Securities

Securities

Published: 30/6/2016

For the purposes of this statistics, 'securities' means debt securities, equity securities and investment fund shares/units.

Securities statistics collects data on:

  • issues of the securities of resident issuers (in domestic and international capital markets), excluding investment funds' shares/units;
  • holdings (purchase and sale) of resident issuers' securities, excluding investment funds' shares/units; and
  • residents' holdings (purchase and sale) (excluding CNB) of non-resident securities, including non-resident investment fund shares/units, where ownership relationship equals or exceeds 10% of the issued share capital (portfolio investments) does not exist.    

Methodology - securities

Methodology - securities

Published: 30/6/2016

The Croatian National Bank's investments in securities are not within the scope of securities statistics. However, the issues of negotiable debt securities of the Croatian National Bank would be covered by this statistics. The issued shares/units of resident investment funds as well as investments in ownership-related non-resident joint stock companies are not covered by securities statistics data, but are monitored within separate investment funds' statistics (Tables E1 and E2 of the Statistical survey), i.e. direct investment statistics (Table H4 of the Statistical survey).

Securities statistics shows repo transactions as direct purchase and sale transactions (except regular and structural reverse repo transactions of the CNB), changing the investor in the security. Although the above does not completely comply with statistic standards, in the absence of a detailed statistics of repo transactions (at the level of the ISIN and the investor), consistency of data on investment in securities issued in the domestic market is maintained in this way and the total amount of the securities issue is allocated by investor at all times.

Debt and equity securities issues tables are available from 31 December 2011, while debt and equity securities holdings tables are available from 31 December 2013. Namely, from December 2013 custodian data showing investor distribution on the password protected custody accounts for which end investor data are unknown to the CDCC are available.

The investor distribution for resident debt securities issued in international capital markets is based on data on residents' investments from all available statistics (monetary statistics, pension and investment fund statistics, insurance corporation statistics and the reports of RC custodians). In the absence of additional information, the part of investment not allocated to resident investors is attributed to the investors of the country of the market in which the security is issued/quoted (Luxembourg).

Investments by international financial institutions in securities issued in the RC are shown according to the country in which the institution has its head office (for instance, EBRD's investments are shown under UK residents' investments).

The data on residents' investments in the securities of non-resident issuers in international capital markets are available from 31 December 2013.

The currency of issue is the currency in which the payment liability is denominated. In the event of the issue of bonds denominated in the euro payable in kuna (currency clause), the euro is the currency of issue.

The market valuation of investments in securities implies the valuation by using the available market prices from the Zagreb Stock Exchange, for securities issued in the domestic capital market, i.e. by using other available sources, primarily the Centralised Securities Database (CSDB) of the European Central Bank, for securities issued in international capital markets.  When the market price for a specific security is not available, it is valued at nominal value.

Table VP1: Outstanding amounts of issued debt securities by sector of the issuer
The table shows the gross nominal outstanding amounts of issued resident debt securities broken down by the market of issue and by the institutional sector of the issuer. In addition, for specific institutional sectors, positions are also broken down by the original maturity and by the currency of issue. Debt securities issued abroad are only presented for institutional sectors which had foreign issues. The gross position of issued debt securities, on the specific date, includes outstanding principal and the stock of accrued interest. The position is shown in million HRK at the CNB’s midpoint exchange rate at the end of the period.

Table VP2:   Debt securities issues by sector of the issuer
The table shows the nominal amounts of resident debt securities issues during the observed period. Issues are broken down by the market of issue and by the institutional sector of the issuer. In addition, for specific institutional sectors, transactions are also broken down by the original maturity and by the currency of issue. Issues represent cumulative of gross issued principal amounts during the observed reporting period (month, quarter or year). The issues are shown in million HRK at the CNB’s midpoint exchange rate.

Table VP3: Net transactions in debt securities by sector of the issuer
The table shows the nominal net transactions in resident debt securities during the observed period. Transactions are broken down by the market of issue and by the institutional sector of the issuer. In addition, for specific institutional sectors, transactions are also broken down by the original maturity and by the currency of issue. Net transactions represent cumulative of the sum of differences in the issued and repaid principal amounts and cumulated and paid interest during the observed reporting period (month, quarter or year). Transactions are shown in million HRK at the CNB’s midpoint exchange rate.

Table VP4: Holdings of debt securities by sector of the investor 
The table shows gross market holdings of debt securities issued by residents and resident holdings in non-resident debt securities (in domestic and international capital markets). Investments are broken down by the residency of the issuer and by the institutional sector of the resident investor. In addition, for specific investor's institutional sectors, investments in debt securities of resident issuers are also broken down by the original maturity and the currency of issue. The gross market position of issued debt securities includes the outstanding principal and the stock of accrued interest on the position date. The position is shown in million HRK at the CNB’s midpoint exchange rate at the end of the period.

Table VP5: Holdings of debt securities by sector of the investor and by sector of the issuer 
The table shows the gross market holdings of debt securities in million HRK at the CNB’s midpoint exchange rate at the end of the period. The position is presented on a from-whom-to-whom basis. The row and column cross-section in the table shows holdings of a specific investor in debt securities of a specific issuer. For resident issuers/investors, the position is additionally broken down by the institutional sector of the issuer/investor. For non-resident issuers/investors, the position is additionally broken down by the country of residency. 

Table VP6: Outstanding amounts of issued equity securities by sector of the issuer
The table shows the positions of equity securities issued by residents. The position is presented separately for quoted (market valuation) and unquoted (nominal valuation) securities and broken down further by the institutional sector of the issuer and by type of the issued equity security (preferential or ordinary shares). The position is shown in million HRK.

Table VP7: Equity securities issues by sector of the issuer
The table shows issues of equity securities during the observed period in million HRK. Transactions are presented separately for quoted (market valuation) and unquoted (nominal valuation) securities and broken down further by the institutional sector of the issuer and by the type of the equity security issued (preferential or ordinary shares). Transactions represent cumulative issues during the observed reporting period (month, quarter or year).

Table VP8: Net transactions in equity securities by sector of the issuer
The table shows net transactions in equity during the observed period in million HRK. Transactions are presented separately for quoted (market valuation) and unquoted (nominal valuation) securities and broken down further by the institutional sector of the issuer and by type of the issued equity security (preferential or ordinary shares). Transactions represent cumulative net issues (issues minus redemptions) during the observed reporting period (month, quarter or year).

Table VP9: Holdings of equity securities by sector of the investor 
The table shows the holdings of resident equity securities and the resident holdings in non-resident equity securities. Investments are broken down by residency of the security issuer and by the existence of ownership relationship with the issuer of the security. Investments are further broken down by the resident investor's institutional sector and presented separately for quoted (market valuation) and unquoted (nominal valuation) equity securities. Investments in non-resident equity securities comprise only portfolio investments in which ownership relationship between the investor and the issuer does not exist. Ownership relationship exists in corporations in which the investor holds 10% or more of equity. The position is shown in million HRK at the CNB’s midpoint exchange rate at the end of the period.

Table VP10: Holdings of equity securities by sector of the investor and by sector of the issuer
The table shows the holdings of equity securities in million HRK at the CNB’s midpoint exchange rate at the end of the period. The position is shown on a from-whom-to-whom basis. The row and the column cross-section in the table shows the holdings of a specific investor in equity securities/shares/units in investment funds of a specific issuer. For resident issuers/investors, the position is further broken down by the institutional sector of the issuer/investor. For non-resident issuers/investors, the position is further broken down by the country of residency. For all securities for which the market price is available, market valuation is used; otherwise, nominal valuation is applied.