The Ministry of Finance informs that in 2017 following transactions were concluded on the financial market:
- Interest Rate Swap Transactions (IRS) in domestic currency,
- Interest Rate Swap Transaction (IRS) in EUR
- Exchange of foreign currency.
Interest rate swap transactions had maturity up to 1 year and their notional amount was PLN 40.0bn. The aim of these transactions was to distribute debt servicing costs over the time within the years 2017-2018. As a result of concluded transactions debt servicing costs in 2017 has risen and in 2018 has decreased by PLN 2.1bn. Transactions were concluded without generating market risk. Settlement of transactions was undertaken according to Eurostat's guidelines and methodology. Information about transactions were included in the fiscal notification for 2017 delivered to the European Commission.
As a result of IRS transaction amounted to EUR 0.3bn with 2y maturity Ministry of Finance will receive payments based on floating rate on a quarterly basis and receive fixed yearly payments as well.
In 2017, as in previous years, Ministry of Finance exchanged foreign currencies on the financial market and in the central bank. Total exchange on the financial markets amounted to equivalent of EUR 2.3bn.