ÁKK is also in talks with state-owned postal company Magyar Posta on distributing the papers, Borbély said. The recently launched four- and six-year Bónusz bonds pay a premium over discount T-bill average auction yields. The three- and five-year Premium forint bonds pay a premium over inflation.

The involvement of the banks in the bonds’ distribution is part of a plan to increase retail sales of the government securities and to raise the maturity of papers held by the general population. Net sales of retail government papers totaled HUF 212 billion in January-April, including HUF 41.4 billion of Bónusz and Premium forint bonds. The stock of the two bonds reached HUF 384.3 billion at the end of April.

ÁKK recently raised this year’s target for net sales of retail government securities to HUF 600 billion from HUF 420 billion in an issue plan published in January. The debt manager raised the volume of net forint issues planned for 2014 by HUF 941 billion to HUF 2,126 billion, while increasing net FX repayments by HUF 641 billion to HUF 885 billion.