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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:
Oct 2020 Oct 2021 Jun 2022 Jul 2022 Aug 2022 Sep 2022 Oct 2022
Total ($m)
Total 133,355 156,047 162,327 163,416 165,544 166,927 167,981
Nominal bonds ($m)
Total 100,004 122,345 130,745 131,730 132,915 134,300 135,485
Financial corporations 65,168 76,794 77,346 76,916 77,181 78,164 77,187
Non-financial corporations 6 1 1 1 1 1 1
Central government 2,523 2,380 2,885 3,188 3,386 3,543 3,905
Local government 55 155 235 235 235 235 235
Non-profit institutions 2 2 3 3 3 3 3
Households 428 542 590 571 583 570 492
Non-residents 31,821 42,471 49,685 50,817 51,527 51,784 53,662
Unallocated 1 0 0 0 0 0 0
Inflation indexed bonds ($m)
Total 18,750 19,650 19,810 19,840 20,900 20,900 20,900
Financial corporations 3,609 4,376 5,476 5,282 5,394 5,469 5,432
Non-financial corporations 1 9 9 9 9 9 9
Central government 9,690 9,315 8,662 8,925 9,275 9,189 9,474
Local government 1 1 1 1 1 1 1
Non-profit institutions 1 1 1 1 1 1 1
Households 67 53 40 40 50 55 56
Non-residents 5,379 5,893 5,620 5,582 6,169 6,174 5,926
Unallocated 1 1 1 1 1 1 1
Treasury bills ($m)
Total 9,725 8,035 3,910 3,910 3,690 3,590 3,410
Financial corporations 9,154 6,399 2,766 2,927 2,739 2,558 2,341
Non-financial corporations - 23 21 21 12 16 17
Central government 465 485 400 400 400 400 300
Local government 21 6 - - - - -
Households 1 - - - - - -
Non-residents 84 1,123 723 562 539 616 752
Unallocated 0 0 0 0 0 0 0
Kiwi bonds ($m)
Total 226 167 152 151 149 147 146
Other crown debt securities ($m)
Total 4,650 5,850 7,710 7,785 7,890 7,990 8,040
MEMO ITEM: Secondary market ($m)
Total held in the secondary market1 90,898 100,214 106,517 108,021 110,564 112,162 113,631
Nominal bonds1 60,284 69,679 78,102 79,502 81,102 82,702 84,302
Inflation indexed bonds1 16,013 16,483 16,643 16,673 17,733 17,733 17,733
Treasury bills1 9,725 8,035 3,910 3,910 3,690 3,590 3,410
Kiwi bonds 226 167 152 151 149 147 146
Other crown 4,650 5,850 7,710 7,785 7,890 7,990 8,040
MEMO ITEM: Non-residents ($m)
Total held by non-residents 37,669 50,178 57,155 58,056 59,312 59,691 61,404
Nominal bonds 31,821 42,471 49,685 50,817 51,527 51,784 53,662
Inflation indexed bonds 5,379 5,893 5,620 5,582 6,169 6,174 5,926
Treasury bills 84 1,123 723 562 539 616 752
Other crown 385 692 1,127 1,095 1,077 1,117 1,065
MEMO ITEM: Non-residents (%)
Proportion held by non-residents2 41.4 50.1 53.7 53.7 53.6 53.2 54.0
Nominal bonds2 52.8 61.0 63.6 63.9 63.5 62.6 63.7
Inflation indexed bonds2 33.6 35.8 33.8 33.5 34.8 34.8 33.4
Treasury bills2 0.9 14.0 18.5 14.4 14.6 17.2 22.1
Other crown2 8.3 11.8 14.6 14.1 13.6 14.0 13.2
[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.

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.