Ministry´s Operations 2018

Dept 20 - Debt and Financial Assets Management Department
Dept 20 - Debt and Financial Assets Management Department

Published

  • Secondary Market
  • State Debt
Updated 22-6-2018
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Tap sales and Lending facility
  • Tap sales and Lending facility
  • Tap sales and Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Lending facility
  • Tap sales and Lending facility
  • Tap sales and Switch auctions
  • Lending facility
  • Lending facility
  • Tap sales and Lending facility

Ministry's operations on the secondary market

The long-term objectives for operations on the secondary market contribute to re-financing risk management and support liquidity and effectiveness of the secondary market functioning. An effective secondary market in terms of minimising transaction costs and maintaining market depth and price stability is a necessary condition for the issuing activity of the state and smooth and cost-effective funding over the long term. The Ministry of Finance has been operating actively on the secondary market, primarily through the MTS Czech Republic electronic trading platform. The MTS Czech Republic enables carrying out buy-backs, tap sales and exchanges of government bonds from the Ministry's own portfolio.

According to the Primary Dealer Agreement for Czech Government Securities the Ministry of Finance may execute tap sales and exchanges any trading day 10:00 a.m. – 12:00 a.m. and 2:00 p.m. – 4:00 p.m. CET when there is no auction executed. The Ministry of Finance may execute buy-backs on any trading Day 10:00 a.m. – 12:00 a.m. and 2:00 p.m. – 4:00 p.m. CET.

Buy-backs, tap sales and exchanges on the secondary market occur in a transparent manner. As a matter of practice, the Ministry of Finance will inform all Primary Dealers about the intention to conduct a transaction one business day prior to the date on which the transaction is to occur. The Primary Dealers will be notified about:

1. the type of transaction (buy-back, tap sale or exchange),
2. the particular government bond (auctioned bond or buy back bond) ,
3. the maximum total volume of the transaction with particular government bonds,
4. the time when bid or offers from primary dealers can be submitted via the system,
5. the date of settlement,
6. the contact person at the Ministry.

At the time offers are accepted from Primary Dealers, the Primary Dealers may enter into the system their prices and the volume of each buy-backs, tap sales or exchanges. Afterward, depending on the price and the volume, the Ministry will either accept or reject the offer. The Ministry may accept offers from more than one Primary Dealer, but is not obligated to accept any Primary Dealer's offer.

The Ministry of Finance may execute lending facilities on the secondary market. The lending facilities are available as repo transactions and as loans of securities. Primary Dealers borrow the Czech Government Bonds and the Ministry of Finance borrows CZK liquidity, Czech Government Bonds, Treasury Bills or Czech National Bank Bills. Transactions may be made on trading days between 8:00 a.m. and 4:00 p.m. CET.

Repo operations are the most common instrument used for the purposes of cash management of the treasury single account. Repo operations are short-term collateralized investments with Czech Government Bonds, T-bills or Czech National Bank bills used as collateral.

Operations with T-Bonds on the Secondary Market

Buy - Backs
Settlement date Issue name ISIN Nominal Amount (CZK) Average Price Number of Counterparties

Updated:

Tap Sales
Settlement date Issue name ISIN Nominal Amount (CZK) Average Price Number of Counterparties
20.02.2018 CZGB 4.85/57 CZ0001002059 90 000 000 146.800   2
27.02.2018 CZGB 0.95/30 CZ0001004477 200 000 000 87.700 1
27.02.2018 CZGB 4.20/36 CZ0001001796 115 000 000 127.500 1
27.02.2018 CZGB 4.85/57 CZ0001002059 50 000 000 146.800 1
28.02.2018 CZGB 0.95/30 CZ0001004477 300 000 000 87.850 2
29.05.2018 CZGB 4.20/36 CZ0001001796 50 000 000 123.952 1
29.05.2018 CZGB 4.85/57 CZ0001002059 20 000 000 141.498  1
31.05.2018 CZGB 4.70/22 CZ0001001945 11 000 000 114.724 1
31.05.2018 CZGB 4.20/36 CZ0001001796 100 000 000 124.417 1
01.06.2018 CZGB 4.20/36 CZ0001001796 50 000 000 124.486 1
01.06.2018 CZGB 4.70/22 CZ0001001945 100 000 000 114.754 1
05.06.2018 CZGB 4.20/36 CZ0001001796 70 000 000 124.486 2
20.06.2018 CZGB 4.70/22 CZ0001001945 400 000 000 113.826 1

Updated: 22.06.2018

SWITCH AUCTIONs
Settlement Date Issuance Buy-back
Bond Face Amount (CZK) Average Price Bond Face Amount (CZK) Average Price
01.06.2018 CZGB 0.95/30 150 000 000 86.500 CZGB 5.00/19 150 000 000 103.632
04.06.2018 CZGB 0.95/30 200 000 000 86.500 CZGB 5.00/19 200 000 000 103.597

Updated: 01.06.2018

LENDING FACILITY - REPO transactions
Settlement Date Expiration Date Issue Name ISIN Face Amount (CZK)
02.01.2018 16.01.2018 CZGB 0.00/20 CZ0001005011 420 000 000
11.01.2018 26.01.2018 CZGB 3.85/21 CZ0001002851 60 000 000
16.01.2018 30.01.2018 CZGB 0.00/20 CZ0001005011 200 000 000
26.01.2018 09.02.2018 CZGB 3.85/21 CZ0001002851 50 000 000
01.02.2018 15.02.2018 CZGB 3.85/21 CZ0001002851 100 000 000
02.02.2018 16.02.2018 CZGB 0.00/20 CZ0001005011 150 000 000
05.02.2018 19.02.2018 CZGB 0.00/22 CZ0001005029 50 000 000
05.02.2018 19.02.2018 CZGB 0.95/30 CZ0001004477 50 000 000
06.02.2018 13.02.2018 CZGB 0.45/23 CZ0001004600 175 000 000
15.02.2018 16.02.2018 CZGB 3.85/21 CZ0001002851 50 000 000
16.02.2018 02.03.2018 CZGB 0.00/20 CZ0001005011 150 000 000
16.02.2018 02.03.2018 CZGB 0.00/20 CZ0001005011 100 000 000
27.02.2018 13.03.2018 CZGB 0.25/27 CZ0001005037 100 000 000
01.03.2018 15.03.2018 CZGB 0.00/20 CZ0001005011 300 000 000
05.03.2018 19.03.2018 CZGB 0.25/27 CZ0001005037 180 000 000
08.03.2018 09.03.2018 CZGB VAR/27 CZ0001004105 33 000 000
14.03.2018 28.03.2018 CZGB 0.25/27 CZ0001005037 100 000 000
16.03.2018 28.03.2018 CZGB 2.75/29 CZ0001005375 250 000 000
19.03.2018 28.03.2018 CZGB 0.25/27 CZ0001005037 180 000 000
20.03.2018 29.03.2018 CZGB 0.00/20 CZ0001005011 250 000 000
04.04.2018 13.04.2018 CZGB 0.25/27 CZ0001005037 101 000 000
06.04.2018 13.04.2018 CZGB 1.00/26 CZ0001004469 150 000 000
06.04.2018 20.04.2018 CZGB 0.95/30 CZ0001004477 50 000 000
12.04.2018 26.04.2018 CZGB 0.00/20 CZ0001005011 250 000 000
19.04.2018 03.05.2018 CZGB 2.50/28 CZ0001003859 200 000 000
24.04.2018 09.05.2018 CZGB 2.50/28 CZ0001003859 215 000 000
26.04.2018 10.05.2018 CZGB 0.00/20 CZ0001005011 150 000 000
30.04.2018 14.05.2018 CZGB 0.25/27 CZ0001005037 50 000 000
03.05.2018 17.05.2018 CZGB 3.85/21 CZ0001002851 50 000 000
09.05.2018 23.05.2018 CZGB 2.50/28 CZ0001003859 215 000 000
10.05.2018 11.05.2018 CZGB 0.25/27 CZ0001005037 100 000 000
10.05.2018 24.05.2018 CZGB 0.00/20 CZ0001005011 90 000 000
21.05.2018 04.06.2018 CZGB VAR/27 CZ0001004105 55 000 000
21.05.2018 25.05.2018 CZGB 1.00/26 CZ0001004469 400 000 000
24.05.2018 07.06.2018 CZGB 0.00/20 CZ0001005011 100 000 000
04.06.2018 18.06.2018 CZGB VAR/27 CZ0001004105 50 000 000

Updated: 08.06.2018

1 Repo operation from investment portfolio

LENDING FACILITY - LOANS OF SECURITIES
Settlement Date Expiration Date Issue Name ISIN Face Amount (CZK)
08.01.2018 08.03.2018 CZGB 0.25/27 CZ0001005037 246 000 000
11.01.2018 08.03.2018 CZGB VAR/27 CZ0001004105 33 000 000
12.01.2018 01.03.2018 CZGB 0.25/27 CZ0001005037 50 000 000
15.01.2018 01.03.2018 CZGB 0.25/27 CZ0001005037 250 000 000
18.01.2018 19.02.2018 CZGB 0.95/30 CZ0001004477 50 000 000
23.01.2018 23.03.2018 CZGB 5.70/24 CZ0001002547 97 000 000
24.01.2018 26.03.2018 CZGB 4.85/57 CZ0001002059 46 000 000
26.01.2018 02.03.2018 CZGB 4.20/36 CZ0001001796 80 000 000
30.01.2018 26.02.2018 CZGB 1.00/26 CZ0001004469 83 000 000
06.02.2018 05.03.2018 CZGB 4.20/36 CZ0001001796 30 000 000
09.02.2018 09.04.2018 CZGB 4.70/22 CZ0001001945 141 000 000
09.02.2018 09.05.2018 CZGB 0.25/27 CZ0001005037 200 000 000
12.02.2018 12.03.2018 CZGB 0.45/23 CZ0001004600 51 000 000
12.02.2018 12.04.2018 CZGB 0.25/27 CZ0001005037 664 000 000
19.02.2018 19.04.2018 CZGB 4.70/22 CZ0001001945 477 000 000
19.02.2018 19.04.2018 CZGB 3.85/21 CZ0001002851 61 000 000
19.02.2018 19.04.2018 CZGB 5.70/24 CZ0001002547 415 000 000
19.02.2018 19.04.2018 CZGB 5.70/24 CZ0001002547 73 000 000
21.02.2018 21.03.2018 CZGB VAR/27 CZ0001004105 260 000 000
21.02.2018 23.04.2018 CZGB 0.25/27 CZ0001005037 520 000 000
26.02.2018 26.04.2018 CZGB 0.25/27 CZ0001005037 70 000 000
27.02.2018 19.04.2018 CZGB VAR/27 CZ0001004105 63 000 000
27.02.2018 27.04.2018 CZGB VAR/27 CZ0001004105 200 000 000
01.03.2018 12.04.2018 CZGB 0.25/27 CZ0001005037 300 000 000
06.03.2018 09.03.2018 CZGB 0.45/23 CZ0001004600 50 000 000
08.03.2018 09.04.2018 CZGB 4.70/22 CZ0001001945 44 000 000
08.03.2018 09.05.2018 CZGB 0.25/27 CZ0001005037 246 000 000
12.03.2018 14.05.2018 CZGB 0.25/27 CZ0001005037 220 000 000
15.03.2018 09.05.2018 CZGB 4.20/36 CZ0001001796 15 000 000
21.03.2018 23.04.2018 CZGB VAR/27 CZ0001004105 260 000 000
23.03.2018 04.04.2018 CZGB 2.50/28 CZ0001003859 48 000 000
23.03.2018 23.05.2018 CZGB 5.70/24 CZ0001002547 97 000 000
27.03.2018 24.05.2018 CZGB 2.50/28 CZ0001003859 100 000 000
28.03.2018 04.04.2018 CZGB 0.25/27 CZ0001005037 100 000 000
29.03.2018 03.04.2018 CZGB VAR/27 CZ0001004105 477 000 000
29.03.2018 12.04.2018 CZGB 0.00/20 CZ0001005011 240 000 000
09.04.2018 13.04.2018 CZGB 4.70/22 CZ0001001945 485 000 000
12.04.2018 13.04.2018 CZGB 0.25/27 CZ0001005037 300 000 000
12.04.2018 27.04.2018 CZGB 2.75/29 CZ0001005375 50 000 000
12.04.2018 11.05.2018 CZGB VAR/20 CZ0001004113 72 000 000
12.04.2018 12.06.2018 CZGB 0.25/27 CZ0001005037 664 000 000
12.04.2018 12.06.2018 CZGB 0.25/27 CZ0001005037 30 000 000
18.04.2018 18.06.2018 CZGB 2.50/28 CZ0001003859 10 000 000
19.04.2018 25.05.2018 CZGB 1.00/26 CZ0001004469 84 000 000
19.04.2018 19.06.2018 CZGB 3.85/21 CZ0001002851 561 000 000
20.04.2018 23.04.2018 CZGB 4.70/22 CZ0001001945 100 000 000
23.04.2018 23.05.2018 CZGB VAR/27 CZ0001004105 260 000 000
27.04.2018 27.06.2018 CZGB 0.95/30 CZ0001004477 177 000 000
03.05.2018 17.07.2018 CZGB 0.95/30 CZ0001004477 200 000 000
09.05.2018 11.05.2018 CZGB 0.25/27 CZ0001005037 546 000 000
09.05.2018 11.05.2018 CZGB 4.20/36 CZ0001001796 55 000 000
09.05.2018 09.07.2018 CZGB 0.95/30 CZ0001004477 115 000 000
14.05.2018 25.05.2018 CZGB 1.00/26 CZ0001004469 299 000 000
21.05.2018 17.07.2018 CZGB 0.95/30 CZ0001004477 70 000 000
04.06.2018 22.06.2018 CZGB 2.50/28 CZ0001003859 60 000 000
04.06.2018 22.06.2018 CZGB 2.50/28 CZ0001003859 150 000 000
12.06.2018 12.07.2018 CZGB 0.25/27 CZ0001005037 694 000 000
13.06.2018 25.06.2018 CZGB 2.50/28 CZ0001003859 105 000 000
19.06.2018 17.08.2018 CZGB 3.85/21 CZ0001002851 211 000 000
20.06.2018 20.07.2018 CZGB 2.50/28 CZ0001003859 210 000 000
22.06.2018 22.08.2018 CZGB 5.70/24 CZ0001002547 95 000 000

Updated: 22.06.2018

REVERSE Repo Transactions
Settlement Date Expiration Date Issue Name ISIN Collateral

Updated: