France debt securities outstanding: MFIs, short-term
France debt securities outstanding: MFIs, short-term stood at 187,805 EUR million in Aug 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Debt securities issuance table (Value · Monthly), with a complete series running from Jan 1999 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Debt securities issuance table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Outstanding amount of debt securities (notional value) | |||||||||||
| Monetary financial institutions, short-term | 187,805 | 188,826 | 186,716 | 184,187 | 186,512 | 180,079 | 189,827 | 195,021 | 182,302 | 185,820 | |
| Monetary financial institutions, long-term | 1,459,034 | 1,450,603 | 1,444,541 | 1,437,001 | 1,434,487 | 1,433,279 | 1,425,666 | 1,423,299 | 1,407,253 | 1,406,858 |
Understanding france debt securities outstanding: MFIs, short-term
This series tracks short-term negotiable debt instruments issued by resident monetary financial institutions with an original maturity of one year or less. It measures bank reliance on short-term wholesale funding markets, including certificates of deposit, short-term notes, and negotiable commercial paper issued for liquidity management. Excluded are long-term bank bonds and short-term debt issued by non-financial enterprises or the government. This metric provides a specialized view of the banking sector's short-term liability profile.
Short-term bank debt is highly sensitive to prevailing money market conditions, interbank lending rates, and shifts in wholesale investor sentiment. Consequently, month-on-month figures display significant volatility as banks adjust short-term funding instruments to meet liquidity coverage ratios. Annual comparisons are recommended to filter out transient liquidity swings. A frequent misinterpretation is viewing bank short-term securities as equivalent to retail deposits; wholesale market instruments carry different risk profiles and respond much faster to monetary policy shifts.
Frequently asked questions
- What instruments form the core of short-term monetary financial institution debt?
- Certificates of deposit, short-term bank notes, and commercial paper issued by depository institutions comprise this category.
- What is the maximum original maturity included in this series?
- The original maturity must not exceed one year.
- Why do analysts monitor short-term bank debt closely during monetary tightening?
- It reveals how quickly banks adjust wholesale funding costs and manage short-term liquidity pressures.