Structure of investors

    Structure of investors

    The holdings of local currency Treasury bonds by non-residents increased by PLN 2.4 billion in March. At the end of the month the value of their marketable bonds portfolio amounted to PLN 202.8 billion while their share in total debt in marketable Treasury bonds issued domestically increased to 32.5% compared to 32.3 % at the end of February.

    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 March 2018 (PLN million)
    T-bonds T-Bills Total
    Banks 255 780,13 0,00 255 780,13
    Foreign investors* 202 816,42 0,00 202 816,42
    Insurance funds 62 342,39 0,00 62 342,39
    Pension funds 2 409,86 0,00 2 409,86
    Investment funds 57 844,39 0,00 57 844,39
    Individuals 16 834,24 0,00 16 834,24
    Non-financial sector 1 063,79 0,00 1 063,79
    Others Total 40 326,05 0,00 40 326,05
    Including MoF 0,00 0,00 0,00
    Total 639 417,27 0,00 639 417,27

    (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 March 2018 (PLN million)
    T-bonds T-Bills Total
    Banks Total 255 780,13 0,00 255 780,13
    Including MoF 0,00 0,00 0,00
    Foreign investors* 202 816,42 0,00 202 816,42
    Insurance funds 62 342,39 0,00 62 342,39
    Pension funds 2 409,86 0,00 2 409,86
    Investment funds 57 844,39 0,00 57 844,39
    Individuals 16 834,24 0,00 16 834,24
    Non-financial sector 1 063,79 0,00 1 063,79
    Others 40 326,05 0,00 40 326,05
    Total 639 417,27 0,00 639 417,27

     

    * 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 - 27.04.2018

    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 March 2018

      Institutional distribution of non-residents holdings in Treasury securities issued on the local market at the end of March 2018 (PLN million)
    T-bonds T-Bills Total
    Banks 7 109,52 0,00 7 109,52
    Central banks 35 872,82 0,00 35 872,82
    Public institutions 1 557,28 0,00 1 557,28
    Insurance funds 10 843,57 0,00 10 843,57
    Pension funds 15 311,13 0,00 15 311,13
    Investment funds 40 503,26 0,00 40 503,26
    Hedge funds 1 086,61 0,00 1 086,61
    Individuals 55,13 0,00 55,13
    Non-financial entities 5 936,22 0,00 5 936,22
    Others 29 671,39 0,00 29 671,39
    Total 147 946,93 0,00 147 946,93
    Omnibus accounts** 54 869,49 0,00 54 869,49
    Non-residents total 202 816,42 0,00 202 816,42


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

      Geographical distribution of non-residents holdings in Treasury securities issued on the local market at the end of March 2018 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 44 658,91 0,00 44 658,91
    Europe - EU non-eurozone 12 400,23 0,00 12 400,23
    Europe - non-EU 2 423,22 0,00 2 423,22
    Africa 35,81 0,00 35,81
    South America (incl. Caribbean) 709,26 0,00 709,26
    North America 17 912,33 0,00 17 912,33
    Australia and Oceania 2 004,03 0,00 2 004,03
    Asia (excl. Middle East) 61 909,21 0,00 61 909,21
    Middle East 5 893,93 0,00 5 893,93
    Total 147 946,93 0,00 147 946,93
    Omnibus accounts** 54 869,49 0,00 54 869,49
    Non-residents total 202 816,42 0,00 202 816,42

     

    ** 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 March 2018

      Geographical distribution of central banks holdings in Treasury securities issued on the local market at the end of March 2018 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 26,83 0,00 26,83
    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) 33 891,06 0,00 33 891,06
    Middle East 1 879,73 0,00 1 879,73
    Total 35 872,82 0,00 35 872,82


    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
    01.03.2018 200 810,46 0,00 200 810,46
    02.03.2018 200 360,33 0,00 200 360,33
    05.03.2018 202 386,48 0,00 202 386,48
    06.03.2018 203 302,70 0,00 203 302,70
    07.03.2018 204 136,45 0,00 204 136,45
    08.03.2018 204 815,67 0,00 204 815,67
    09.03.2018 205 625,69 0,00 205 625,69
    12.03.2018 204 303,82 0,00 204 303,82
    13.03.2018 205 027,74 0,00 205 027,74
    14.03.2018 205 072,17 0,00 205 072,17
    15.03.2018 205 986,18 0,00 205 986,18
    16.03.2018 205 558,15 0,00 205 558,15
    19.03.2018 205 048,39 0,00 205 048,39
    20.03.2018 205 008,26 0,00 205 008,26
    21.03.2018 205 932,64 0,00 205 932,64
    22.03.2018 204 091,44 0,00 204 091,44
    23.03.2018 204 086,12 0,00 204 086,12
    26.03.2018 202 818,25 0,00 202 818,25
    27.03.2018 202 811,16 0,00 202 811,16
    28.03.2018 202 271,37 0,00 202 271,37
    29.03.2018 202 513,26 0,00 202 513,26
    30.03.2018 202 776,71 0,00 202 776,71


    Historical data are available in the file nierezydenci.xls
    Last update - 27.04.2018

     

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