France external assets: portfolio investment debt securities
France external assets: portfolio investment debt securities stood at 2,530,434 EUR million in Q2 2026, according to Eurostat – international investment position by country (bop_iip6_q), compiled by Banque de France. It is one of the indicators in the International investment position table (Value · Quarterly), with a complete series running from Q1 1999 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the International investment position table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt securities2 | 2,530,434 | 2,443,138 | 2,367,279 | 2,391,305 | 2,342,289 | 2,279,942 | 2,197,350 | 2,192,135 | 2,134,848 | 2,127,711 | |
| Short-term debt securities | 249,623 | 253,253 | 238,501 | 252,064 | 270,469 | 257,297 | 242,460 | 244,176 | 263,051 | 281,229 | |
| Long-term debt securities | 2,280,811 | 2,189,885 | 2,128,778 | 2,139,241 | 2,071,821 | 2,022,645 | 1,954,891 | 1,947,959 | 1,871,797 | 1,846,482 |
Understanding france external assets: portfolio investment debt securities
Tradable bonds, notes, and money market instruments issued by foreign entities and held by domestic residents form this specific component of cross-border claims. The scope covers both short-term bills and long-term debt securities, capturing negotiable obligations that pay specified interest or are sold at a discount without granting ownership rights in the issuing entity. This series isolates fixed-income debt from equity shares and investment fund units captured elsewhere within portfolio holdings, providing a focused view of international lending through capital markets.
Tracking these positions involves accounting for coupon payments, amortization schedules, and daily price adjustments across international bond markets. Early quarterly estimates are subject to revision as custodians adjust security-by-security databases and refine issuer residency classifications. Analysts examining these figures should distinguish between shifts caused by primary market transactions and those resulting from interest rate changes affecting existing bond valuations. Comparing this component against total portfolio assets reveals the relative preference for debt instruments versus equities in cross-border allocations.
Frequently asked questions
- What instruments are included in portfolio debt securities assets?
- The series includes negotiable bonds, notes, debentures, and money market instruments issued by non-residents and held by domestic investors.
- Do these debt holdings include loans extended to foreign entities?
- No, loans are non-negotiable financial instruments and are classified under other investment categories rather than portfolio debt securities.
- How do interest rate movements impact this series?
- Rising interest rates typically reduce the market price of existing fixed-rate bonds, lowering the reported valuation of the asset stock even if the quantity of securities remains unchanged.