Germany government financial accounts
Germany's general government financial accounts detail public assets and liabilities from the Bundesbank.
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| 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
The series on this page is quarterly and runs from Q1 1999 to Q1 2026. Source: Deutsche Bundesbank.
About this data
Germany's general government financial accounts detail public assets and liabilities from the Bundesbank. The quarterly series provide a national-accounts view of public finances, covering both balance sheet stocks and transaction flows. Breakdowns include debt securities, loans, transferable deposits, and equity, available from 1999 onwards. This measure differs from the standard Maastricht debt level.
Frequently asked questions
- What is the latest figure for Germany government financial accounts?
- 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.
- How far back does the Germany government financial accounts data go?
- The series on this page is quarterly and runs from Q1 1999 to Q1 2026. Source: Deutsche Bundesbank. Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- What is included in the German government financial accounts?
- The financial accounts for Germany detail the general government's balance sheet stocks and transaction flows. Instruments include debt securities, loans, deposits, and equity and investment fund shares.
- Does this table show the German government debt level?
- This dataset shows the general government's total liabilities across various financial instruments in EUR billion. However, these national-accounts figures are measured differently from the official Maastricht debt level.
- What is the difference between stocks and flows in these accounts?
- In the context of Germany's government financial accounts, balance sheet stocks represent the total value of financial assets and liabilities at the end of a quarter. Transactions, or flows, show the net acquisition of assets or incurrence of liabilities during that period.