Guidelines for central government debt management in 2018

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The guidelines decision for 2018 extends the maturity of the nominal krona debt slightly. This reduces the future cost variation of the central government debt and can be done at a low cost since term premiums are still low. Technical changes are also made to the maturity steering of the nominal krona debt. The previous volume benchmark is removed and replaced by a maturity interval for the whole of the nominal
krona debt.

The steering of the maturity of the other types of debt is left unchanged, as is the steering of the composition of the central government
debt.

The maturity (in terms of duration) of the three
types of debt is to be steered towards

  • Foreign currency debt: 0‒1 years
  • Inflation-linked krona debt: 6–9 years
  • Nominal krona debt: 4.3–5.5 years.

The composition of the central government debt is
to be steered towards:

  • Foreign currency debt: A reduction of up to SEK 30 billion per year
  • Inflation-linked krona debt: 20 per cent (in the long term)
  • The nominal krona debt is to make up the remaining share.