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BdP bought 3.6 billion euros in national public debt

22 MAI 2024
Themen
Bancos Fundos de Investimento Portugal Despesas Poupanças
The Bank of Portugal carried out more than 600 transactions in 2023, according to the Monetary Policy Implementation Report.
BdP bought 3.6 billion euros in national public debt
Source: Freepik
Author: Redaction

The Bank of Portugal (BdP) released its Monetary Policy Implementation Report on Monday 20th May. Despite being less active in the market, it carried out more than 600 transactions through the purchase of Portuguese public debt securities.

Despite this record, the national public bond portfolio shrank by 3.7 billion euros, with part of this reduction falling on Savings Certificates.

As the report from the central bank, headed by Mário Centeno, points out, "the Bank of Portugal was active in the purchase of Portuguese public debt securities for the PSPP [Public Sector Purchase Programme] and PEPP [Pandemic Emergency Purchase Programme] throughout the year, with 637 transactions having been carried out with 19 financial institutions and 3.6 billion euros of Portuguese public debt securities having been purchased in gross terms".

Net purchases, despite these transactions, fell into the negative, standing at 3.7 million euros, i.e. 1.5 billion less in the PSPP and 2.2 billion less in the PEPP, reversing the positive trend in net purchases recorded in 2022, of 3.1 billion euros.

Regarding the reduction in national public debt securities portfolios, the BdP indicates that this is due to the maturity of a line of Treasury Bonds in October, but also to "the fact that reinvestments were not fully realised", due to the reduced liquidity conditions in the Portuguese debt market.

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Bancos Fundos de Investimento Portugal Despesas Poupanças
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