ÁKK to add short-term security, pension bond to retail mix

Telco

Hungaryʼs Government Debt Management Agency (ÁKK) plans to expand its product palette with a short-term retail security, as well as a security targeted at Hungarians who want to make savings for retirement, business daily Világgazdaság reported on Tuesday.

"The ÁKK wants to raise the retail government security stock by HUF 800 billion, first of all with the introduction of new products: a short-term, cheap and easy-to-acquire government security and a Pension Savings Government Security (NYEMÁ)," the agencyʼs press department told the paper, according to state news wire MTI.

The draft for the NYEMÁ has already been submitted to the Ministry of Finance, and the security is expected to be launched this year, after some fine-tuning. There will be no transaction costs for purchases of the security made through the State Treasury.

The ÁKK said in its issue plan for 2019, released late last year, that it targets an HUF 800 bln increase in the stock of retail government securities, "which is planned to come mainly from retail securities with maturities of longer than one year."

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