財務省は2012年に債券の利息の減少で1000万ドルを節約します
The Treasury will save 1,000 million with the reduction of interest on bonds in 2012
The lowering of interest rates in 2012 allows saving about 1,000 million
El Tesoro se ahorra 1.000 millones con la rebaja de los intereses de bonos en 2012
La rebaja de los tipos de interés en 2012 permite una ahorro de unos 1.000 millones
Los extranjeros reducen su volumen de bonos españoles
El Tesoro se plantea otra emisión sindicada a 15 años
La deuda de España supera la media de la UE por primera vez
Amanda Mars Madrid 22 MAY 2013 - 13:56 CET
The Treasury will save 1,000 million with the reduction of interest on bonds in 2012
The lowering of interest rates in 2012 allows saving about 1,000 million
Foreigners reduced their volume of Spanish bonds
The Treasury raises another issue is syndicated to 15 years
Spain's debt exceeds the EU average for the first time
Amanda Mars Madrid 22 MAY 2013 - 13:56 CET
Spanish banks have become the second largest investor group in Spanish government debt to increase its portfolio of 91,300 million letters, notes and bonds, which gives it a pinch of 14.5% of total liabilities of state and means to overcome institutional investors are pension funds, investment and insurance.
The European Central Bank (ECB) has much to do in this sorpasso, and already been the major financier of Spanish institutions in 2012 and these, to get those credits, leave Spanish bonds as collateral. In addition, injections of liquidity in late 2011 and early last year also went largely to public debt that pays a high return. The monetary easing, however, do not result in credit to businesses and households.
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Neither foreign demand has reinforced its commitment to Spanish debt in 2012 and has reduced its portfolio 57,000 million, to end the year at about 224,000 million, 35% of the total. This is still the main customer, but its weight has been reduced by 10 points since 2010.
This increased liquidity has allowed soften interest rates that the Treasury has paid their debt issues, namely, the average rate has dropped by 50 basis points (or 0.5 percentage points), which translated to euros constants and sounding, has saved about 1,000 million euros. The continued improvement in going from 2013, which has seen reduce the rates of 3.01% and 2.68% and has reduced spending about 300 million.
Data are from Memory Debt Market this Wednesday presented the Bank of Spain. The Treasury deputy, Ignacio Fernandez, explained in presenting the body arises weigh out a new syndicated issue even within 15 years as well as "keep exploring alternatives like dollar emissions", with a new operation before end of the year 6,000 to 6,500 million.
In overall, net issuance of State (the difference between the debt that is issued and expiring) rose by 13.7% last year, reaching 60.945 million, while gross loans increased by 6.6%, up to 212,854,000. The secondary market for the sale of securities already issued to investors, down 23%.
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