Bond markets and long-term interest rates in EU accession countries

A survey, designed jointly by the ECB and the European Commission (Eurostat), has been carried out with the aim of providing an overview of the capital market structures of the EU accession countries, in particular in relation to the bond markets and interest rates. The national central banks of the EU accession countries played an essential role in carrying out the survey. The results are presented in the report entitled "Bond markets and long-term interest rates in EU accession countries" to be published today by the ECB. The convergence of long-term interest rates as measured by the yield on government bonds or comparable securities constitutes one of the convergence criteria to which reference is made in Article 121 of the Treaty establishing the European Community.

The report consists of twelve national chapters, each of which is divided into five sections. The five sections cover the size and activity of the national debt securities markets and interest rates, including bond yields, a description of certain features of individual long-term debt securities issued by the general government and a brief reference to securities market regulation.

The report can be accessed via the ECB's website. A hard copy can also be obtained on request from the ECB's Press and Information Division at the address given below.