Structure of investors

    Structure of investors

    The holdings of local currency Treasury bonds by non-residents increased by PLN 2.7 billion in December. At the end of the month the value of their marketable bonds portfolio amounted to PLN 202.7 billion while their share in total debt in marketable Treasury bonds issued domestically increased to 33.5% compared to 32.9 % at the end of November.

    non-resident holdings in Treasury bonds

    (A) The face value of Treasury Securities used as collateral of state budget deposits in commercial banks is presented in "Ministry of Finance" subcategory (within "Others" category) and thus is deducted from the banking sector category.
     

      Nominal T-bonds and T-bills outstanding at the end of December 2017 (PLN million)
    T-bonds T-Bills Total
    Banks 243 897,44 0,00 243 897,44
    Foreign investors* 202 714,47 0,00 202 714,47
    Insurance funds 59 802,22 0,00 59 802,22
    Pension funds 2 330,04 0,00 2 330,04
    Investment funds 57 112,47 0,00 57 112,47
    Individuals 15 949,20 0,00 15 949,20
    Non-financial sector 1 129,18 0,00 1 129,18
    Others Total 38 168,05 0,00 38 168,05
    Including MoF 0,00 0,00 0,00
    Total 621 103,06 0,00 621 103,06

    (B) The face value of Treasury Securities used as collateral of state budget deposits in commercial banks was retained within "Banks" category and thus is not presented in "Others" category.
     

      Nominal T-bonds and T-bills outstanding at the end of December 2017 (PLN million)
    T-bonds T-Bills Total
    Banks Total 243 897,44 0,00 243 897,44
    Including MoF 0,00 0,00 0,00
    Foreign investors* 202 714,47 0,00 202 714,47
    Insurance funds 59 802,22 0,00 59 802,22
    Pension funds 2 330,04 0,00 2 330,04
    Investment funds 57 112,47 0,00 57 112,47
    Individuals 15 949,20 0,00 15 949,20
    Non-financial sector 1 129,18 0,00 1 129,18
    Others 38 168,05 0,00 38 168,05
    Total 621 103,06 0,00 621 103,06


    * The face value of Treasury securities located on Omnibus accounts (new form of register of securities designed for non-residents) at the end of the month is included in "Foreign investors" category.

    Historical data are available in the file portfele.xls
    Last update - 31.01.2018 

    Detailed information on institutional and geographical distribution of non-residents holdings is available in the following tables and in the attached files: Struktura_nierezydentów.xlsm, Nierezydenci_kraje.xlsx, Portfele_nierezydentów_po_seriach.xls. Additionally, a new category "omnibus accounts" was distinguished among foreign entities due to the fact that there is no possibility to identify investors entitled to securities registered on these accounts.


    Institutional distribution of non-residents holdings in Treasury securities issued on the local market at the end of December 2017

      Institutional distribution of non-residents holdings in Treasury securities issued on the local market at the end of December 2017 (PLN million)
    T-bonds T-Bills Total
    Banks 5 556,98 0,00 5 556,98
    Central banks 35 660,41 0,00 35 660,41
    Public institutions 5 947,60 0,00 5 947,60
    Insurance funds 9 890,34 0,00 9 890,34
    Pension funds 15 641,74 0,00 15 641,74
    Investment funds 39 897,34 0,00 39 897,34
    Hedge funds 1 241,57 0,00 1 241,57
    Individuals 52,54 0,00 52,54
    Non-financial entities 7 056,80 0,00 7 056,80
    Others 27 197,29 0,00 27 197,29
    Total 148 142,58 0,00 148 142,58
    Omnibus accounts** 54 571,89 0,00 54 571,89
    Non-residents total 202 714,47 0,00 202 714,47


    Geographical distribution of non-residents holdings in Treasury securities issued on the local market at the end of December 2017

      Geographical distribution of non-residents holdings in Treasury securities issued on the local market at the end of December 2017 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 44 949,49 0,00 44 949,49
    Europe - EU non-eurozone 9 471,36 0,00 9 471,36
    Europe - non-EU 6 679,74 0,00 6 679,74
    Africa 35,81 0,00 35,81
    South America (incl. Caribbean) 725,96 0,00 725,96
    North America 19 225,50 0,00 19 225,50
    Australia and Oceania 1 984,31 0,00 1 984,31
    Asia (excl. Middle East) 59 407,69 0,00 59 407,69
    Middle East 5 662,74 0,00 5 662,74
    Total 148 142,58 0,00 148 142,58
    Omnibus accounts** 54 571,89 0,00 54 571,89
    Non-residents total 202 714,47 0,00 202 714,47


    ** Omnibus accounts – accounts run by direct participants of the National Depository (KDPW) who are not holders of securities registered on these accounts. Introduction of omnibus accounts facilitated foreign investors access to Polish Treasury securities market. Due to the previous regulations holding separate account dedicated for operations on Polish market was required which formed cost and organizational barrier.


    Geographical distribution of central banks holdings in Treasury securities issued on the local market at the end of December 2017

      Geographical distribution of central banks holdings in Treasury securities issued on the local market at the end of December 2017 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 34,01 0,00 34,01
    Europe - EU non-eurozone 0,00 0,00 0,00
    Europe - non-EU 0,00 0,00 0,00
    Africa 25,21 0,00 25,21
    South America (incl. Caribbean) 50,00 0,00 50,00
    North America 0,00 0,00 0,00
    Australia and Oceania 0,00 0,00 0,00
    Asia (excl. Middle East) 33 157,17 0,00 33 157,17
    Middle East 2 394,02 0,00 2 394,02
    Total 35 660,41 0,00 35 660,41


    Non-residents holdings in marketable T-bonds and T-bills

    Day Non-residents holdings in marketable T-bonds and T-bills* (PLN million)
    T-bonds T-Bills Total
    01.12.2017 200 926,11 0,00 200 926,11
    04.12.2017 203 206,55 0,00 203 206,55
    05.12.2017 203 210,06 0,00 203 210,06
    06.12.2017 203 502,09 0,00 203 502,09
    07.12.2017 204 938,13 0,00 204 938,13
    08.12.2017 205 406,49 0,00 205 406,49
    11.12.2017 203 414,96 0,00 203 414,96
    12.12.2017 204 458,41 0,00 204 458,41
    13.12.2017 204 047,89 0,00 204 047,89
    14.12.2017 204 552,36 0,00 204 552,36
    15.12.2017 204 669,09 0,00 204 669,09
    18.12.2017 203 825,63 0,00 203 825,63
    19.12.2017 205 125,24 0,00 205 125,24
    20.12.2017 204 218,22 0,00 204 218,22
    21.12.2017 203 534,33 0,00 203 534,33
    22.12.2017 202 603,98 0,00 202 603,98
    27.12.2017 202 688,04 0,00 202 688,04
    28.12.2017 202 411,85 0,00 202 411,85
    29.12.2017 202 676,83 0,00 202 676,83


    Historical data are available in the file nierezydenci.xls
    Last update - 31.01.2018

     

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