During the first half of 2011, foreign investor’s purchases of Dutch-issued debt certificates ran to EUR 58 billion (see Chart). Unlike in 2008, however, much of the debt paper sold abroad in the first half of 2011 was issued by Dutch banks. In all, during this period, Dutch banks issued EUR 59 billion in new debt certificates, the bulk of which ended up in foreign hands. Partly on account of this, total foreign holdings of Dutch paper grew to EUR 840 billion by mid-2011. Over half of this amount was issued by the Dutch banking sector. Thus some 85 per cent of Dutch bank-issued debt certificates now resides in foreign investment portfolios, compared to some 65 per cent of all Dutch-issued paper.
Brisk foreign demand for Dutch debt certificates
- Statistical News Release
Date 19 September 2011
During the second quarter of 2011, foreign investors bought EUR 35 billion worth of Dutch debt certificates. This is shown by the balance of payments statistics published today by de Nederlandsche Bank (DNB). Only during the fourth quarter of 2008, when the Dutch Government had to finance the takeover of Fortis Nederland at the peak of the financial crisis, did DNB record larger foreign purchases (almost EUR 40 billion).