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Annual Report of the Treasury for the Year Ended 30 June 2012

New Zealand Debt Management Office

NZDMO is part of the New Zealand Treasury and is responsible for the efficient management of the Crown's debt and associated assets within an appropriate risk management framework. NZDMO's strategic objective is to maximise the long-term economic return on the Crown's financial assets and debt in the context of the Government's fiscal strategy, particularly its aversion to risk.

NZDMO's major responsibilities involve:

  • financing the Crown's borrowing requirement and managing a portfolio of assets and liabilities
  • disbursing cash to departments
  • advancing funds to government entities in accordance with government policy, and
  • providing capital markets services and derivative transactions for departments and Crown entities.

NZDMO managed $26.062 billion of assets, $83.120 billion of liabilities, $500 million of revenue and $3.158 billion of expenses on behalf of the Crown for the year ended 30 June 2012. Further information on NZDMO's performance in managing the Crown's sovereign-issued debt and related financial assets is provided on pages 43 and 48 to 50.

To facilitate a greater level of transparency regarding NZDMO operations, the following supplementary financial schedules report the activity of NZDMO as though it were a stand-alone entity. Cross-holdings or other financial positions between NZDMO and other government entities are not eliminated. The financial information reported in these schedules is consolidated into the Crown Financial Statements.

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