France external assets: portfolio short-term debt securities
France external assets: portfolio short-term debt securities stood at 249,623 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio investment | 4,123,437 | 3,853,304 | 3,824,527 | 3,754,324 | 3,641,226 | 3,507,627 | 3,459,304 | 3,385,838 | 3,299,723 | 3,256,395 | |
| Debt securities | 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 |
Understanding france external assets: portfolio short-term debt securities
Marketable debt instruments with original maturities of one year or less issued by non-residents and held domestically constitute this specialized money market measure. Unlike long-term bonds or equities, these claims focus exclusively on short-term liquidity instruments such as commercial paper, treasury bills, and short-term certificates of deposit, excluding longer-dated securities and direct loans. Market observers utilize these figures to track how resident investors allocate liquid funds across international money markets.
Because these instruments mature rapidly, turnover is exceptionally high, making quarterly snapshots sensitive to timing around quarter-end issuance and redemption cycles. Early estimates often rely on partial banking and custodial reports, leading to revisions in subsequent statistical releases. Analysts should evaluate these short-term holdings alongside cash deposit data to understand total cross-border liquidity management.
Frequently asked questions
- What is the maximum maturity for instruments in this category?
- Only instruments with an original maturity of one year or less are included.
- Are treasury bills included in short-term debt securities?
- Yes, short-term government paper like treasury bills forms a core part of this category.
- Why might these figures fluctuate rapidly between quarters?
- High turnover and rapid maturities mean quarter-end redemption and issuance cycles heavily influence the recorded balance.