Ministry's operations 2021

Department 20 – Management of National Debt and Financial Assets
Department 20 – Management of National Debt and Financial Assets

Published

  • Secondary Market
  • T-Bonds
  • State Debt
Updated 9-4-2021

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 and Recognized 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 p.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 p.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 and Recognized 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 and Recognized 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 and Recognized 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, the Primary Dealers and Recognized 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 or Recognized Dealer, but is not obligated to accept any Primary Dealer's or Recognized 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 and Recognized 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.

Reverse repo operations are the most common instrument used for the purposes of cash management of the treasury single account. Reverse 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 and T-Bills 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
26.1.2021 CZGB 0.45/23 CZ0001004600 250 000 000 100.185 1
26.1.2021 CZGB VAR/27 CZ0001004105 500 000 000 100.025 1
26.1.2021 CZGB 2.00/33 CZ0001005243 729 770 000 107.105 3
2.2.2021 CZGB 0.45/23 CZ0001004600 300 000 000 100.075 1
2.2.2021 CZGB VAR/27 CZ0001004105 650 000 000 99.970 1
3.2.2021 CZGB VAR/27 CZ0001004105 500 000 000 99.900 1
5.2.2021 CZGB 0.45/23 CZ0001004600 300 000 000 99.980 1
5.2.2021 CZGB 1.00/26 CZ0001004469 300 000 000 99.965 1
9.2.2021 CZGB 1.00/26 CZ0001004469 1 000 000 000 99.550 1
9.2.2021 CZGB 2.00/33 CZ0001005243 500 000 000 105.300 1
16.2.2021 CZGB 0.05/29 CZ0001006076 1 950 000 000 88.500 4
23.2.2021 CZGB 0.45/23 CZ0001004600 1 200 000 000 98.860 2
23.2.2021 CZGB 0.120/31 CZ0001005888 400 000 000 96.700 2
23.2.2021 CZGB 4.20/36 CZ0001001796 250 000 000 135.505 2
24.2.2021 CZGB 0.45/23 CZ0001004600 3 800 000 000 98.810 4
2.3.2021 CZGB 0.45/23 CZ0001004600 10 400 000 000 98.660 4
2.3.2021 CZGB 1.00/26 CZ0001004469 250 000 000 98.260 2
2.3.2021 CZGB 2.50/28 CZ0001003859 450 000 000 107.100 3
2.3.2021 CZGB 4.85/57 CZ0001002059 50 000 000 152.260 1
10.3.2021 CZGB 0.10/22 CZ0001005946 7 500 000 000 99.400 2
10.3.2021 CZGB 1.00/26 CZ0001004469 1 583 000 000 97.320  4
10.3.2021 CZGB 2.50/28 CZ0001003859 1 200 000 000 105.800 3
12.3.2021 CZGB 0.10/22 CZ0001005946 16 900 000 000 99.400 4
12.3.2021 CZGB 2.50/28 CZ0001003859 2 150 000 000 105.850 2
16.3.2021 CZGB 0.10/22 CZ0001005946 18 335 000 000 99.400 1
16.3.2021 CZGB 2.50/28 CZ0001003859 500 000 000 105.845 1
23.3.2021 CZGB 0.10/22 CZ0001005946 832 400 000 99.470 1
23.3.2021 CZGB 0.45/23 CZ0001004600 69 460 000 98.650 1
23.3.2021 CZGB 1.00/26 CZ0001004469 3 020 000 000 96.880 4
23.3.2021 CZGB 4.20/36 CZ0001001796 1 430 000 000 127.170 5
23.3.2021 CZGB 4.85/57 CZ0001002059 100 000 000 146.250 1
9.4.2021 CZGB 0.00/24 CZ0001006167 3 455 000 000 95.620 4
9.4.2021 CZGB 2.75/29 CZ0001005375 3 300 000 000 107.260 7
9.4.2021 CZGB 4.20/36 CZ0001001796 1 150 000 000 127.260 2
9.4.2021 CZGB 1.50/40 CZ0001005920 980 000 000 86.710 4
13.4.2021 CZGB 0.00/24 CZ0001006167 1 045 000 000 95.650 4
13.4.2021 CZGB 0.05/29 CZ0001006076 1 500 000 000 86.020 2
13.4.2021 CZGB 2.00/33 CZ0001005243 500 000 000 99.700  2

Updated: 9.4.2021

SWITCH AUCTIONs
Settlement Date Issuance Buy-back
Issue Name Nominal Amount (CZK) Average Price Issue Name Nominal Amount (CZK) Average Price
11.1.2021 CZGB 1.25/25 1 405 420 000 102.125 CZGB 3.85/21 1 405 420 000 102.720
11.1.2021 CZGB 2.00/33 100 000 000 107.301 CZGB 3.85/21 100 000 000 102.720
12.1.2021 CZGB 1.50/40 200 000 000 98.115 CZGB 3.85/21 200 000 000 102.710
22.1.2021 CZGB 1.00/26 700 000 000 100.615 CZGB 3.85/21 700 000 000 102.605
22.1.2021 CZGB 2.00/33 50 000 000 107.065 CZGB 3.85/21 50 000 000 102.605
22.1.2021 CZGB 1.50/40 150 000 000 97.380 CZGB 3.85/21 150 000 000 102.605
26.1.2021 CZGB 0.05/29 800 000 000 90.390 CZGB 3.85/21 800 000 000 102.563
2.2.2021 CZGB 1.00/26 300 000 000 100.250 CZGB 3.85/21 300 000 000 102.500
3.2.2021 CZGB 1.00/26 300 000 000 100.065 CZGB 3.85/21 300 000 000 102.489
3.2.2021 CZGB 0.05/29 500 000 000 89.565 CZGB 3.85/21 500 000 000 102.489
5.2.2021 CZGB 1.50/40 300 000 000 96.300 CZGB 3.85/21 300 000 000 102.468
9.2.2021 CZGB 0.05/29 500 000 000 88.945 CZGB 3.85/21 500 000 000 102.426
 16.2.2021 CZGB 1.20/31 1050 000 000   97.260 CZGB 3.85/21 1050 000 000  102.352 
 16.2.2021 CZGB 0.00/24 500 000 000  96.655 CZGB 3.85/21 500 000 000  102.352
23.2.2021 CZGB 1.00/26 150 000 000 98.658 CZGB 3.85/21 150 000 000 102.278
23.2.2021 CZGB 0.05/29  150 000 000 88.008 CZGB 3.85/21 150 000 000 102.278
23.2.2021 CZGB 4.20/36 500 000 000 135.408 CZGB 3.85/21 500 000 000 102.278
23.2.2021 CZGB 1.50/40 100 000 000  93.905 CZGB 3.85/21 100 000 000  102.278
12.3.2021 CZGB 1.20/31 900 000 000 93.750 CZGB 3.85/21 900 000 000 102.050
12.3.2021 CZGB 4.20/36 750 000 000 93.750 CZGB 3.85/21 750 000 000 102.050
31.3.2021 CZGB 2.50/28 585 000 000 105.050 CZGB 3.85/21 585 000 000 101.830
31.3.2021 CZGB 0.95/30 534 000 000 92.250 CZGB 3.85/21 534 000 000 101.830
31.3.2021 CZGB 4.20/36 560 000 000 127.250 CZGB 3.85/21 560 000 000 101.830
31.3.2021 CZGB 1.50/40 300 000 000 86.920 CZGB 3.85/21 300 000 000  101.830

Updated: 29.3.2021

LENDING FACILITY - REPO transactions
Settlement Date Expiration Date Issue Name ISIN Nominal Amount (CZK)

Updated:

 

LENDING FACILITY - LOANS OF SECURITIES
Settlement Date Expiration Date Issue Name ISIN Nominal Amount (CZK)
6.1.2021 13.1.2021 CZGB 0.75/21 CZ0001005367 180 000 000
6.1.2021 5.2.2021 CZGB 1.50/40 CZ0001005920 50 000 000
18.1.2021 18.2.2021 CZGB 3.85/21 CZ0001002851 3 600 000 000
18.1.2021 18.2.2021 CZGB 0.05/29 CZ0001006076 3 000 000 000
18.1.2021 18.2.2021 CZGB 1.50/40 CZ0001005920 600 000 000
22.1.2021 22.3.2021 CZGB 4.20/36 CZ0001001796 150 000 000
25.1.2021 25.2.2021 CZGB 3.85/21 CZ0001002851 1 800 000 000
27.1.2021 24.3.2021 CZGB 4.20/36 CZ0001001796 50 000 000
29.1.2021 1.3.2021 CZGB 4.20/36 CZ0001001796 100 000 000
1.2.2021 1.3.2021 CZGB 1.50/40 CZ0001005920 420 000 000
15.2.2021 17.3.2021 CZGB 1.50/40 CZ0001005920 400 000 000
18.2.2021 18.3.2021 CZGB 1.50/40 CZ0001005920 135 000 000
18.2.2021 18.3.2021 CZGB 3.85/21 CZ0001002851 3 600 000 000
18.2.2021 18.3.2021 CZGB 0.05/29 CZ0001006076 1 250 000 000
23.2.2021 23.4.2021 CZGB 4.20/36 CZ0001001796 400 000 000
24.2.2021 24.3.2021 CZGB 1.50/40 CZ0001005920 350 000 000
25.2.2021 25.3.2021  CZGB 3.85/21 CZ0001002851 1 800 000 000
26.2.2021 26.3.2021 CZGB 1.50/40  CZ0001005920  400 000 000
3.3.2021 6.4.2021 CZGB 1.50/40 CZ0001005920 100 000 000
12.3.2021 12.4.2021 CZGB 3.85/21 CZ0001002851 400 000 000
12.3.2021 9.4.2021 CZGB 3.85/21 CZ0001002851  500 000 000
18.3.2021 19.4.2021 CZGB 3.85/21 CZ0001002851 3 600 000 000
18.3.2021 19.4.2021 CZGB 1.50/40 CZ0001005920 100 000 000
24.3.2021 26.4.2021 CZGB 1.50/40 CZ0001005920 100 000 000
25.3.2021 26.4.2021 CZGB 3.85/21 CZ0001002851 1 700 000 000
26.3.2021 26.4.2021 CZGB 1.50/40 CZ0001005920 450 000 000
29.3.2021 29.4.2021 CZGB 2.00/33 CZ0001005243 500 000 000
6.4.2021 4.5.2021 CZGB 1.50/40 CZ0001005920 200 000 000

Updated: 6.4.2021