The proportion of Irish Government bonds held overseas has continued to increase, according to the Central Bank.

Non-resident holders accounted for 59.8% of all outstanding bonds by the end of June – up from 52.2% a year earlier.

Of the bonds held by Irish residents the majority, 92.7%, were in the hands of the Central Bank and Irish credit institutions. 

The nominal value of the bond still outstanding by the end of June stood at €124.38 billion, up €379m, with 11.1% of them due to mature in less than three years.

A total of €50 billion worth of bonds are due to mature in the next five years, with the Central Bank putting an average interest rate of 4.8% on these.

The institution points out that, given the current 1.3% yield on Irish Government ten year bonds, there is the potential for savings as new bonds are issued in the years ahead.