Germany general government financial accounts, quarterly
The financial balance sheet of German general government by instrument and the transactions behind it, from the Bundesbank financial accounts.
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet (stocks)2 | ||||||||||||||
| Financial assets1 | ||||||||||||||
| Total financial assets7 | 2,084.8 | 2,021.1 | 1,968.2 | 1,906.8 | 1,878.4 | 1,836.8 | 1,834 | 1,780.8 | 1,791.7 | 1,767.7 | 1,719.5 | 1,717.3 | 1,726.4 | |
| Currency and deposits3 | 379 | 361.3 | 374.1 | 374.4 | 348.3 | 347.4 | 361.4 | 362.7 | 380 | 389.4 | 442.7 | 424 | 423.6 | |
| Currency | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| Transferable deposits | 91.9 | 94.6 | 88.9 | 94.2 | 91.1 | 97 | 93.7 | 97.6 | 91 | 96 | 112.4 | 131.6 | 176.6 | |
| Other deposits3 | 287 | 266.6 | 285.1 | 280.1 | 257.1 | 250.3 | 267.6 | 265 | 288.9 | 293.3 | 330.2 | 292.3 | 246.9 | |
| Time deposits2 | 282.3 | 262 | 280.4 | 275.4 | 252.3 | 245.4 | 262.7 | 259.9 | 283.8 | 288.1 | 325.1 | 287.1 | 241.6 | |
| Short-term time deposits | 222.2 | 203.7 | 211.6 | 207.9 | 186.5 | 177.4 | 190.8 | 184.5 | 207.8 | 213.9 | 248 | 210.6 | 162.7 | |
| Long-term time deposits | 60.1 | 58.4 | 68.8 | 67.6 | 65.8 | 68 | 71.9 | 75.4 | 75.9 | 74.2 | 77.2 | 76.5 | 78.8 | |
| Savings deposits2 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | 0.7 | 0.8 | 0.9 | 0.9 | 1.2 | 1.6 | |
| Short-term savings deposits | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | 0.7 | 0.7 | 0.8 | 1.1 | 1.4 | |
| Long-term savings deposits | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| Savings certificates | 4.2 | 4.1 | 4.2 | 4.2 | 4.3 | 4.3 | 4.2 | 4.4 | 4.3 | 4.3 | 4.2 | 4 | 3.8 | |
| Debt securities2 | 158.4 | 156.3 | 152.3 | 149.3 | 145.5 | 145.1 | 146.4 | 142.8 | 143.5 | 140.4 | 134.4 | 130.3 | 130.2 | |
| Short-term debt securities | 0.7 | 0.6 | 1.1 | 0.6 | 0.4 | 0.4 | 0.6 | 1.1 | 2 | 2.4 | 0.9 | 0.8 | 0.5 | |
| Long-term debt securities | 157.7 | 155.8 | 151.2 | 148.8 | 145.2 | 144.7 | 145.8 | 141.6 | 141.4 | 138 | 133.5 | 129.4 | 129.6 | |
| Loans2 | 354.2 | 350.4 | 341.4 | 339.1 | 343 | 349.8 | 346.6 | 343.7 | 351.8 | 359.1 | 350.2 | 350.7 | 363.1 | |
| Short-term loans | 127.4 | 128.4 | 124.4 | 118.6 | 118.9 | 120.3 | 108.4 | 109.1 | 110.5 | 115.1 | 104.9 | 99.1 | 102.2 | |
| Long-term loans | 226.8 | 222 | 217 | 220.5 | 224.1 | 229.5 | 238.2 | 234.6 | 241.3 | 244 | 245.2 | 251.6 | 260.9 | |
| Equity and investment fund shares4 | 1,043.2 | 1,005.1 | 958.6 | 905.3 | 909.1 | 865.9 | 843.7 | 792.9 | 778.4 | 739 | 650.5 | 668.8 | 675.1 | |
| Listed shares | 144.9 | 143.5 | 139.7 | 135.4 | 137.1 | 126.2 | 123.4 | 117.3 | 125 | 114.7 | 106.1 | 111.1 | 112.2 | |
| Unlisted shares | 29.8 | 29.8 | 29.8 | 29.8 | 29.8 | 29.8 | 28.8 | 27.8 | 26.8 | 25.8 | 24.3 | 22.8 | 21.4 | |
| Other equity | 759.6 | 722.4 | 679.8 | 633.9 | 637.1 | 605.1 | 587.5 | 545 | 525 | 500.4 | 426.7 | 442.6 | 452.1 | |
| Investment fund shares2 | 108.9 | 109.4 | 109.2 | 106.2 | 105 | 104.8 | 104.1 | 102.8 | 101.7 | 98.2 | 93.4 | 92.2 | 89.5 | |
| Money-market fund shares | 0.2 | 0.3 | 0.1 | 0.2 | 0.2 | 0.3 | 0.1 | 0.3 | 0.2 | 0.4 | 0.1 | 0.1 | 0.1 | |
| Non-MMF investment fund shares | 108.8 | 109.1 | 109.1 | 106 | 104.8 | 104.6 | 104 | 102.5 | 101.5 | 97.8 | 93.3 | 92.2 | 89.4 | |
| Insurance, pension and standardised guarantee schemes1 | 1.4 | 1.2 | 1.3 | 1.4 | 1.4 | 1.3 | 1.4 | 1.4 | 1.5 | 1.2 | 1.2 | 1.3 | 1.3 | |
| Non-life insurance technical reserves | 1.4 | 1.2 | 1.3 | 1.4 | 1.4 | 1.3 | 1.4 | 1.4 | 1.5 | 1.2 | 1.2 | 1.3 | 1.3 | |
| Financial derivatives and employee stock options1 | -25.9 | -25.4 | -25.6 | -26.9 | -28.6 | -31 | -29.5 | -27.8 | -26.5 | -24.1 | -23.3 | -25.8 | -27.5 | |
| Financial derivatives | -25.9 | -25.4 | -25.6 | -26.9 | -28.6 | -31 | -29.5 | -27.8 | -26.5 | -24.1 | -23.3 | -25.8 | -27.5 | |
| Other accounts receivable/payable1 | 174.5 | 172.1 | 166.1 | 164.2 | 159.7 | 158.3 | 163.9 | 165 | 163.1 | 162.7 | 163.9 | 168 | 160.6 | |
| Other accounts receivable/payable, excluding trade credits and advances | 174.5 | 172.1 | 166.1 | 164.2 | 159.7 | 158.3 | 163.9 | 165 | 163.1 | 162.7 | 163.9 | 168 | 160.6 | |
| Liabilities1 | ||||||||||||||
| Total liabilities5 | 3,063 | 3,007 | 2,965.8 | 2,923.3 | 2,879.9 | 2,912.2 | 2,903.2 | 2,811.5 | 2,838.5 | 2,859.4 | 2,742.6 | 2,744.5 | 2,778.3 | |
| Currency and deposits2 | 18 | 18.3 | 18.7 | 16.7 | 14.7 | 14.8 | 16.8 | 15.5 | 14.8 | 16.9 | 18.1 | 15.3 | 15.3 | |
| Transferable deposits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other deposits | 18 | 18.3 | 18.7 | 16.7 | 14.7 | 14.8 | 16.8 | 15.5 | 14.8 | 16.9 | 18.1 | 15.3 | 15.3 | |
| Debt securities2 | 2,095.9 | 2,050.4 | 2,046.4 | 2,012.8 | 1,981.8 | 2,004.4 | 2,005.5 | 1,928.7 | 1,948 | 1,961.2 | 1,865.8 | 1,873.2 | 1,880.9 | |
| Short-term debt securities | 104.1 | 98.9 | 89.2 | 82.9 | 94.4 | 113.8 | 110.3 | 117.9 | 132.5 | 145.5 | 162.7 | 151.8 | 144.3 | |
| Long-term debt securities | 1,991.9 | 1,951.5 | 1,957.3 | 1,929.9 | 1,887.4 | 1,890.6 | 1,895.1 | 1,810.8 | 1,815.5 | 1,815.7 | 1,703.1 | 1,721.4 | 1,736.6 | |
| Loans2 | 779.9 | 769.3 | 731.7 | 726 | 715.8 | 726.4 | 710.5 | 699 | 707.3 | 716.1 | 696.3 | 695 | 721.8 | |
| Short-term loans | 175.8 | 173.8 | 150.7 | 149.6 | 142.4 | 150 | 138.9 | 134.2 | 141.4 | 143.6 | 136.4 | 137 | 155.4 | |
| Long-term loans | 604.1 | 595.5 | 581 | 576.4 | 573.4 | 576.4 | 571.6 | 564.8 | 565.9 | 572.5 | 559.9 | 558 | 566.4 | |
| Insurance, pension and standardised guarantee schemes1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Provisions for calls under standardised guarantees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other accounts receivable/payable2 | 169.2 | 169.1 | 168.9 | 167.8 | 167.6 | 166.6 | 170.4 | 168.2 | 168.4 | 165.2 | 162.4 | 161 | 160.3 | |
| Trade credits and advances | 79.6 | 79.8 | 79.6 | 79.8 | 79.8 | 79.9 | 80.2 | 80.4 | 80.7 | 80.8 | 80.3 | 79.8 | 79.3 | |
| Other accounts receivable/payable, excluding trade credits and advances | 89.5 | 89.2 | 89.4 | 87.9 | 87.9 | 86.7 | 90.2 | 87.8 | 87.7 | 84.4 | 82.1 | 81.3 | 81.1 | |
| Transactions (flows)2 | ||||||||||||||
| Financial assets1 | ||||||||||||||
| Total financial assets7 | 27.8 | 6.8 | 8.5 | 32.2 | -8.1 | -12.4 | -0.4 | -22.7 | -11.8 | -44.6 | 21 | -2.6 | -19.8 | |
| Currency and deposits3 | 16.1 | -14.1 | -0.2 | 26.1 | 1 | -14.7 | -1.7 | -17.4 | -9.5 | -54.1 | 18.7 | -1.2 | 0.6 | |
| Currency | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Transferable deposits | -4.1 | 4.7 | -5.3 | 3.1 | -5.9 | 2.8 | -3.9 | 6.6 | -5 | -16.9 | -19.3 | -46.2 | -26.1 | |
| Other deposits3 | 20.2 | -18.8 | 5.1 | 23 | 6.9 | -17.4 | 2.1 | -24 | -4.5 | -37.2 | 37.9 | 45 | 26.7 | |
| Time deposits2 | 20.1 | -18.7 | 5 | 23.2 | 6.9 | -17.3 | 2.3 | -24 | -4.4 | -37.3 | 38.1 | 45.2 | 26.9 | |
| Short-term time deposits | 18.3 | -8.3 | 3.8 | 21.5 | 9.1 | -13.4 | 5.8 | -23.3 | -6.1 | -34.3 | 37.4 | 47.5 | 13.9 | |
| Long-term time deposits | 1.8 | -10.4 | 1.2 | 1.7 | -2.3 | -3.9 | -3.5 | -0.6 | 1.7 | -3 | 0.7 | -2.3 | 13 | |
| Savings deposits2 | 0 | 0 | 0 | 0 | 0 | -0.1 | 0 | -0.1 | -0.1 | -0.1 | -0.3 | -0.3 | -0.4 | |
| Short-term savings deposits | 0 | 0 | 0 | 0 | 0 | -0.1 | 0 | -0.1 | -0.1 | -0.1 | -0.3 | -0.3 | -0.4 | |
| Long-term savings deposits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Savings certificates | 0.1 | -0.1 | 0.1 | -0.1 | 0 | 0 | -0.1 | 0.1 | 0 | 0.2 | 0.2 | 0.1 | 0.2 | |
| Debt securities2 | 3 | 4.4 | 3 | 3 | 1.3 | -1 | 0.9 | 0 | 3.5 | 0.9 | 5.1 | 0.2 | 1.4 | |
| Short-term debt securities | 0.1 | -0.5 | 0.5 | 0.2 | -0.1 | -0.1 | -0.6 | -0.9 | -0.5 | 1.5 | 0.1 | 0.3 | 0 | |
| Long-term debt securities | 2.9 | 4.9 | 2.5 | 2.8 | 1.4 | -0.9 | 1.5 | 0.9 | 4 | -0.7 | 5.1 | -0.1 | 1.4 | |
| Loans2 | 3.8 | 9 | 2.4 | -3.8 | -6.8 | 2.9 | 1.7 | -8 | -7.3 | 8.9 | -0.5 | -12.3 | -19.9 | |
| Short-term loans | -1 | 4 | 5.8 | -0.2 | -1.4 | 11.9 | -0.7 | -1.3 | -4.7 | 10.2 | 5.8 | -3.1 | -14.2 | |
| Long-term loans | 4.7 | 4.9 | -3.4 | -3.6 | -5.4 | -9 | 2.5 | -6.7 | -2.6 | -1.4 | -6.3 | -9.2 | -5.7 | |
| Equity and investment fund shares4 | 2.1 | 0.7 | 1.1 | 2.2 | -5.6 | 4.9 | -0.5 | 0.5 | 0.5 | -0.5 | 1.2 | 2.8 | -0.6 | |
| Listed shares | 0 | 0.1 | 0 | 0.6 | -4.3 | 0.2 | 0.3 | -2.9 | -2.2 | 0 | -0.1 | -0.3 | -0.9 | |
| Unlisted shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other equity | 1.4 | 0.9 | 0.2 | 1.4 | -2.1 | 3.3 | 0.5 | 2.6 | 1.6 | -1.1 | 0.7 | 1 | 0.6 | |
| Investment fund shares2 | 0.7 | -0.4 | 0.9 | 0.2 | 0.9 | 1.5 | -1.4 | 0.8 | 1.1 | 0.5 | 0.7 | 2.1 | -0.3 | |
| Money-market fund shares | -0.1 | 0.1 | -0.1 | 0 | -0.1 | 0.2 | -0.2 | 0.1 | -0.2 | 0.3 | 0 | 0 | -0.5 | |
| Non-MMF investment fund shares | 0.8 | -0.5 | 1 | 0.2 | 1 | 1.3 | -1.2 | 0.7 | 1.3 | 0.3 | 0.7 | 2.1 | 0.1 | |
| Insurance, pension and standardised guarantee schemes1 | 0.3 | -0.1 | -0.1 | -0.1 | 0.2 | -0.1 | 0 | -0.1 | 0.3 | -0.1 | 0 | 0 | 0.2 | |
| Non-life insurance technical reserves | 0.3 | -0.1 | -0.1 | -0.1 | 0.2 | -0.1 | 0 | -0.1 | 0.3 | -0.1 | 0 | 0 | 0.2 | |
| Financial derivatives and employee stock options1 | 0.2 | 0.9 | 0.4 | 0.3 | 0.3 | 1.2 | 0.4 | 0.4 | 0.4 | 1.5 | 0.6 | 0.6 | 0.5 | |
| Financial derivatives | 0.2 | 0.9 | 0.4 | 0.3 | 0.3 | 1.2 | 0.4 | 0.4 | 0.4 | 1.5 | 0.6 | 0.6 | 0.5 | |
| Other accounts receivable/payable2 | 2.4 | 5.9 | 1.9 | 4.5 | 1.5 | -5.7 | -1.1 | 2 | 0.4 | -1.2 | -4.1 | 7.4 | -1.9 | |
| Trade credits and advances | 0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | |
| Other accounts receivable/payable, excluding trade credits and advances | 2.4 | 5.9 | 1.8 | 4.4 | 1.4 | -5.8 | -1.2 | 1.8 | 0.3 | -1.2 | -4.1 | 7.4 | -1.8 | |
| Liabilities1 | ||||||||||||||
| Total liabilities5 | 67.1 | 49.3 | 54.1 | 35.6 | 4.2 | 16.2 | 36.1 | -4.4 | 8.2 | 1.9 | 47.3 | -12 | 9.1 | |
| Currency and deposits2 | -0.3 | -0.4 | 2 | 2 | -0.1 | -2 | 1.3 | 0.8 | -2.1 | -1.2 | 2.8 | 0 | -2 | |
| Transferable deposits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other deposits | -0.3 | -0.4 | 2 | 2 | -0.1 | -2 | 1.3 | 0.8 | -2.1 | -1.2 | 2.8 | 0 | -2 | |
| Debt securities2 | 57.1 | 22.3 | 43.5 | 19.6 | 12.1 | 15.8 | 20.3 | 0.5 | 14.9 | -11.4 | 41 | 11.8 | 50.5 | |
| Short-term debt securities | 5.2 | 9.8 | 6.4 | -11.3 | -19.2 | 3.5 | -7.5 | -14.6 | -13 | -17.1 | 10.9 | 7.6 | -5.8 | |
| Long-term debt securities | 51.9 | 12.5 | 37 | 30.9 | 31.3 | 12.3 | 27.9 | 15.1 | 27.9 | 5.7 | 30.1 | 4.3 | 56.3 | |
| Loans2 | 10.5 | 37.5 | 6 | 10.3 | -10.7 | 15.8 | 11.8 | -8.1 | -8.8 | 19.7 | 1.7 | -26.7 | -41.5 | |
| Short-term loans | 2 | 23.1 | 1.2 | 7.1 | -7.6 | 11 | 4.7 | -7.2 | -2.2 | 7.2 | -0.6 | -18.4 | -37.6 | |
| Long-term loans | 8.6 | 14.4 | 4.9 | 3.2 | -3.1 | 4.8 | 7.1 | -0.9 | -6.6 | 12.5 | 2.3 | -8.3 | -3.9 | |
| Insurance, pension and standardised guarantee schemes1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Provisions for calls under standardised guarantees | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other accounts receivable/payable2 | -0.3 | -10 | 2.7 | 3.7 | 2.9 | -13.4 | 2.7 | 2.3 | 4.3 | -5.2 | 1.9 | 2.8 | 2 | |
| Trade credits and advances | -0.6 | -9.9 | 1.2 | 3.6 | 1.7 | -9.9 | 0.3 | 2.2 | 0.9 | -7.5 | 1.1 | 2.6 | 0.8 | |
| Other accounts receivable/payable, excluding trade credits and advances | 0.3 | -0.1 | 1.4 | 0.1 | 1.2 | -3.5 | 2.4 | 0.1 | 3.3 | 2.3 | 0.8 | 0.2 | 1.3 |
Latest reading
Total financial assets stood at 2,084.8 EUR billion in Q1 2026. That is +3.2% from Q4 2025 and +11.0% from a year earlier. The series on this page is quarterly and runs from Q1 1999 to Q1 2026. Source: Deutsche Bundesbank.
- Latest
- 2,084.8 EUR billion
- Q1 2026
- vs previous period
- +3.2%
- Q4 2025
- vs a year earlier
- +11.0%
About this data
The financial balance sheet of German general government by instrument and the transactions behind it, from the Bundesbank financial accounts. This is the national-accounts view of public finances and is measured differently from the Maastricht debt level.
