Ministry's operations 2022

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 5-8-2022

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: 5.8.2022

 

Tap Sales
Settlement Date Issue Name ISIN Nominal Amount (CZK) Average Price Number of Counterparties
19.1.2022 CZGB 1.75/32 CZ0001006233 1 450 000 000 88.500 3
19.1.2022 CZGB 1.50/40 CZ0001005920 500 000 000 76.650 2
2.2.2022 CZGB 1.50/40 CZ0001005920 250 000 000 75.200 1
18.2.2022 CZGB 1.50/40 CZ0001005920 300 000 000 77.400 3
21.2.2022 CZGB 1.95/37 CZ0001006316 1 450 000 000 86.320 3
22.2.2022 CZGB 1.50/40 CZ0001005920 1 100 000 000 77.700 4
3.3.2022 CZGB 1.75/32 CZ0001006233 1 500 000 000 89.891 2
4.3.2022 CZGB 1.95/37 CZ0001006316 1 600 000 000 86.000 3
7.3.2022 CZGB 2.75/29 CZ0001005375 480 000 000 97.700 2
8.3.2022 CZGB 1.75/32 CZ0001006233 3 150 000 000 89.000 4
4.4.2022 CZGB 3.50/35 CZ0001006431 1 685 000 000 97.200 4
5.4.2022 CZGB 3.50/35 CZ0001006431 270 000 000 97.200 2
6.4.2022 CZGB 3.50/35 CZ0001006431 1 400 000 000 97.200 3
26.4.2022 CZGB 6.00/26 CZ0001006506 1 300 000 000 103.750 2
26.4.2022 CZGB VAR/31 CZ0001006241 1 000 000 000 101.050 1
28.4.2022 CZGB 3.50/35 CZ0001006431 750 000 000 92.700 2
5.5.2022 CZGB 6.00/26 CZ0001006506 1 800 000 000 103.540 4
10.5.2022 CZGB 6.00/26 CZ0001006506 1 500 000 000 101.900 2
10.5.2022 CZGB 3.50/35 CZ0001006431 150 000 000 90.060 1
16.5.2022 CZGB 3.50/35 CZ0001006431 500 000 000 85.978 1
17.5.2022 CZGB 6.00/26 CZ0001006506 1 700 000 000 101.909 3
18.5.2022 CZGB 6.00/26 CZ0001006506 1 200 000 000 101.909 3
19.5.2022 CZGB 6.00/26 CZ0001006506 616 760 000 102.070 2
9.6.2022 CZGB VAR/31 CZ0001006241 1 544 000 000 100.440 2
27.6.2022 CZGB 6.00/26 CZ0001006506 3 429 000 000 100.450 2
28.6.2022 CZGB 3.50/35 CZ0001006431 1 050 000 000 87.010 2
1.7.2022 EUR CZGB 0.00/24 II CZ0001006480 256 800 000 EUR 94.426 3
11.7.2022 CZGB 3.50/35 CZ0001006431 1 575 000 000 90.050 5
12.7.2022 CZGB 2.00/33 CZ0001005243 230 000 000 78.400 2
12.7.2022 CZGB 3.50/35 CZ0001006431 1 550 000 000 90.100 4

Updated: 5.8.2022

SWITCH AUCTIONs
Settlement Date Issuance Buy-back
Issue Name Nominal Amount (CZK) Average Price Issue Name Nominal Amount (CZK) Average Price
             

Updated: 5.8.2022

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

Updated: 5.8.2022

 

LENDING FACILITY - LOANS OF SECURITIES
Settlement Date Expiration Date Issue Name ISIN Nominal Amount (CZK)
13.1.2022 14.2.2022 CZGB 1.50/40 CZ0001005920 127 000 000
18.1.2022 18.2.2022 CZGB 1.50/40 CZ0001005920 170 000 000
19.1.2022 18.2.2022 CZGB 1.50/40 CZ0001005920 100 000 000
20.1.2022 3.2.2022 CZGB 0.00/24 CZ0001006167 50 000 000
24.1.2022 24.2.2022 CZGB 1.50/40 CZ0001005920 100 000 000
2.2.2022 2.3.2022 CZGB 1.50/40 CZ0001005920 950 000 000
16.2.2022 16.3.2022 CZGB 1.50/40 CZ0001005920 200 000 000
24.2.2022 24.3.2022 CZGB 1.50/40 CZ0001005920 100 000 000
2.3.2022 23.3.2022 CZGB 1.50/40 CZ0001005920 200 000 000
14.3.2022 4.4.2022 CZGB 0.00/24 CZ0001006167 250 000 000
28.3.2022 28.4.2022 CZGB 4.20/36 CZ0001001796 1 000 000 000
1.4.2022 22.4.2022 CZGB 2.00/33 CZ0001005243 458 000 000
28.4.2022 30.5.2022 CZGB 4.20/36 CZ0001001796 1 000 000 000
30.5.2022 30.6.2022 CZGB 4.20/36 CZ0001001796 1 000 000 000
30.6.2022 29.7.2022 CZGB 4.20/36 CZ0001001796 1 000 000 000
29.7.2022 29.8.2022 CZGB 4.20/36 CZ0001001796 1 000 000 000

Updated: 5.8.2022