Structure of investors

    Structure of investors

    The holdings of local currency Treasury bonds by non-residents decreased by PLN 4.6 billion in June. At the end of the month the value of their marketable bonds portfolio amounted to PLN 192.1 billion while their share in total debt in marketable Treasury bonds issued domestically decreased to 31.0% compared to 31.8% at the end of May.

    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 June 2018 (PLN million)
    T-bonds T-Bills Total
    Banks 263 151,11 0,00 263 151,11
    Foreign investors* 192 140,14 0,00 192 140,14
    Insurance funds 62 407,66 0,00 62 407,66
    Pension funds 2 207,05 0,00 2 207,05
    Investment funds 57 033,37 0,00 57 033,37
    Individuals 18 020,69 0,00 18 020,69
    Non-financial sector 1 141,46 0,00 1 141,46
    Others Total 40 481,87 0,00 40 481,87
    Including MoF 0,00 0,00 0,00
    Total 636 583,36 0,00 636 583,36

    (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 June 2018 (PLN million)
    T-bonds T-Bills Total
    Banks Total 263 151,11 0,00 263 151,11
    Including MoF 0,00 0,00 0,00
    Foreign investors* 192 140,14 0,00 192 140,14
    Insurance funds 62 407,66 0,00 62 407,66
    Pension funds 2 207,05 0,00 2 207,05
    Investment funds 57 033,37 0,00 57 033,37
    Individuals 18 020,69 0,00 18 020,69
    Non-financial sector 1 141,46 0,00 1 141,46
    Others 40 481,87 0,00 40 481,87
    Total 636 583,36 0,00 636 583,36


    * 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 - 31.07.2018

    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 June 2018

      Institutional distribution of non-residents holdings in Treasury securities issued on the local market at the end of June 2018 (PLN million)
    T-bonds T-Bills Total
    Banks 3 900,99 0,00 3 900,99
    Central banks 35 402,18 0,00 35 402,18
    Public institutions 387,69 0,00 387,69
    Insurance funds 11 105,00 0,00 11 105,00
    Pension funds 15 017,75 0,00 15 017,75
    Investment funds 36 923,23 0,00 36 923,23
    Hedge funds 1 238,14 0,00 1 238,14
    Individuals 56,89 0,00 56,89
    Non-financial entities 7 986,88 0,00 7 986,88
    Others 26 887,62 0,00 26 887,62
    Total 138 906,36 0,00 138 906,36
    Omnibus accounts** 53 233,78 0,00 53 233,78
    Non-residents total 192 140,14 0,00 192 140,14


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

      Geographical distribution of non-residents holdings in Treasury securities issued on the local market at the end of June 2018 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 41 235,20 0,00 41 235,20
    Europe - EU non-eurozone 9 963,68 0,00 9 963,68
    Europe - non-EU 1 659,39 0,00 1 659,39
    Africa 45,82 0,00 45,82
    South America (incl. Caribbean) 678,37 0,00 678,37
    North America 14 368,33 0,00 14 368,33
    Australia and Oceania 1 812,48 0,00 1 812,48
    Asia (excl. Middle East) 63 335,21 0,00 63 335,21
    Middle East 5 807,89 0,00 5 807,89
    Total 138 906,36 0,00 138 906,36
    Omnibus accounts** 53 233,78 0,00 53 233,78
    Non-residents total 192 140,14 0,00 192 140,14


    ** 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 June 2018

      Geographical distribution of central banks holdings in Treasury securities issued on the local market at the end of June 2018 (PLN million)
    T-bonds T-Bills Total
    Europe - eurozone 16,13 0,00 16,13
    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) 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) 33 471,30 0,00 33 471,30
    Middle East 1 864,54 0,00 1 864,54
    Total 35 402,18 0,00 35 402,18


    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
    01.06.2018 192 724,09 0,00 192 724,09
    04.06.2018 192 850,51 0,00 192 850,51
    05.06.2018 192 773,24 0,00 192 773,24
    06.06.2018 193 534,78 0,00 193 534,78
    07.06.2018 194 393,18 0,00 194 393,18
    08.06.2018 193 401,80 0,00 193 401,80
    11.06.2018 192 574,83 0,00 192 574,83
    12.06.2018 191 616,08 0,00 191 616,08
    13.06.2018 192 773,54 0,00 192 773,54
    14.06.2018 191 455,65 0,00 191 455,65
    15.06.2018 191 489,38 0,00 191 489,38
    18.06.2018 191 807,91 0,00 191 807,91
    19.06.2018 191 857,49 0,00 191 857,49
    20.06.2018 191 925,39 0,00 191 925,39
    21.06.2018 192 013,48 0,00 192 013,48
    22.06.2018 191 678,87 0,00 191 678,87
    25.06.2018 191 705,11 0,00 191 705,11
    26.06.2018 191 406,06 0,00 191 406,06
    27.06.2018 190 991,80 0,00 190 991,80
    28.06.2018 192 152,73 0,00 192 152,73
    29.06.2018 192 097,60 0,00 192 097,60


    Historical data are available in the file nierezydenci.xls
    Last update - 31.07.2018

     

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