The Swedish Nuclear Waste Fund (KAF), the Premium Pension Authority (PPM) and the Deposit Guarantee Board (IGN) have had assets placed in accounts with the Swedish National Debt Office. Today, July 1, 2002, they are transferred into Treasury bonds, in line with a decision by the Swedish Parliament and Government.
The Debt Office' outstanding stock of nominal and inflation-linked bonds increases by this transfer by about SEK 39 billion in total. The stock of inflation-linked bonds increases by about SEK 32 billion and at the same time the duration is prolonged by about 0.6 years.
The transferred assets will be included in the monthly report of the Swedish Central Government Debt for July 31, to be published on August 7, 2002.
Table 1. Assets as of July 1, 2002 that will be managed by IGN, KAF and PPM, outstanding discounted amount, SEK billion.
|
|
IGN |
KAF |
PPM |
Total |
|
|
Spot and short term accounts |
3,4 |
2,9 |
23,4 |
29,7 |
|
|
Nominal government bonds |
7,4 |
|
|
7,4 |
|
|
Inflation-linked govt. bonds |
|
23,6 |
8,1 |
31,7 |
|
|
Sum government bonds |
7,4 |
23,6 |
8,1 |
39,1 |
|
|
Sum |
10,8 |
26,5 |
31,5 |
68,8 |
|
The outstanding stock of nominal bonds is only marginally affected. Outstanding volumes have increased somewhat and in terms of duration the effect has been minor.
The outstanding nominal (non-inflation accrued) stock of inflation-linked bonds increases by about SEK 34 billion or about 30 percent. The effect on each loan varies, as displayed in the table below:
Table 2. Inflation-linked government bonds as of May 31, 2002, excluding and including the inflation-linked assets received by KAF and PPM, outstanding face values, SEK billion.
|
|
Outstanding loans |
Outstanding loans incl. the transfer |
Change | ||
|
3002 |
5,7 |
5,7 |
|
0 |
|
|
3101 |
31,8 |
35,7 |
|
3,9 |
|
|
3001 |
11,2 |
20,7 |
|
9,5 |
|
|
3105 |
26,6 |
31,3 |
|
4,7 |
|
|
3102 |
12,2 |
20,9 |
|
8,7 |
|
|
3104 |
15,2 |
22,4 |
|
7,3 |
|
|
Sum |
102,7 |
136,7 |
|
34,1 |
|