State Debt
News
Issuance Calendars for 2nd Quarter 2010
Purchase of State Bonds by the European Investment Bank
On 26 January 2010, the European Investment Bank purchased from the Ministry of Finance state bonds in the aggregate nominal value of CZK 1.000.000.000,00 ISIN CZ0001002547, for a total price of CZK 1.133.158.333,33. The trade is made under the Funding Agreement between the Ministry of Finance and the European Investment Bank dated 13 October 2009, under which the European Investment Bank agreed to purchase state bonds from the Ministry from time to time subject to satisfaction of certain conditions.
- For and on behalf of the Ministry of Finance of the Czech Republic
- Date: 1 February 2010
Annual Performance Evaluation of the Czech Primary Dealers - year 2009
The regular comprehensive evaluation of Primary Dealers is carried out on the basis of the four quantitative criteria specified in „Financing and Debt Management Strategy for 2006“ published on 1st December 2005 and put more formally within the document „Conduct of Cooperation and Performance Evaluation of the Activities of Primary Dealers in the Czech Government Bonds“ released in the Ministry’s Financial Newsletter, No. 11-12, on 15th December 2006.
The next five financial institutions listed thereinafter were the most active in the Czech domestic primary and secondary government bond market, in the electronic secondary NewEuroMTS market with trading of Czech eurobonds, in operations within financial management of debt portfolio and in the treasury liquidity management operations.
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Source: MoF, Debt and Financial Assets Management Department
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Published: 1st February 2010
Evaluation of Primary Dealers - 4th quarter 2009
The regular comprehensive evaluation of Primary Dealers is carried out on the basis of the specified quantitative criteria.
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Source: MoF, Debt and Financial Assets Management Department
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Published: 1st February 2010
Debt Portfolio Management Quarterly Review - December 2009
The Ministry of Finance submits the twentieth Debt Portfolio Management Quarterly Review to present the underlying debt portfolio risk management measures and performance with respect to the planned annual financing programme and achieving the medium-term strategic targets of debt management policy. For the year 2009, these targets were quantified by the Financing and Debt Management Strategy for 2009 released on 3 December 2008 and based on the Finance Minister’s decision. The Strategy specifies operating space of the asset and liability management trough issuance activity, financial investment and active operations of MoF on secondary market of government bonds and financial derivatives.
- Published on January 08, 2010 by Funding & Portfolio Management, Ministry of finance
Year 2009
Quarterly tables on the level and development of the central government debt (3rd quarter 2009)
The Ministry of Finance publishes tables concerning the level and development of the central government debt for 3rd quarter 2009 under the methodology of IMF. The tables facilitate to analyze the debt under following basic criterions:
- Central Government Debt by Type of Instrument
- Central Government Debt by Maturity
- Central Government Debt by Type of Holder
The Ministry of Finance also offers data on state guarantees and time series of the development of the central government debt:
Data concerning the level and development of the central government debt are available in the summary table as well:
Issuance Calendars for 1st Quarter 2010
Funding and Debt Management Strategy for 2010
The Strategy is based on and is consistent with the draft act on the Czech Republic’s state budget for 2010, the Medium-term Outlook of the Czech Republic’s State Budget for 2011 and 2012, the Medium-term Expenditure Framework for 2011 and 2012, the internal Issuance Plan of Government Bonds for 2010 to 2012 and the Czech Republic’s Convergence Programme.
Ministry of Finance is prepared to issue Eurobonds
The Czech Republic, acting through the Ministry of Finance, has mandated Barclays Capital, Česká spořitelna (Erste Group), and Deutsche Bank as Joint lead Managers for a Euro-denominated benchmark offering under its EMTN Programme.
Expected rating for the Notes is A1 / A / A+, all with a stable outlook. The deal will be launched subject to market conditions.
Ondřej Jakob
Spokesman of Ministry of Finance
Quarterly Review Debt Portfolio Management
Debt Portfolio Management Quarterly Review - December 2009
Published on January 08, 2010 by Funding & Portfolio Management, Ministry of finance
Debt Portfolio Management Quarterly Review - September 2009
Published on October 08, 2009 by Funding & Portfolio Management, Ministry of finance
Debt Portfolio Management Quarterly Review - June 2009
Published on July 8, 2009 by Funding & Portfolio Management, Ministry of finance
Debt Portfolio Management Quarterly Review - March 2009
Published on April 8, 2009 by Funding & Portfolio Management, Ministry of finance
Current Information
Financing and Debt Strategy
Funding and Debt Management Strategy for 2010
Funding and Debt Management Strategy for 2009
Funding and Debt Management Strategy for 2008
Financing and Debt Strategy for 2007
The Strategy comes from and is consistent with the Draft Bill on the Czech Republic’s State Budget for the year 2007, the Medium-term Outlook of the Czech Republic’s State Budget for the years 2007 to 2009, the Medium-term Expenditure Frameworks for the years 2008 and 2009, the internal Issuance Plan of the State Bonds for the years 2007 to 2009 and with the Czech Republic Convergence Programme.
State Debt Management in the Czech Republic
Primary Dealers
Primary Dealers´ activity reporting on the Czech state bonds market is close to the structure of a harmonized format for primary dealers that is used to report on their activity in the euro-denominated government securities market from January 2006 onwards.
The Eurozone harmonized reporting format has been developed by the EFC Sub-Committee on EU Government Bonds and Bills Markets in co-operation with the European Primary Dealers Association (EPDA). Further information in the EFC group website:
http://www.europa.eu.int/comm/economy_finance/efc/efc_reports_en.htm 
- annex 1 = reporting templates format
- annex 3 = technical specifications manual
In the meanwhile Ministry of Finance of the Czech Republic has prepared simplified reporting format which will be completely workable in the second half of 2006 and completely harmonized when the Czech Republic will enter the Eurozone.
Conduct of Cooperation and Performance Evaluation of the Activities of Primary Dealers in the Czech Government Bonds
(link to Ministry of Finance´s Financial Newsletter, pp. 383-397)
Quantitative Criteria for Performance Evaluation
Primary Dealer Ranking 2009
Evaluation of Primary Dealers - Year 2009
Evaluation of Primary Dealers - 4th quarter 2009
Evaluation of Primary Dealers - 3rd quarter 2009
Evaluation of Primary Dealers - 2nd quarter 2009
Evaluation of Primary Dealers - 1st quarter 2009
