France debt securities outstanding: non-financial corps
France debt securities outstanding: non-financial corps stood at 828,847 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) | |||||||||||
| Non-financial corporations, all maturities | 828,847 | 829,663 | 826,793 | 825,688 | 823,020 | 811,864 | 815,505 | 816,028 | 804,292 | 815,464 | |
| Non-financial corporations, short-term | 63,516 | 64,139 | 64,170 | 66,405 | 68,099 | 62,629 | 62,536 | 61,610 | 57,659 | 68,805 |
Understanding france debt securities outstanding: non-financial corps
This series tracks the cumulative notional value of all negotiable debt instruments issued by business enterprises outside the financial sector, encompassing every maturity length. It measures the extent to which commercial and industrial enterprises utilize market-based debt finance as opposed to bank loans. Excluded from this count are financial intermediaries, public administration entities, and unquoted equity. Compared to broader aggregates that blend corporate borrowing with public debt and banking obligations, this metric isolates corporate sector leverage trends, highlighting how commercial entities tap capital markets for funding.
When evaluating these figures, analysts must account for corporate refinancing cycles and seasonal capital expenditure patterns that influence liability structures. Month-to-month movements can be volatile due to large individual corporate placements or sudden redemptions. Year-on-year comparisons offer a more reliable gauge of corporate reliance on securities markets. Care should be taken when analyzing this series alongside bank loan statistics, as corporations frequently substitute between market debt and traditional bank credit depending on prevailing lending conditions.
Frequently asked questions
- Which types of entities are classified under this corporate sector heading?
- It covers private and public commercial enterprises whose principal activity is the production of goods and non-financial services.
- Are commercial paper programs captured in this total?
- Yes, both short-term commercial paper and long-term corporate bonds issued by non-financial firms are included.
- How does this differ from bank credit statistics?
- This series strictly measures negotiable securities issued in capital markets, excluding bilateral loans negotiated directly with banks.