,756 160,219 161,712 162,327
Nominal bonds ($m)
Total 78,804 111,195 127,345 128,345 128,945 129,945 130,745
Financial corporations 43,876 75,475 75,688 76,318 77,171 77,461 77,346
Non-financial corporations 6 1 1 1 1 1 1
Central government 3,124 2,272 2,539 2,441 2,218 2,538 2,885
Local government 55 - 235 235 235 235 235
Non-profit institutions 2 2 3 3 3 3 3
Households 402 491 626 601 610 621 590
Non-residents 31,338 32,954 48,254 48,746 48,707 49,086 49,685
Unallocated 1 0 0 0 0 0 0
Inflation indexed bonds ($m)
Total 18,400 19,450 19,650 19,730 19,730 19,780 19,810
Financial corporations 2,391 4,184 4,839 5,120 5,154 5,074 5,476
Non-financial corporations 1 1 9 9 9 9 9
Central government 10,274 9,495 8,855 8,855 8,854 9,004 8,662
Local government 1 1 1 1 1 1 1
Non-profit institutions 1 1 1 1 1 1 1
Households 53 59 42 47 45 39 40
Non-residents 5,678 5,708 5,902 5,697 5,666 5,651 5,620
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 11,885 8,412 5,435 4,835 4,550 4,200 3,910
Financial corporations 10,776 6,455 4,387 3,854 3,577 3,038 2,766
Non-financial corporations - - 19 19 19 19 21
Central government 859 812 485 485 400 400 400
Local government 66 - - - - - -
Households 14 - - - - - -
Non-residents 170 1,145 545 478 554 743 723
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 241 180 159 156 154 152 152
Other crown debt securities ($m)
Total 4,335 5,450 6,550 6,690 6,840 7,635 7,710
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 90,605 89,747 103,329 103,946 104,409 105,902 106,517
Nominal bonds1 57,224 59,422 74,702 75,702 76,302 77,302 78,102
Inflation indexed bonds1 16,920 16,283 16,483 16,563 16,563 16,613 16,643
Treasury bills1 11,885 8,412 5,435 4,835 4,550 4,200 3,910
Kiwi bonds 241 180 159 156 154 152 152
Other crown 4,335 5,450 6,550 6,690 6,840 7,635 7,710
MEMO ITEM: Non-residents ($m)
Total held by non-residents 37,481 40,458 55,541 55,834 55,851 56,513 57,155
Nominal bonds 31,338 32,954 48,254 48,746 48,707 49,086 49,685
Inflation indexed bonds 5,678 5,708 5,902 5,697 5,666 5,651 5,620
Treasury bills 170 1,145 545 478 554 743 723
Other crown 294 652 840 914 924 1,032 1,127
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 41.4 45.1 53.8 53.7 53.5 53.4 53.7
Nominal bonds2 54.8 55.5 64.6 64.4 63.8 63.5 63.6
Inflation indexed bonds2 33.6 35.1 35.8 34.4 34.2 34.0 33.8
Treasury bills2 1.4 13.6 10.0 9.9 12.2 17.7 18.5
Other crown2 6.8 12.0 12.8 13.7 13.5 13.5 14.6
[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

We publish data approximately three weeks after the end of the reference month.

Access by the public

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release it on the first working day of the month.

View the statistics release calendar

Quality

Changes in methodology

From August 2016, we have sourced data from a securities database we developed. We have backdated data to July 2015, but this 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 the NZDMO publishes. In instances where we repurchase government securities on behalf of the NZDMO, the data will not reconcile with that of NZDMO.

We publish this data 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 three-month, six-month and one-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 us 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 wellbeing 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 us, 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 us, EQC and SRESL.

Symbols and conventions for summary table

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey 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.