Table G8a Interest rates on MoF treasury bills
Table G8a shows the weighted monthly averages of daily interest rates achieved at auctions of treasury bills of the Ministry of Finance of the Republic of Croatia. Daily interest rates correspond to the single yield at issue attained at auctions of MoF treasury bills.
Annual averages are a simple average of the weighted monthly averages.
The weighted monthly averages of daily interest rates are calculated separately for treasury bills denominated in kuna and for treasury bills indexed to euro, and separately for each original contractual maturity (91, 182 or 364 days).
Table G8b Yields to maturity on the bonds of the Republic of Croatia, for selected currencies and maturities
Table G8b shows the average monthly and annual yields to maturity on the bonds of the Republic of Croatia, for selected currencies and maturities.
The average monthly yields to maturity are a simple average of daily yields to maturity.
The average annual yields are a simple average of monthly averages.
Daily yields are calculated for each remaining maturity (rounded to the whole number of years) in such a way that bonds are first grouped according to the remaining maturity, and then a simple average is calculated for each group. The remaining maturity of a bond on a certain day is calculated as a rounded number (interval t–0.5 to t+0.5), assuming a year of 365 days.
The applied methodology differs somewhat depending on the market in which bonds are issued, i.e. the Republic of Croatia or foreign capital markets, and depending on the availability of data for the calculation of yields to maturity.
- Bonds issued in the domestic capital market
Daily yields to maturity are calculated on the basis of the weighted average of the average trading price attained in all trading segments of the Zagreb Stock Exchange.
Daily yields are also calculated for days when there are no trading transactions, assuming that the most recent average price remains unchanged.
Daily yields are not calculated for days which are public holidays in the Republic of Croatia.
- Bonds issued in foreign capital markets
Daily yields to maturity are taken from the Bloomberg financial service, and are calculated on the basis of daily data on the most recent quoted bid price.
The calculation of the average monthly yield does not account for days for which data on daily yields are not available.