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NBU Depository: Since Full-Scale Invasion through Late 2022, Ukraine’s Government Borrows an Equivalent of UAH 252 Billion through Auctions to Sell Domestic Government Debt Securities

NBU Depository: Since Full-Scale Invasion through Late 2022, Ukraine’s Government Borrows an Equivalent of UAH 252 Billion through Auctions to Sell Domestic Government Debt Securities

According to the NBU Depository, since russia launched its full-scale invasion of Ukraine through the end of 2022, the government raised UAH 152,390.6 million, USD 1,929.0 million, and EUR 977.3 million from placement of domestic government debt securities through auctions and allocated UAH 213,337.7 million, USD 2,793.3 million, and EUR 662.6 million for redemption of domestic government debt securities. 

In March, September, and November the government raised larger amount than it  spent to redeem domestic debt bonds. However, from April through August, in October, and in December, the government repaid more than borrowed in the domestic debt market, in particular, by UAH 15,441.5 million last month.

Over the period under martial law, the Ministry of Finance increased the interest rates on a number of hryvnia domestic government debt securities, with the maximum yield reaching 19.5%  p.a., and on a number of U.S. dollar domestic government debt securities, with the maximum yield being 4.5%  p.a., and on euro war bonds, with the maximum yield of 3% p.a.

Today, everyone can purchase war bonds and strengthen the financial defense of Ukraine.

Find below detailed statistics by NBU Depository on war bonds offered through auctions, as of 1 January 2023.

Primary dealers – banks – hold the largest portfolio of war bonds.

The second-large portfolio of war bonds is held by Ukrainians and domestic businesses. It comprises  

  • UAH 20,248.8 million or 20.2% of the total value of purchased hryvnia-denominated war bonds (UAH 19,590.9 million or 20.0% as of 26 December)
  • USD 300.5 million or 29.1% of the total value of U.S. dollar-denominated war bonds (USD 286.6 million or 25.8% as of 26 December)
  • EUR 86.8 million or 17.3% of the total value of euro-denominated war bonds (EUR 86.7 million or 17.3% as of 26 December).

Nonresidents hold over UAH 2,681.9 million and USD 9 million in war bonds.     

On 29 December 2022, the Ministry of Finance redeemed USD 352.5 million on U.S. dollar war bonds. 

Find out more about the military domestic government debt securities here. The table presents data at the amortized face value.

Please note that in 2023 the NBU will publish releases with information about sales and redemptions of domestic government debt securities once per month (as of the first day of every month).

Meanwhile, the data in the Market of Domestic Government Debt Securities section will be updated daily, as before.

For Reference

On 22 March 2022, the NBU began to publish weekly statistics of the NBU Depository related to war bond transactions. Previous data are available by tag war bonds

Differences between the amounts raised in auctions to sell war bonds and redemptions on domestic debt instruments are presented in U.S. dollar equivalent at the NBU’s official exchange rates.

 

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