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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:
Jan 2022 Jan 2023 Sep 2023 Oct 2023 Nov 2023 Dec 2023 Jan 2024
Total ($m)
Total 158,565 172,981 180,032 182,140 184,254 185,071 185,572
Nominal bonds ($m)
Total 126,545 141,659 146,662 148,747 150,332 151,664 152,404
Financial corporations 76,346 75,910 69,538 70,545 70,903 69,910 69,504
Non-financial corporations 1 1 29 30 40 41 45
Central government 2,681 4,340 4,695 5,265 6,178 7,002 7,033
Local government 235 175 140 140 140 140 140
Non-profit institutions 3 6 6 6 6 6 6
Households 634 573 660 661 672 693 698
Non-residents 46,646 60,652 71,591 72,097 72,390 73,869 74,975
Unallocated 0 3 4 4 4 4 4
Inflation indexed bonds ($m)
Total 19,650 20,380 20,770 20,770 20,800 20,583 20,503
Financial corporations 4,782 4,772 5,885 5,868 5,464 4,849 5,016
Non-financial corporations 9 9 9 9 9 9 9
Central government 8,855 9,798 9,879 9,833 10,404 10,539 10,392
Local government 1 1 1 1 1 1 1
Non-profit institutions 1 1 1 1 1 1 1
Households 42 58 62 63 61 61 62
Non-residents 5,958 5,740 4,932 4,994 4,858 5,122 5,022
Unallocated 1 1 0 0 0 0 0
Treasury bills ($m)
Total 6,135 2,910 4,850 4,875 5,375 5,075 4,915
Financial corporations 4,950 1,755 3,047 3,026 3,404 3,443 3,416
Non-financial corporations 20 17 31 30 19 13 7
Central government 485 300 100 - 300 300 300
Local government - - - - - - -
Households - - 22 41 22 16 16
Non-residents 680 838 1,651 1,779 1,630 1,303 1,176
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 160 142 160 158 157 159 160
Other crown debt securities ($m)
Total 6,075 7,890 7,590 7,590 7,590 7,590 7,590
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 102,755 119,401 135,673 138,196 140,760 141,532 142,538
Nominal bonds1 73,902 90,666 105,325 107,825 109,725 110,855 111,855
Inflation indexed bonds1 16,483 17,793 17,883 17,883 17,913 17,943 18,018
Treasury bills1 6,135 2,910 4,714 4,739 5,375 4,985 4,915
Kiwi bonds 160 142 160 158 157 159 160
Other crown 6,075 7,890 7,590 7,590 7,590 7,590 7,590
MEMO ITEM: Non-residents ($m)
Total held by non-residents 54,063 68,157 79,303 79,979 79,956 81,284 82,252
Nominal bonds 46,646 60,652 71,591 72,097 72,390 73,869 74,975
Inflation indexed bonds 5,958 5,740 4,932 4,994 4,858 5,122 5,022
Treasury bills 680 838 1,651 1,779 1,630 1,303 1,176
Other crown 779 928 1,129 1,109 1,078 991 1,080
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 52.6 57.1 58.5 57.9 56.8 57.4 57.7
Nominal bonds2 63.1 66.9 68.0 66.9 66.0 66.6 67.0
Inflation indexed bonds2 36.1 32.3 27.6 27.9 27.1 28.5 27.9
Treasury bills2 11.1 28.8 35.0 37.5 30.3 26.1 23.9
Other crown2 12.8 11.8 14.9 14.6 14.2 13.1 14.2
[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.

Revision to the Registered Banks and Non-resident holdings of the May 2028 bond (GB0528)

16 March 2023

There has been a revision to the holdings of the May 2028 (GB0528) bond for January 2023.

$280 million has been reallocated between Registered Banks and Non-resident holdings. This impacts the following tables and series:

D30

  • Nominal bonds
    • Registered Banks
    • Non-residents

D31

  • May 2028
    • Non residents
    • Non-resident %
  • Memo item: Non-residents repo
 


Revision to the RBNZ Holdings of the April 2023 bond (GB0423)

19 January 2023

There has been a revision to the RBNZ Holdings of the April 2023 (GB0423) bond for October and November 2022 due to a buyback of the bond. $225 million has been reallocated from Non-resident holdings to RBNZ Holdings. This impacts the following tables and series:

D30

  • Nominal bonds
    • Financial Corporations
    • Reserve bank
    • Non-residents
    • Non-residents repo

D31

  • April 2023
    • Total in the Market
    • Non residents
    • Non-resident %
  • Nominal bonds
    • Total in the Market
  • Memo item: Non-residents repo

Revision to the RBNZ Holdings of the April 2023 bond (GB0423)

19 January 2023

There has been a revision to the RBNZ Holdings of the April 2023 (GB0423) bond for October and November 2022 due to a buyback of the bond. $225 million has been reallocated from Non-resident holdings to RBNZ Holdings. This impacts the following tables and series:

D30

  • Nominal bonds
    • Financial Corporations
    • Reserve bank
    • Non-residents
    • Non-residents repo

D31

  • April 2023
    • Total in the Market
    • Non residents
    • Non-resident %
  • Nominal bonds
    • Total in the Market
  • Memo item: Non-residents repo

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 Housing New Zealand Limited (known as Kāinga Ora), universities, museums, and District Health Boards (DHBs).

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.