Structure of investors

    Structure of investors

    The holdings of local currency Treasury bonds by non-residents decreased by PLN 2.8 billion in August. At the end of the month the value of their marketable bonds portfolio amounted to PLN 187.8 billion while their share in the total debt in marketable Treasury bonds issued domestically decreased to 30.5% compared to 30.9% at the end of July.

    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 August 2018 (PLN million)
    T-bonds T-Bills Total
    Banks 261 229,87 0,00 261 229,87
    Foreign investors* 187 864,77 0,00 187 864,77
    Insurance funds 63 448,86 0,00 63 448,86
    Pension funds 2 203,23 0,00 2 203,23
    Investment funds 59 306,29 0,00 59 306,29
    Individuals 18 746,80 0,00 18 746,80
    Non-financial sector 1 177,30 0,00 1 177,30
    Others Total 41 031,71 0,00 41 031,71
    Including MoF 0,00 0,00 0,00
    Total 635 008,82 0,00 635 008,82

    (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 August 2018 (PLN million)
    T-bonds T-Bills Total
    Banks Total 261 229,87 0,00 261 229,87
    Including MoF 0,00 0,00 0,00
    Foreign investors* 187 864,77 0,00 187 864,77
    Insurance funds 63 448,86 0,00 63 448,86
    Pension funds 2 203,23 0,00 2 203,23
    Investment funds 59 306,29 0,00 59 306,29
    Individuals 18 746,80 0,00 18 746,80
    Non-financial sector 1 177,30 0,00 1 177,30
    Others 41 031,71 0,00 41 031,71
    Total 635 008,82 0,00 635 008,82


    * 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 - 28.09.2018

    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 August 2018

      Institutional distribution of non-residents holdings in Treasury securities issued on the local market at the end of August 2018 (PLN million)
    T-bonds T-Bills Total
    Banks 4 051,26 0,00 4 051,26
    Central banks 39 215,84 0,00 39 215,84
    Public institutions 443,69 0,00 443,69
    Insurance funds 9 801,56 0,00 9 801,56
    Pension funds 14 394,21 0,00 14 394,21
    Investment funds 31 645,52 0,00 31 645,52
    Hedge funds 2 580,42 0,00 2 580,42
    Individuals 54,40 0,00 54,40
    Non-financial entities 9 186,44 0,00 9 186,44
    Others 28 177,22 0,00 28 177,22
    Total 139 550,56 0,00 139 550,56
    Omnibus accounts** 48 314,20 0,00 48 314,20
    Non-residents total 187 864,77 0,00 187 864,77


    Geographical distribution of non-residents holdings in Treasury securities issued on the local market at the end of August 2018

      Geographical distribution of non-residents holdings in Treasury securities issued on the local market at the end of August 2018 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 39 310,99 0,00 39 310,99
    Europe - EU non-eurozone 9 474,81 0,00 9 474,81
    Europe - non-EU 1 566,67 0,00 1 566,67
    Africa 48,37 0,00 48,37
    South America (incl. Caribbean) 709,61 0,00 709,61
    North America 13 807,42 0,00 13 807,42
    Australia and Oceania 1 816,95 0,00 1 816,95
    Asia (excl. Middle East) 67 383,91 0,00 67 383,91
    Middle East 5 431,84 0,00 5 431,84
    Total 139 550,56 0,00 139 550,56
    Omnibus accounts** 48 314,20 0,00 48 314,20
    Non-residents total 187 864,77 0,00 187 864,77


    ** 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 August 2018

      Geographical distribution of central banks holdings in Treasury securities issued on the local market at the end of August 2018 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 27,07 0,00 27,07
    Europe - EU non-eurozone 0,00 0,00 0,00
    Europe - non-EU 0,00 0,00 0,00
    Africa 27,76 0,00 27,76
    South America (incl. Caribbean) 25,00 0,00 25,00
    North America 0,00 0,00 0,00
    Australia and Oceania 0,00 0,00 0,00
    Asia (excl. Middle East) 37 219,40 0,00 37 219,40
    Middle East 1 916,60 0,00 1 916,60
    Total 39 215,84 0,00 39 215,84


    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
    01.08.2018 190 075,30 0,00 190 075,30
    02.08.2018 190 811,20 0,00 190 811,20
    03.08.2018 191 097,15 0,00 191 097,15
    06.08.2018 190 075,10 0,00 190 075,10
    07.08.2018 189 608,71 0,00 189 608,71
    08.08.2018 189 492,34 0,00 189 492,34
    09.08.2018 189 704,71 0,00 189 704,71
    10.08.2018 189 213,35 0,00 189 213,35
    13.08.2018 189 353,37 0,00 189 353,37
    14.08.2018 188 744,77 0,00 188 744,77
    16.08.2018 188 666,91 0,00 188 666,91
    17.08.2018 188 301,89 0,00 188 301,89
    20.08.2018 188 617,26 0,00 188 617,26
    21.08.2018 189 289,13 0,00 189 289,13
    22.08.2018 188 998,52 0,00 188 998,52
    23.08.2018 189 707,41 0,00 189 707,41
    24.08.2018 190 094,01 0,00 190 094,01
    27.08.2018 190 917,93 0,00 190 917,93
    28.08.2018 190 216,29 0,00 190 216,29
    29.08.2018 189 067,41 0,00 189 067,41
    30.08.2018 188 317,14 0,00 188 317,14
    31.08.2018 187 823,93 0,00 187 823,93


    Historical data are available in the file nierezydenci.xls
    Last update - 28.09.2018

     

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