Outstanding Dutch debt securities reach record level

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Total net issues of both short-and long-term debt securities by Dutch residents increased by 19% to €34bn in the first quarter of 2014, according to the latest figures released by the Dutch Central Bank (DNB).

The outstanding amount of short-and long term securities is currently at €1809bn, which represents triple the size of the Dutch GDP and a new record level of outstanding Dutch debt securities.

Key factor in the rise is an increase of borrowing by the Dutch government, which effected net bond issues of €10bn while total outstanding government bonds increased by 3% quarter on quarter to €333bn.

At the same time, gross issues of money market paper declined by 21% quarter on quarter, short term debt issues have declined for the last three quarters. Out of the total money market activity, banks borrowed €24bn, which represents a 13 % decline quarter on quarter, while the government issued €25bn worth, representing a 35% increase compared to Q1.

Meanwhile, redemptions decreased by 20% quarter on quarter, these figures reflect overall Eurozone developments, with Eurozone redemptions declining by 8% compared to the previous quarter, the value of outstanding bonds in the Euro area rose to €15212bn.

Mona Dohle
Mona Dohle speaks German and Dutch and is DACH & Benelux Correspondent for InvestmentEurope.

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