Debt securities, Q2 2010

In Norway, 782 issues of debt securities amounted to NOK 451.6 billion were registered during the first half of 2010. A total of 195 of these issues, valued at NOK 181.1 billion, were registered in June 2010. Compared with the first half of 2009, the number and amount of issues were reduced by 10 per cent and 20 per cent respectively. The major part of the number of issues (397) referred to commercial papers as well as the largest amount (NOK 324.5 billion).

High volumes caused by replacements of Treasury bills, moderate values of new security debts

By groups of issuers, a major part of issues in Norway during the first half of 2010 referred to the central government, NOK 286.1 billion. This is an increase of 21 per cent compared with the first half of 2009. A considerable part of the issues was caused by ‘rollovers’ /swap arrangements in which new Treasury bills have replaced old Treasury bills at their time of maturity. The second largest amount, NOK 48.5 billion, referred to commercial and savings banks.

Compared with the first half of 2009, the amount of issues by banks was reduced by 44 per cent. The third largest amount of issues, NOK 28.8 billion, referred to ‘other financial corporations’. This is a reduction of 78 per cent compared with the first six months last year, when ‘other financial corporations’ was the largest group of issuers. The volumes of issues have also been reduced in the same period in other sectors.

Considerable volumes of issues outside Norway

During the first half of 2010, Norwegian entities issued 1 164 bonds and commercial papers valued at NOK 499.5 billion abroad. A total of 214 of these issues, valued at NOK 102.4 billion, were registered in June 2010.The number of the issues decreased by 13 per cent, but the value rose by 7 per cent compared with the first half of 2009. Banks and ‘Other financial corporations’ issued amounts at relatively equal levels, NOK 228.9 billion and NOK 221.0 billion.

Continued high value of outstanding debt securities

Outstanding bond and short-term securities in Norway at the end of June 2010 amounted to NOK 1 606 billion; an increase of 16 per cent compared with the end of June last year. Norwegian entities’ outstanding bond and short-term securities abroad amounted to NOK 1 205 billion. Approximately 40 per cent of Norwegian entities’ debts in Norway and abroad fall due in 2010 or 2011.

Tables:

• Table 1 Gross issues of bonds and short-term securities per month. Number of issues and nominal value of issues in NOK million
• Table 2 Bonds issued in Norway. Nominal value. NOK million
• Table 3 Domestic bond debts. Nominal value. NOK million
• Table 4 Commercial papers issued in Norway. Nominal value. NOK million
• Table 5 Domestic commercial papers debt. Nominal value. NOK million
• Table 6 Domestic bond and commercial papers debts at the end of June 20109. Nominal value. NOK million
• Table 7 Bonds and short-term securities issued by Norwegians abroad . Nominal value. NOK million
• Table 8 Norwegian entities' bonds and short-term securities debts abroad at the end of June 2010 at maturity. Nominal value. NOK million
• Table 9 Issues of bonds in Norway. Number and nominal value. NOK million
• Table 10 Issues of commercial papers in Norway. Number and nominal value. NOK million
• Table 11 Bonds and short-term securities issued abroad by issuing sector. Number of issues and nominal value of issued. NOK million