The fourth increase to the New Zealand Debt Management Office (NZDMO)'s domestic bond programme for 2010/11 to be announced since December – and by far the largest of the four – should allow the agency to begin pre-funding for 2011/12. The NZDMO announced on May 3 that it has added a further NZ$3.5 billion (US$2.8 billion) to its programme for the current financial year, taking the total to NZ$20 billion.