30. Liabilities from Debt Securities
30a. Debt securities
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| 31.12.2016 | 31.12.2015 | |
|---|---|---|
| Outstanding bonds and bills | 1 030 006 | 828 331 |
| Bank Securities | 279 102 | 301 527 |
| Interest | 4 728 | 4 392 |
| Total | 1 313 836 | 1 134 250 |
30b. Debt securities by final legal maturity
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| 31.12.2016 | 31.12.2015 | |
|---|---|---|
| – to 1 month | 10 072 | 0 |
| – above 1 month to 3 months | 557 158 | 22 288 |
| – above 3 months to 1 year | 103 026 | 124 992 |
| – above 1 year to 5 years | 638 852 | 982 578 |
| – above 5 years | 0 | 0 |
| Interest | 4 728 | 4 392 |
| Total | 1 313 836 | 1 134 250 |
30c. Change of debt securities
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| 01.01.2016 – 31.12.2016 | 01.01.2015 – 31.12.2015 | |
|---|---|---|
| Balance at the beginning of the period | 1 134 250 | 1 739 460 |
| Increases, on account of: | 628 525 | 1 114 847 |
| – issue of Banking Securities | 112 324 | 109 790 |
| – issue of bonds by the Bank | 29 726 | 961 499 |
| – issue of bonds by the Millennium Leasing | 452 600 | 0 |
| – interest accrual | 33 875 | 43 558 |
| Reductions, on account of: | (448 939) | (1 720 057) |
| – repurchase of Banking Securities | (134 750) | (140 708) |
| – repurchase of bonds by the Bank | (29 450) | (1 532 681) |
| – repurchase of bonds by the Millennium Leasing | (251 200) | 0 |
| – interest payment | (33 539) | (46 668) |
| Balance at the end of the period | 1 313 836 | 1 134 250 |
30d. Debt securities by type
Debt securities and banking securities issued by the Bank
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| As at 31.12.2016 | Balance sheet value | Final legal maturity | Market |
|---|---|---|---|
| BPW_2017/01,A | 10 072 | 31.01.2017 | – |
| BPW_2017/02,A | 6 670 | 28.02.2017 | – |
| BPW_2017/03,A | 10 238 | 30.03.2017 | – |
| BPW_2017/04,A,C | 15 567 | 28.04.2017 | – |
| BPW_2017/05 | 5 129 | 30.05.2017 | – |
| BPW_2017/06 | 3 947 | 30.06.2017 | – |
| BPW_2017/07 | 3 467 | 31.07.2017 | – |
| BPW_2017/11 | 5 439 | 30.11.2017 | – |
| BPW_2017/12 | 3 250 | 29.12.2017 | – |
| BPW_2018/01 | 5 141 | 31.01.2018 | – |
| BPW_2018/02 | 5 431 | 27.02.2018 | – |
| BPW_2018/03 | 5 831 | 30.03.2018 | – |
| BPW_2018/04 | 9 021 | 30.04.2018 | – |
| BPW_2018/06,A | 18 642 | 2018-06-01,29 | – |
| BPW_2018/07 | 10 515 | 31.07.2018 | – |
| BPW_2018/08 | 14 886 | 31.08.2018 | – |
| BPW_2018/09 | 14 535 | 28.09.2018 | – |
| BPW_2018/10 | 6 301 | 31.10.2018 | – |
| BPW_2018/11 | 8 403 | 30.11.2018 | – |
| BPW_2019/01,A | 8 221 | 2019-01-03,31 | – |
| BPW_2019/03,A,B | 36 686 | 2019-03-01,29 | – |
| BPW_2019/04,A | 18 377 | 30.04.2019 | – |
| BPW_2019/05 | 12 805 | 31.05.2019 | – |
| BPW_2019/06A | 12 996 | 28.06.2019 | – |
| BPW_2019/07 | 11 501 | 31.07.2019 | – |
| BPW_2019/08 | 7 470 | 30.08.2019 | – |
| BPW_2019/09 | 8 561 | 30.09.2019 | – |
| BKMO_280317C | 503 494 | 28.03.2017 | Catalyst (ASO BondSpot) |
| BKMO_220618N | 299 769 | 22.06.2018 | Catalyst (ASO BondSpot, ASO GPW) |
| BKMO_190617S | 29 727 | 19.06.2017 | – |
| TOTAL | 1 112 092 |
Redemption of Banking Securities (BPW) shall be made by means of payment on redemption date of the settlement amount, which shall be determined on the date of settlement amount and is calculated with use of formulas indicated in terms and conditions of the issue. Calculation of the settlement amount is made on the basis financial or commodity market ratios. As regards bonds (BKMO) quoted in the BondSpot alternative trading system (ASO BondSpot) and in the WSE alternative trading system (ASO WSE) interest is accrued on the nominal value of the bonds and is payable semi-annually. As of 31.12.2016 the interest balance was PLN 4,383 thousand.
On the Catalyst wholesale market of debt financial instruments (ASO BondSpot), as of 31.12.2016, quotations were made of 3-year C-series and N-series Bank Millennium’s bonds with nominal value of PLN 500 and 300 million respectively. Additionally N-series bonds were quoted on the Catalyst retail market of debt financial instruments (ASO GPW). S-series Millennium bonds are zero-coupon bonds.
Debt securities issued by the Millennium Leasing
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| As at 31.12.2016 | Balance sheet value | Final legal maturity | Market |
|---|---|---|---|
| Obligacje M Leasing seria G1 | 30 075 | 14.03.2018 | – |
| Obligacje M Leasing seria G2 | 13 032 | 14.03.2018 | – |
| Obligacje M Leasing seria G3 | 35 087 | 09.05.2018 | – |
| Obligacje M Leasing seria G4 | 20 050 | 09.05.2018 | – |
| Obligacje M Leasing seria G5 | 26 064 | 19.09.2018 | – |
| Obligacje M Leasing seria F13 | 40 920 | 23.03.2017 | – |
| Obligacje M Leasing seria F14 | 36 516 | 23.06.2017 | – |
| TOTAL | 201 744 |
In the case of securities issued by Millennium Leasing interest are accrued based on the value of bonds and paid quarterly. As at 31.12.2016 interests accrued amounted to PLN 345 thousand.
30e. Debt securities by type
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| As at 31.12.2015 | Balance sheet value | Final legal maturity | Market |
|---|---|---|---|
| BPW_2016/02,A | 5 085 | 03.02.2016 | – |
| BPW_2016/03,A | 17 203 | 2016-03-02,30 | – |
| BPW_2016/04,A | 15 587 | 29.04.2016 | – |
| BPW_2016/05,A | 3 548 | 31.05.2016 | – |
| BPW_2016/06,A | 5 534 | 29.06.2016 | – |
| BPW_2016/07 | 6 003 | 29.07.2016 | – |
| BPW_2016/08,A | 16 840 | 2016-08-31,29 | – |
| BPW_2016/09,A,B | 23 916 | 2016-09-29,30 | – |
| BPW_2016/10,A | 14 069 | 31.10.2016 | – |
| BPW_2016/12,A,B | 9 929 | 2016-12-02,30 | – |
| BPW_2017/01,A | 11 731 | 31.01.2017 | – |
| BPW_2017/02,A | 6 946 | 28.02.2017 | – |
| BPW_2017/03,A | 12 774 | 30.03.2017 | – |
| BPW_2017/04,A,C | 16 573 | 28.04.2017 | – |
| BPW_2017/05 | 5 220 | 30.05.2017 | – |
| BPW_2017/06 | 4 485 | 30.06.2017 | – |
| BPW_2017/07 | 3 895 | 31.07.2017 | – |
| BPW_2017/11 | 5 778 | 30.11.2017 | – |
| BPW_2017/12,A | 6 688 | 29.12.2017 | – |
| BPW_2018/01 | 5 404 | 31.01.2018 | – |
| BPW_2018/02 | 5 707 | 27.02.2018 | – |
| BPW_2018/03 | 7 021 | 30.03.2018 | – |
| BPW_2018/04 | 9 243 | 30.04.2018 | – |
| BPW_2018/06,A | 20 152 | 2018-06-01,29 | – |
| BPW_2018/07 | 11 507 | 31.07.2018 | – |
| BPW_2018/08 | 14 950 | 31.08.2018 | – |
| BPW_2018/09 | 15 616 | 28.09.2018 | – |
| BPW_2018/10 | 6 326 | 31.10.2018 | – |
| BPW_2018/11 | 9 435 | 30.11.2018 | – |
| BPW_2019/01 | 4 362 | 03.01.2019 | – |
| BKMO_280317C | 503 405 | 28.03.2017 | Catalyst (ASO BondSpot) |
| BKMO_220618N | 299 752 | 22.06.2018 | Catalyst (ASO BondSpot, ASO GPW) |
| BKMO_150916P | 29 566 | 15.09.2016 | – |
| RAZEM | 1 134 250 |
In case of Bank Securities (BPW) issued by the Bank the interest calculation formula assumes that interest will be calculated on the basis of underlying indexes on maturity date. As regards bonds (BKMO) quoted in the BondSpot alternative trading system (ASO BondSpot) and in the WSE alternative trading system (ASO WSE) interest is accrued on the nominal value of the bonds and is payable semi-annually. As of 31.12.2015 the interest balance was PLN 4,392 thousand.
On the Catalyst wholesale market of debt financial instruments (ASO BondSpot), as of 31.12.2015, quotations were made of 3-year C-series and N-series Bank Millennium’s bonds with nominal value of PLN 500 and 300 million respectively. Additionally N-series bonds were quoted on the Catalyst retail market of debt financial instruments (ASO GPW). P-series Millennium bonds are zero-coupon bonds.