Securities issues statistics
Securities issues statistics
With growing importance of securities markets there is also an increasing need for analyzing of transmission mechanism from the perspective of monetary policy. The objective of Securities issues statistics is to provide information about issued securities as an important part of monetary and financial stability analysis. For borrowers, securities issues are an alternative to "bank finance". Holders of financial assets may view securities issued by "non-banks" as partial substitutes for bank deposits and negotiable instruments issued by banks.
Securities issues statistics at the national level provide aggregates of all issues by our domestic residents in any currency.
Issues are classified according to the sector incurring the liability for the securities issued. Methodology for reporting is regulated by the ECB (http://www.ecb.int/ecb/legal/pdf/l_01620100121en00060047.pdf).
Issues are analyzed under two broad groupings: debt securities and quoted shares. Debt securities are reported at nominal value, quoted shares at market value (transaction value).
Statistics involve information on outstanding amounts (stocks) and flows (i.e. gross issues and net issues).
Primer data are provided according to decrees of the National bank of Slovakia with close cooperation with Central depository of Slovak republic and Stock Exchange Bratislava.
Securities issues statistics for euro area are published on the ECB website (http://www.ecb.int/stats/money/securities/html/index.en.html).
Debt securities
Quoted shares
Long-term interest rates statistics
One of the convergence criteria, stated in Maastricht Treaty, which examine the achievement of the degree of sustainable convergence of four main criteria, is reflected in the long-term interest rate levels. This criterion states in relation to the long-term interest rate levels, that a Member State - observed over a period of one year before the examination - must have an average nominal long-term interest rate that does not exceed by more than two percentage points of that, at most, the three best performing Member States in terms of price stability. The interest rate levels shall be measured on the basis of long-term government bonds or comparable securities, taking into account differences in national definitions. The residual maturity of government bonds should be as close as possible to ten years. Selected government bond should be sufficiently liquid.
The statistical framework for the definition of the long-term interest rates of the pre-ins/accession countries follows closely the principles, which were specified and implemented in close liaison with the European Commission, as part of the preparation of Stage Three of the Economic and Monetary Union for the current EU Member States.
The central banks of accession countries took part in a survey jointly designed by the ECB and the Commission to provide an overview of the respective capital markets and structures, in particular in relation to the bond market and interest rates. This information was presented in the report entitled Bond markets and long-term interest rates in EU accession countries. The report consisted of twelve national chapters, each of which is divided into five sections. The five sections cover the size and activity of the national debt securities markets and interest rates, including bond yields, a description of certain features of individual long-term debt securities issued by the general government and a brief reference to securities market regulation.
Yields to maturity for selected government bonds - time series
Time series 2003 - 2011
Monthly survey on yield to maturity of the 10 years government bond - benchmark
Explanatory notes:
(p) - preliminary data
Statistical data are disseminated and revised according to revision policy.