France long-term state debt: resident monetary institutions
France long-term state debt: resident monetary institutions stood at 703,810.78 EUR million in Q2 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Debt securities holders table (Value · Quarterly), with a complete series running from Q1 2008 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Debt securities holders table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Monetary financial institutions3 | 703,810.78 | 731,525.44 | 758,222.9 | 773,739.14 | 772,503.29 | 773,216.53 | 792,895.86 | 801,315.16 | 759,288.79 | 771,664.02 | |
| Central bank | 443,579.16 | 469,142.91 | 490,988.34 | 515,475.56 | 512,866.81 | 531,693.81 | 558,837.62 | 575,589.31 | 562,753.24 | 583,462.93 | |
| Credit institutions | 260,176.44 | 262,382.21 | 267,075.33 | 258,263.58 | 259,636.48 | 241,522.72 | 234,058.24 | 225,725.85 | 196,485.18 | 187,981.3 |
Understanding france long-term state debt: resident monetary institutions
This series captures the aggregate holdings of long-term state debt securities held by resident monetary financial institutions, uniting central banking entities and deposit-taking credit institutions into a single monetary sector total. It measures the total exposure of the domestic banking system to long-term sovereign paper, excluding non-monetary investment funds, insurance companies, and all non-resident lenders. This overarching banking category highlights the structural link between monetary authorities, commercial banks, and government debt issuance.
When evaluating monetary institution holdings, analysts must account for the distinct policy-driven motives of the central bank versus the commercial profit-seeking motives of deposit-taking lenders. Quarter-on-quarter variations often reflect large-scale monetary policy interventions, such as asset purchase programs or refinancing operations. Revisions are infrequent for this highly regulated sector, but reclassifications between credit institutions and central bank accounts can create historical data breaks. A frequent analytical mistake is conflating commercial bank liquidity buffers with central bank monetary policy portfolios when reviewing the combined monetary sector total.
Frequently asked questions
- What entities are combined within monetary financial institutions?
- The central bank together with resident deposit-taking credit institutions and commercial banks.
- How do monetary policy programs affect this series?
- Central bank asset purchases and commercial bank liquidity operations directly alter the volume of long-term state securities held by this sector.
- Are money market funds included in this monetary grouping?
- No, money market funds are tracked in a separate sub-category distinct from monetary financial institutions.