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Netherlands increases issuance target for 2021

EUROZONE ISSUANCE
  • The DSTA has today increased its estimate of funding needs from E95.1bln to E110.6bln, an increase of E15.5bln, due to "the increased cash deficit due to the budgetary impact of the new and prolonged support programs that help to mitigate the persisting COVID-19 crisis."
  • Capital markets issuance is now expected to be "at least E55bln" instead of "at least E50bln" previously.
  • There is no change to the auction calendar for Q2 with a DDA for the launch of the new Jan-38 DSL on 13 April (E4-6bln), two reopenings of the 0% Jul-31 DSL in May and June and three additional reopenings of existing DSLs in April, May and June.

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