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Net sales of retail govʼt securities reach HUF 166.6 bln in December

Telco

Net sales of forint-denominated government securities targeted at retail investors came to HUF 166.6 billion in December 2016, bringing the total stock to HUF 5.0678 trillion at the end of the year, the Government Debt Management Agency (ÁKK) said on Friday.

Net sales of interest-bearing Treasury bills, one-year papers designed for the general public, added up to HUF 96.1 bln in December. Retail investors also bought HUF 58 bln of Premium Hungarian Government Bonds (PMÁK) and HUF 9.2 bln of Treasury savings bills.

No six-month T-bills were sold, and sales of Bonus Hungarian Government Bonds (BMÁK) and "baby bonds" came to just HUF 1.4 bln and HUF 1.9 bln, respectively.

At the end of December, the interest-bearing T-bill stock reached HUF 2.6367 tln. The PMÁK stock was HUF 1.043 tln, while the stock of Treasury savings bills reached HUF 453.6 bln.

The stock of six-month T-bills was unchanged at HUF 428.9 bln, while BMÁK stock reached HUF 478.2 bln at the end of last month. The baby bond stock came to HUF 27.4 bln. 

The retail forint-denominated government securities stock was up HUF 1.5505 tln in 2016, the ÁKK said. The majority of the increase came from a rise in the interest-bearing T-bill stock, which was up HUF 820.7 bln for the year.

The ÁKK noted that the stock of government securities held by retail investors has been continuously growing for six years, with especially high numbers seen in the last two years. 

The stock of Premium Euro Hungarian Government Bonds (PEMÁK) stood at EUR 0.43 bln at the end of December. The PEMÁK stock was down EUR 1.37 bln in 2016.

The ÁKKʼs issue plan for last year, released in December 2015, targeted net issues of retail securities of HUF 1.008 tln, including net forint issues of HUF 1,979 bln and net FX redemptions of HUF 971 bln.

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