The volume of Hungarian government securities held by local households grew by more than HUF 100 billion in August, the latest Government Debt Management Agency (ÁKK) data showed on Monday. The increase came exclusively from bond sales, as the stock of households’ Treasury Bills practically stagnated.
According to ÁKK data, the stock of government securities aimed directly for households grew by HUF 101.1 billion in September. The stock of the inflation-tracking Premium Hungarian Government Bond (PMAK) went up by HUF 28.5 bn in September; there was a growth of HUF 72.2 bn at Bonus Hungarian Government bond (linked to market rates) and a HUF 0.6 bn increase in the volume of Baby Bonds. The combined volume 12-month and 24-month Treasury Savings Bills and Treasury Savings Bills Plus held by households rose by HUF 1.3 and the total stock of 6-month Treasury Bills increased by HUF 1.8 bn.
The volume of interest-bearing Treasury Bills, however, decreased by HUF 3.3 bn despite HUF 100 bn gross sales. When it comes to evaluating the monthly performance we need to see that the volume of households-held government securities actually rose slightly by HUF 33 bn, which stemmed fully from 3-6-year bonds. Public benefit purpose entities were especially active during last month, having bought HUF 68 bn worth of bonds, chiefly retail bonds. The debt manager gives the opportunity to such organisations (funds, etc.) to buy interest-bearing T-bills, as well as Premium and Bonus Government Bonds.
The volume of Hungarian government securities held by households increased by HUF 645.1 billion in the first nine months of this year. The volume of interest-bearing Treasury Bills went up HUF 127.6 bn, the volume of 6-m T-bills rose HUF 7.9 bn, the volume of Premium and Bonus Hungarian Gov’t Bonds went up HUF 479.2 bn, Treasury Savings Bills and Treasury Savings Bills Plus showed a HUF 14.5 bn increase and ‘Baby Bonds’ recorded a HUF 5.8 bn rise.
The total volume of government securities sold expressly to households rose to HUF 2,323.7 bn in the following breakdown: interest-bearing Treasury Bills - HUF 1,115.7 bn, 6-m T-bills - HUF 29.2 bn, Treasury Savings Bills and Treasury Savings Bills Plus - HUF 349.2 bn, Premium and Bonus Hungarian Gov’t Bonds - HUF 822.1 bn, ‘Baby Bonds’ - HUF 7.3 bn. The volume of Premium Euro Hungarian Government Bond (PEMAK) reached HUF 2,365.6 bn by end-September.
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