Germany bond issuance: net sales of debt securities by issuer
Monthly net sales (issuance minus redemptions) of debt securities by German issuers at nominal value, EUR million: public sector (federal, Länder), banks, Pfandbriefe and non-financial corporations.
| Indicator | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | 07-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nominal value28 | ||||||||||||||||||||||||||||||||||||||
| Nominal value, Total | 58,125 | 19,614 | 49,053 | -34 | -7,731 | 8,063 | 65,469 | -30,969 | 34,358 | 13,479 | 17,850 | 7,206 | 44,137 | 35,751 | 33,212 | -19,344 | 22,308 | -8,552 | 37,624 | -22,127 | 20,351 | 12,141 | 11,706 | 6,815 | 415 | 15,859 | 5,787 | -9,914 | 17,943 | 12,862 | 4,841 | -11,217 | 30,649 | -7,927 | 12,991 | 15,869 | 30,229 | |
| Nominal value, agreed maturity up to and including 4 years, Total | 12,089 | 2,162 | -1,822 | 16,028 | -27,186 | -1,611 | 8,438 | -24,243 | 11,966 | 8,399 | -5,162 | 21,128 | 14,156 | -8,250 | 4,253 | -6,911 | 954 | 3,230 | 1,769 | -19,356 | 6,334 | 9,036 | -6,424 | 3,153 | -5,830 | 3,733 | 1,126 | -17,507 | -10,458 | 2,682 | -10,342 | -12,585 | 14,676 | -14,263 | -9,332 | 17,319 | 4,903 | |
| Nominal value, Maturities of more than four years, Total | 46,036 | 17,452 | 50,875 | -16,062 | 19,454 | 9,674 | 57,031 | -6,726 | 22,392 | 5,079 | 23,012 | -13,922 | 29,981 | 44,001 | 28,959 | -12,433 | 21,354 | -11,782 | 35,855 | -2,771 | 14,017 | 3,106 | 18,130 | 3,662 | 6,245 | 12,125 | 4,662 | 7,593 | 28,401 | 10,180 | 15,183 | 1,368 | 15,973 | 6,335 | 22,323 | -1,450 | 25,326 | |
| Nominal value, Debt securities issued by special purpose credit institutions | 1,183 | 8,178 | -1,120 | 6,873 | -14,855 | -1,665 | 5,221 | -11,622 | 4,825 | 1,877 | 3,140 | 14,213 | 5,395 | -2,804 | 15,634 | -14,308 | 11,090 | 896 | 3,269 | -3,613 | -6,635 | -3,340 | 11,086 | 1,338 | -19,593 | 9,726 | 2,782 | -14,334 | 8,865 | -522 | -2,865 | 9,314 | 7,149 | -895 | -4,706 | 7,387 | -502 | |
| Nominal value, agreed maturity up to and including 4 years, Bank debt securities issued by special purpose credit institutions | -2,218 | 8,141 | -10,349 | 872 | -11,722 | -8,357 | -8,770 | -5,732 | 3,592 | -3,608 | 909 | 13,510 | 5,416 | -1,921 | 8,345 | -13,548 | 15,489 | 1,442 | 173 | 4,792 | -2,694 | -837 | 10,360 | -216 | -6,391 | 15,096 | -2,875 | -15,103 | 7,470 | -7,979 | -6,919 | 14,126 | 10,714 | -11,865 | -4,371 | 6,716 | -6,486 | |
| Nominal value, Maturities of more than four years, Bank debt securities issued by special purpose credit institutions | 3,401 | 38 | 9,229 | 6,001 | -3,133 | 6,692 | 13,991 | -5,890 | 1,232 | 5,485 | 2,231 | 704 | -21 | -883 | 7,289 | -761 | -4,399 | -545 | 3,096 | -8,405 | -3,941 | -2,503 | 727 | 1,554 | -13,201 | -5,370 | 5,656 | 769 | 1,394 | 7,457 | 4,055 | -4,812 | -3,565 | 10,969 | -335 | 671 | 5,985 | |
| Nominal value, Public Pfandbriefe | 1,402 | -1 | 1,292 | 528 | 806 | 1,355 | 431 | -1,039 | 59 | 370 | -1,229 | 1,010 | 454 | 205 | 3,057 | 44 | -529 | 1,291 | 1,234 | 258 | -514 | -117 | 442 | -237 | 480 | -207 | 77 | -1,562 | -498 | 1,691 | 1,400 | 1,288 | 904 | -1,529 | -809 | 541 | 110 | |
| Nominal value, agreed maturity up to and including 4 years, Public Pfandbriefe | 0 | 1,493 | 7 | 493 | -365 | 0 | 16 | -900 | 0 | -173 | 500 | 0 | -20 | -187 | -65 | 88 | -50 | 947 | 750 | 513 | 0 | -717 | 632 | -100 | 0 | -940 | 0 | -2,038 | -22 | 800 | 1,093 | 248 | 454 | -888 | 350 | 13 | 128 | |
| Nominal value, Maturities of more than four years, Public Pfandbriefe | 1,402 | -1,494 | 1,285 | 35 | 1,171 | 1,355 | 415 | -139 | 59 | 543 | -1,729 | 1,010 | 474 | 392 | 3,122 | -44 | -479 | 344 | 484 | -255 | -514 | 600 | -190 | -137 | 480 | 733 | 77 | 476 | -476 | 891 | 307 | 1,040 | 450 | -641 | -1,159 | 528 | -18 | |
| Nominal value, Mortgage Pfandbriefe | 11,614 | -1,784 | 1,722 | -1,295 | -1,665 | -1,104 | 5,543 | -789 | -1,339 | 1,590 | -1,953 | -863 | 2,397 | 1,601 | 216 | 387 | -1,722 | 2,181 | 1,464 | -1,472 | -526 | 556 | -4,138 | 1,758 | -1,491 | -486 | -2,643 | 2,897 | 1,459 | 1,102 | -569 | 308 | 4,984 | -2,527 | 28 | 2,930 | -53 | |
| Nominal value, agreed maturity up to and including 4 years, Mortgage Pfandbriefe | 426 | -690 | -640 | -1,888 | -1,790 | -1,958 | -515 | -990 | -2,128 | 28 | -1,289 | -272 | -50 | 572 | 130 | -441 | -240 | -341 | 1,968 | -727 | -47 | -496 | -2,711 | -255 | -440 | 880 | 1,027 | 329 | -20 | 1,351 | 173 | 393 | 250 | -315 | -1,467 | 598 | 1,945 | |
| Nominal value, Maturities of more than four years, Mortgage Pfandbriefe | 11,189 | -1,094 | 2,362 | 592 | 126 | 854 | 6,057 | 201 | 788 | 1,561 | -664 | -592 | 2,447 | 1,029 | 86 | 828 | -1,482 | 2,522 | -504 | -745 | -478 | 1,052 | -1,427 | 2,012 | -1,051 | -1,366 | -3,670 | 2,568 | 1,478 | -249 | -742 | -85 | 4,734 | -2,212 | 1,494 | 2,332 | -1,999 | |
| Nominal value, Other bank debt securities | 7,140 | 3,205 | 3,888 | 1,212 | -3,420 | 426 | 6,823 | 2,892 | 2,046 | 3,995 | -1,598 | 3,161 | 1,504 | 8,583 | -3,803 | -7,336 | 1,542 | 5,986 | 8,068 | -6,921 | 3,044 | 5,485 | 589 | 459 | 2,563 | 918 | 2,505 | 2,346 | 3,713 | 5,078 | 6,243 | -609 | 391 | 3,356 | -897 | -1,249 | 1,146 | |
| Nominal value, agreed maturity up to and including 4 years, Other bank debt securities | 5,254 | 2,740 | 1,635 | -326 | -2,595 | -1,038 | 2,151 | 229 | -94 | 1,798 | 496 | 1,099 | -809 | 6,366 | -3,426 | -3,088 | 1,956 | 2,516 | 5,266 | -3,572 | 2,387 | 4,095 | 43 | 557 | 821 | -773 | 1,774 | 371 | 3,247 | 2,471 | 4,691 | -866 | 395 | 1,728 | 1,441 | 1,570 | 638 | |
| Nominal value, Maturities of more than four years, Other bank debt securities | 1,886 | 465 | 2,253 | 1,537 | -825 | 1,465 | 4,671 | 2,663 | 2,140 | 2,197 | -2,094 | 2,061 | 2,312 | 2,217 | -377 | -4,248 | -414 | 3,470 | 2,802 | -3,349 | 657 | 1,391 | 545 | -98 | 1,742 | 1,692 | 731 | 1,975 | 466 | 2,606 | 1,552 | 257 | -4 | 1,628 | -2,337 | -2,819 | 508 | |
| Nominal value, Non-financial corporations | 4,710 | 5,206 | 3,378 | 4,581 | -2,677 | 4,258 | 3,351 | -2,470 | 3,914 | 564 | 2,112 | -5,382 | 46 | -2,088 | -2,469 | 3,938 | 3,169 | -1,067 | 409 | -3,354 | 476 | 2,624 | 1,457 | 1,894 | -3,690 | 234 | 3,938 | 4,984 | 4,470 | -696 | 2,954 | -2,769 | -2,611 | -63 | -281 | 732 | 1,027 | |
| Nominal value, Bank debt securities | 21,339 | 9,598 | 5,781 | 7,318 | -19,134 | -988 | 18,018 | -10,558 | 5,591 | 7,831 | -1,641 | 17,521 | 9,749 | 7,585 | 15,104 | -21,213 | 10,380 | 10,354 | 14,035 | -11,747 | -4,631 | 2,585 | 7,980 | 3,317 | -18,041 | 9,951 | 2,720 | -10,653 | 13,538 | 7,348 | 4,209 | 10,301 | 13,427 | -1,596 | -6,384 | 9,610 | 700 | |
| Nominal value, agreed maturity up to and including 4 years, Bank debt securities | 3,462 | 11,683 | -9,347 | -848 | -16,472 | -11,354 | -7,117 | -7,393 | 1,371 | -1,955 | 616 | 14,338 | 4,537 | 4,830 | 4,984 | -16,989 | 17,155 | 4,563 | 8,157 | 1,007 | -354 | 2,045 | 8,324 | -14 | -6,010 | 14,263 | -73 | -16,441 | 10,676 | -3,357 | -963 | 13,901 | 11,813 | -11,340 | -4,047 | 8,897 | -3,776 | |
| Nominal value, Maturities of more than four years, Bank debt securities | 17,877 | -2,085 | 15,128 | 8,166 | -2,662 | 10,366 | 25,134 | -3,165 | 4,220 | 9,786 | -2,256 | 3,183 | 5,212 | 2,755 | 10,120 | -4,224 | -6,775 | 5,791 | 5,878 | -12,754 | -4,277 | 540 | -345 | 3,331 | -12,031 | -4,312 | 2,794 | 5,788 | 2,862 | 10,705 | 5,172 | -3,600 | 1,614 | 9,744 | -2,337 | 712 | 4,476 | |
| Nominal value, Public debt securities | 34,693 | 6,988 | 39,527 | -14,432 | 15,589 | 5,840 | 46,989 | -16,204 | 25,726 | 4,963 | 16,802 | -2,723 | 35,665 | -934 | 18,440 | -1,444 | 7,619 | -17,684 | 25,811 | -17,607 | 22,798 | 7,344 | 762 | 1,705 | 22,947 | 3,578 | -532 | -4,233 | 620 | 7,827 | -3,740 | -16,644 | 21,239 | -4,135 | 11,300 | 8,050 | 30,263 | |
| Nominal value, agreed maturity up to and including 4 years, Public debt securities | 8,688 | -11,694 | 7,396 | 15,043 | -8,705 | 8,219 | 17,274 | -15,927 | 11,591 | 9,313 | -5,073 | 7,662 | 8,770 | -12,508 | -1,010 | 5,915 | -16,797 | -1,130 | -2,319 | -20,511 | 8,938 | 6,552 | -12,763 | 2,605 | 3,314 | -12,182 | -607 | -2,163 | -20,735 | 5,999 | -9,429 | -22,938 | 5,984 | -2,790 | -7,049 | 8,370 | 9,728 | |
| Nominal value, Maturities of more than four years, Public debt securities | 26,005 | 18,681 | 32,131 | -29,475 | 24,294 | -2,379 | 29,715 | -277 | 14,135 | -4,350 | 21,875 | -10,385 | 26,895 | 11,574 | 19,450 | -7,360 | 24,416 | -16,554 | 28,131 | 2,904 | 13,860 | 792 | 13,525 | -900 | 19,633 | 15,760 | 75 | -2,070 | 21,355 | 1,827 | 5,689 | 6,294 | 15,255 | -1,345 | 18,349 | -320 | 20,535 | |
| Nominal value, Corporate bonds | 2,094 | 3,028 | 3,745 | 7,081 | -4,187 | 3,210 | 462 | -4,207 | 3,041 | 685 | 2,689 | -7,593 | -1,277 | 29,100 | -333 | 3,313 | 4,309 | -1,222 | -2,223 | 7,227 | 2,184 | 2,212 | 2,965 | 1,793 | -4,490 | 2,329 | 3,598 | 4,972 | 3,784 | -2,312 | 4,372 | -4,873 | -4,018 | -2,197 | 8,074 | -1,791 | -734 | |
| Nominal value, agreed maturity up to and including 4 years, Corporate bonds (Non-MFIs) | -61 | 2,173 | 129 | 1,834 | -2,009 | 1,523 | -1,720 | -923 | -996 | 1,042 | -705 | -872 | 848 | -572 | 279 | 4,162 | 596 | -203 | -4,069 | 149 | -2,250 | 438 | -1,984 | 562 | -3,134 | 1,652 | 1,805 | 1,097 | -399 | 40 | 50 | -3,548 | -3,121 | -133 | 1,763 | 52 | -1,049 | |
| Nominal value, Maturities of more than four years, Corporate bonds (Non-MFIs) | 2,154 | 856 | 3,616 | 5,248 | -2,178 | 1,687 | 2,182 | -3,284 | 4,036 | -357 | 3,393 | -6,721 | -2,126 | 29,671 | -611 | -849 | 3,713 | -1,019 | 1,846 | 7,078 | 4,434 | 1,774 | 4,949 | 1,231 | -1,356 | 677 | 1,793 | 3,875 | 4,184 | -2,352 | 4,322 | -1,326 | -896 | -2,064 | 6,311 | -1,843 | 315 | |
| Nominal value, Corporations (Non-MFIs), Commercial paper | 94 | 514 | -487 | 1,051 | -167 | 1,549 | 1,099 | -1,053 | -532 | -233 | -2,095 | 28 | 252 | -936 | 17 | 2,060 | 51 | 1,061 | -983 | 846 | -2,729 | -87 | -2,418 | 461 | 138 | 345 | 1,989 | 883 | -109 | -97 | -635 | -2,466 | -1,980 | -39 | 247 | -281 | 243 | |
| Nominal value, Other financial intermediaries | -1,346 | -2,207 | 376 | 1,510 | -1,395 | -1,101 | -1,517 | -1,535 | -791 | -179 | -748 | -1,273 | -1,318 | 30,772 | 2,087 | -784 | 14 | -81 | -2,211 | 10,571 | 1,759 | 1,061 | -702 | -207 | -636 | 1,965 | -1,858 | -586 | -708 | -1,648 | 510 | -2,096 | -1,386 | -690 | 5,558 | -2,528 | -1,761 | |
| Nominal value, Insurance corporations | -1,270 | 30 | -9 | 990 | -106 | 54 | -1,372 | -201 | -82 | 300 | 1,325 | -938 | -5 | 416 | 50 | 134 | 1,110 | -44 | -400 | 100 | -51 | -1,473 | 2,210 | 107 | -165 | 130 | 1,519 | 575 | 20 | 32 | 908 | -9 | -21 | -1,443 | 2,798 | 5 | 0 | |
| Changes in issuers' holdings of their own securities (market values)8 | ||||||||||||||||||||||||||||||||||||||
| Market values +, - changes in issuers' holdings of their own debt securities | 43,882 | 13,912 | 48,332 | 3,970 | -6,137 | 9,219 | 50,502 | -26,388 | 44,563 | 19,734 | 14,172 | 11,577 | 39,795 | 36,026 | 35,945 | -18,605 | 24,145 | -6,453 | 29,479 | -25,973 | 13,419 | 44,141 | 6,564 | 7,546 | -1,185 | 14,811 | 22,035 | -25,395 | 15,188 | 11,577 | 25,509 | -27,517 | 18,861 | -19,390 | 16,310 | 10,967 | 27,889 | |
| Market values +, Bank debt securities issued by special purpose credit institutions | 1,097 | 8,590 | -954 | 7,058 | -14,154 | -271 | 4,816 | -12,415 | 5,293 | 2,269 | 3,300 | 14,457 | 5,504 | -2,042 | 15,217 | -13,559 | 11,574 | 1,276 | 3,137 | -3,662 | -6,987 | -3,194 | 11,159 | 1,505 | -19,447 | 9,877 | 2,797 | -14,589 | 8,737 | -932 | -2,744 | 8,642 | 6,765 | -1,344 | -5,071 | 7,753 | -918 | |
| Market values +, Public Pfandbriefe | 112 | -3,085 | 1,294 | 3,817 | -68 | 1,331 | 375 | -827 | 61 | 380 | -721 | 498 | -508 | 715 | 1,478 | 1,048 | -513 | 311 | 212 | -689 | -560 | -814 | 906 | -256 | 437 | 772 | 32 | -1,052 | -44 | 1,708 | 1,462 | -77 | 832 | 1,892 | -588 | 529 | 73 | |
| Market values +, Mortgage Pfandbriefe | 6,951 | -6,020 | 1,774 | 6,145 | -2,000 | -1,214 | 5,678 | -1,241 | -1,231 | 960 | -1,656 | -1,952 | 16 | 1,457 | -417 | 1,314 | -1,086 | 625 | 3,361 | -2,373 | -601 | 207 | -1,742 | 1,754 | -1,303 | -895 | -2,557 | 2,434 | 2,159 | 760 | 1,434 | -272 | 1,107 | -1,972 | -798 | 2,485 | 722 | |
| Market values +, Other bank debt securities | 8,301 | 3,565 | 4,295 | 1,492 | -555 | 714 | 6,509 | 2,054 | 2,755 | 4,760 | -2,034 | 3,831 | 1,400 | 5,973 | -3,526 | -5,358 | 3,066 | 5,069 | 7,307 | -7,850 | 613 | 5,090 | -780 | 647 | 2,481 | 267 | 1,565 | 2,543 | 3,062 | 4,927 | 8,284 | -3,926 | 735 | 3,101 | -633 | -490 | 1,104 | |
| Market values +, - changes in issuers' holdings of their own debt securities, Bank debt securities | 16,461 | 3,050 | 6,410 | 18,513 | -16,778 | 561 | 17,379 | -12,429 | 6,878 | 8,369 | -1,111 | 16,834 | 6,412 | 6,103 | 12,752 | -16,555 | 13,042 | 7,281 | 14,017 | -14,573 | -7,535 | 1,290 | 9,543 | 3,649 | -17,832 | 10,021 | 1,836 | -10,665 | 13,915 | 6,463 | 8,437 | 4,368 | 9,439 | 1,677 | -7,089 | 10,278 | 981 | |
| Market values +, - changes in issuers' holdings of their own debt securities, Public debt securities | 25,413 | 8,791 | 37,719 | -21,913 | 15,939 | 5,488 | 26,005 | -6,455 | 33,706 | 8,457 | 13,322 | 3,600 | 33,347 | 936 | 22,951 | -6,116 | 7,869 | -14,344 | 15,603 | -14,247 | 18,882 | 40,269 | -1,962 | 157 | 17,665 | 2,031 | 19,503 | -20,946 | -1,799 | 6,070 | 10,771 | -23,499 | 12,759 | -10,113 | 16,938 | 2,397 | 26,987 | |
| Market values +, - changes in issuers' holdings of their own debt securities, Corporate bonds | 2,008 | 2,071 | 4,204 | 7,370 | -5,298 | 3,170 | 7,118 | -7,504 | 3,979 | 2,908 | 1,961 | -8,857 | 36 | 28,987 | 242 | 4,066 | 3,235 | 610 | -141 | 2,847 | 2,072 | 2,583 | -1,018 | 3,739 | -1,018 | 2,760 | 696 | 6,215 | 3,072 | -957 | 6,301 | -8,386 | -3,337 | -10,955 | 6,461 | -1,708 | -79 |
Latest reading
Nominal value, Total stood at 58,125 EUR million in Jul 2026. That is +38,511 EUR million from Jun 2026 and +13,988 EUR million from a year earlier. The series on this page is monthly and runs from Jan 1948 to Jul 2026. Source: Deutsche Bundesbank.
- Latest
- 58,125 EUR million
- Jul 2026
- vs previous period
- +38,511 EUR million
- Jun 2026
- vs a year earlier
- +13,988 EUR million
