Central banks hold 7.7% of all non-resident held Polish T-bonds as end of April

By bne IntelliNews June 18, 2014

Central banks held Polish Treasury bonds issued on the local market worth of PLN 14.43bn (EUR 3.48bn) at the end of April vs. the total of PLN 187.64bn of such securities held by all non-residents. Commercial banks held T-bonds worth of PLN 11.86bn at that time, while investment funds - PLN 79.07bn.

However, the ministry of finance noted that a sizeable part of these securities (PLN 30.40bn) was stored on the so-called 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, the ministry explained.

In geographical terms, investors from two regions dominated: the euro-zone (PLN 54.95bn) and North America (48.96bn).

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