France credit: non-financial sector and government
France credit: non-financial sector and government stood at 9,736.97 EUR billion in Q1 2026, according to BIS – Bank for International Settlements (data.bis.org). It is one of the indicators in the Total credit and debt service (BIS) table (Value · Quarterly), with a complete series running from Q4 1998 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Total credit and debt service (BIS) table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-financial sector (private and government)3 | 9,736.97 | 9,654.88 | 9,643.43 | 9,578.58 | 9,465.6 | 9,389.95 | 9,369.45 | 9,209.94 | 9,170.75 | 9,138.03 | |
| Private non-financial sector | 6,447.39 | 6,428.98 | 6,379.51 | 6,352.55 | 6,313.21 | 6,256.46 | 6,214.83 | 6,185.92 | 6,142.79 | 6,136.56 | |
| General government, market value | 3,289.59 | 3,225.9 | 3,263.92 | 3,226.03 | 3,152.39 | 3,133.49 | 3,154.61 | 3,024.02 | 3,027.96 | 3,001.47 |
Understanding france credit: non-financial sector and government
This series tallies the cumulative nominal volume of all loans and debt securities issued to households, non-profit institutions serving households, non-financial corporations, and general government entities combined. Unlike ratios scaled against national output, this metric exposes the raw monetary weight of debt circulating through the broader economy without normalizing for economic size. The measurement aggregates funds supplied by resident and non-resident institutional lenders, capturing both bank financing and market-based debt instruments across all maturity lengths.
Evaluating these nominal sums necessitates accounting for valuation adjustments, such as exchange rate fluctuations on foreign-currency debt and shifts in market prices for securities. Analysts must distinguish between organic credit growth driven by new lending and accounting changes resulting from loan restructuring, portfolio sales, or reclassifications of institutional units. Comparing this nominal total directly with currency-denominated debt measures from other nations can be misleading if accounting rules for securitized loans or government liabilities differ.
Frequently asked questions
- What types of financial instruments contribute to this total credit figure?
- The total includes bank loans, bonds, and other debt securities issued by both government and non-financial private borrowers.
- Are foreign-currency loans converted at current market rates?
- Foreign-currency liabilities are translated into domestic currency equivalents using prevailing exchange rates at the end of each reporting period.
- How do institutional reclassifications impact the series?
- When an entity shifts sectors or undergoes restructuring, its debt is moved between categories, which can create artificial breaks in the historical loan series.