Retail govʼt securities sales in Jan-Sept double full-year target

Telco

Net sales of forint-denominated government securities targeted at retail investors came to HUF 154.8 billion in September, after reaching just HUF 350 million in August, shows a monthly report released by the Government Debt Management Agency (ÁKK) on Monday and cited by state news wire MTI.  

Premium Hungarian Government Securities (PMÁPs) - formerly known as Premium Hungarian Government Bonds (PMÁKs) - were the most popular with investors in September, with net sales of HUF 120.9 bln. 

Net sales of One-Year Hungarian Government Securities (1MÁPs) totaled HUF 26.3 bln, while sales of Two-Year Hungarian Government Securities (2MÁPs) came to HUF 14.1 bln.   

There were net redemptions of HUF 600 mln of Bonus Hungarian Government Securities (BMÁPs), while net sales of so-called Baby Bonds came to HUF 600 mln.   

Net sales of Treasury Savings Bills (KTJs) reached HUF 2.2 bln, while there were net redemptions of HUF 8.7 bln of Half-Year Government Securities (FMÁPs).   

January-September

Net sales of forint-denominated government securities totaled HUF 1,445.8 bln in January-September, bringing the total stock to HUF 6,513.6 bln at the end of the period.  The ÁKK noted that net sales in the first nine months were double the full-year target and the excess issues financed maturing FX debt.

Retail securities made up one-quarter of government debt at the end of the period, and the share of FX debt fell to 23%, from 45% in 2010.

In January-September, the stock of PMÁPs climbed HUF 738.6 bln to HUF 1,781.6 bln.  The stock of 1MÁPs jumped HUF 486.2 bln to HUF 3,122.8 bln during the period, while the stock of 2MÁPs, which were only recently introduced, reached HUF 317.4 bln.

The stock of BMÁPs edged up just HUF 1.4 bln to HUF 479.6 bln, while the Baby Bond stock increased HUF 6.9 bln to HUF 34.3 bln.

The KTJ stock rose HUF 5.5 bln to HUF 459.2 bln, while the FMÁP stock dropped HUF 110.3 bln to HUF 318.6 bln.

The stock of Premium Euro Hungarian Government Securities (P€MÁPs), formerly known as Premium Euro Hungarian Government Bonds (PEMÁKs), slipped EUR 30 mln to EUR 400 mln.

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