|
Danish government securities are issued to and bought back from banks that have entered into primary dealer contracts. Government Debt Management has concluded primary dealer contracts for government bonds and T-bills respectively.
Danish government bonds are issued via auctions supplemented with tap sales. The opening sale of securities takes place via auction. Danish T-bills are issued via auctions. As a general rule auctions in T-bills will be held at the penultimate business date of the month. There are three types of Key on-the-run issues: Government bonds (4 bonds), inflation-linked government bonds (one) and Treasury bills (3 bills). At end-2012, the central-government debt amounted to kr. 487 billion, corresponding to 27 per cent of GDP or kr. 87,000 per capita, cf. Chart 1. Despite the increase, Denmark's debt remains low compared with that of other EU member states, and Danish government bonds are still enjoying the highest ratings from the credit rating agencies. |
