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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:
Apr 2022 Apr 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024
Total ($m)
Total 160,219 164,348 185,071 185,572 190,720 192,802 199,148
Nominal bonds ($m)
Total 128,945 132,757 151,664 152,404 157,639 159,224 165,459
Financial corporations 77,171 66,202 69,910 69,504 70,383 70,812 73,528
Non-financial corporations 1 10 41 45 48 47 49
Central government 2,218 3,903 7,002 7,033 6,958 7,174 7,706
Local government 235 80 140 140 140 140 140
Non-profit institutions 3 6 6 6 6 6 7
Households 610 614 693 698 700 686 673
Non-residents 48,707 61,939 73,869 74,975 79,401 80,356 83,351
Unallocated 0 4 4 4 4 4 4
Inflation indexed bonds ($m)
Total 19,730 20,380 20,583 20,503 20,583 20,583 20,613
Financial corporations 5,154 4,878 4,849 5,016 4,874 5,087 5,293
Non-financial corporations 9 9 9 9 9 9 9
Central government 8,854 9,969 10,539 10,392 10,255 9,621 9,499
Local government 1 1 1 1 1 1 1
Non-profit institutions 1 1 1 1 1 1 1
Households 45 58 61 62 65 64 64
Non-residents 5,666 5,462 5,122 5,022 5,378 5,799 5,745
Unallocated 1 1 0 0 0 0 0
Treasury bills ($m)
Total 4,550 3,170 5,075 4,915 4,745 5,245 5,330
Financial corporations 3,577 2,464 3,443 3,416 3,399 3,715 3,739
Non-financial corporations 19 19 13 7 9 9 7
Central government 400 100 300 300 280 280 280
Local government - - - - - - -
Households - 20 16 16 15 15 15
Non-residents 554 567 1,303 1,176 1,042 1,226 1,289
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 154 151 159 160 163 160 156
Other crown debt securities ($m)
Total 6,840 7,890 7,590 7,590 7,590 7,590 7,590
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 104,409 119,829 141,532 142,538 147,951 150,039 156,250
Nominal bonds1 76,302 90,825 110,855 111,855 117,355 118,946 125,046
Inflation indexed bonds1 16,563 17,793 17,943 18,018 18,098 18,098 18,128
Treasury bills1 4,550 3,170 4,985 4,915 4,745 5,245 5,330
Kiwi bonds 154 151 159 160 163 160 156
Other crown 6,840 7,890 7,590 7,590 7,590 7,590 7,590
MEMO ITEM: Non-residents ($m)
Total held by non-residents 55,851 69,027 81,284 82,252 86,900 88,431 91,395
Nominal bonds 48,707 61,939 73,869 74,975 79,401 80,356 83,351
Inflation indexed bonds 5,666 5,462 5,122 5,022 5,378 5,799 5,745
Treasury bills 554 567 1,303 1,176 1,042 1,226 1,289
Other crown 924 1,059 991 1,080 1,078 1,050 1,010
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 53.5 57.6 57.4 57.7 58.7 58.9 58.5
Nominal bonds2 63.8 68.2 66.6 67.0 67.7 67.6 66.7
Inflation indexed bonds2 34.2 30.7 28.5 27.9 29.7 32.0 31.7
Treasury bills2 12.2 17.9 26.1 23.9 22.0 23.4 24.2
Other crown2 13.5 13.4 13.1 14.2 14.2 13.8 13.3
[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.