The nominal value outstanding of government bonds at the end of November stood at €116.7 billion, according to Central Bank data. This is an increase of €3.699 million versus the previous month.

Credit institutions and the Central Bank accounted for 91 per cent of these holdings.

The Central Bank attributed the monthly increase to the issuance of a new bond in November.

It said that 14 per cent of outstanding government bonds in November were due to mature in less than three years with 30 per cent maturing within the next five years.

The resident non-bank financial sector reported holdings of €2.7 billion in November of which holdings by other financial intermediaries stood at €991 million.