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Insurers, funds increase securities holdings in Q2

The increase in insurance corporations' and pension funds' government securities holdings, observed over the past several years, continued in the second quarter of 2005, the National Bank of Hungary (MNB) reported on Monday. As a result, government securities held by the sector rose to more than one-fourth of the outstanding total. By contrast, non-residents reduced their holdings of government paper. Consequently, their share of the market fell. Similarly, the market share and holdings of households also fell, continuing recent trends.
Measured at market value, Hungarian government debt securities holdings rose by 2.7% to Ft 9,480 billion in Q2.
The market value of households' government securities holdings fell by Ft 13.1 billion in April-June. This was accounted for by sales, as the sector registered a Ft 5.2 billion gain on its existing holdings.
In Q2, non-residents were net sellers of government debt securities to the tune of Ft 44.3 billion, following net purchases over a period of one year. The sector registered a Ft 36.8 billion holding gain.
Financial corporations' existing holdings of government securities increased by Ft 278.8 billion at market value in the review period. Their holdings rose by another Ft 66.1 billion on account of holding gains.