France net debt securities (seasonally adjusted): non-monetary FIs
France net debt securities (seasonally adjusted): non-monetary FIs stood at -1,948 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net issues of debt securities, seasonally adjusted | |||||||||||
| Non-monetary financial institutions, all maturities | -1,948 | -14,624 | 10,621 | 7,720 | -12,132 | 14,903 | 505 | -6,356 | 11,545 | 2,254 | |
| General government, all maturities | 9,566 | 10,528 | 15,595 | 17,152 | 22,477 | 18,838 | -8,067 | 43,148 | -17,003 | 10,246 |
Understanding france net debt securities (seasonally adjusted): non-monetary FIs
Specialized financial intermediaries outside the traditional banking sector, including investment funds, financial auxiliaries, and captive holding entities, generate the debt issuance flows monitored by this metric across all maturities combined. The scope includes both short-term money market paper and multi-year bonds issued by these non-bank financial corporations. Seasonal adjustment eliminates regular intra-year financing cycles typical of collective investment vehicles and specialized financing structures.
Evaluating this measure requires distinguishing between genuine corporate financing demand and the internal liquidity management of specialized investment funds. Analysts should be mindful of statistical reclassifications, which can shift entities between this category and monetary financial institutions or non-financial corporations. Comparing this sector with traditional banking issuance highlights the broader diversification of credit intermediation outside standard depository institutions.
Frequently asked questions
- Which entities are grouped under non-monetary financial institutions?
- Investment funds, asset management vehicles, and specialized financial intermediaries excluding traditional banks.
- Are all maturities combined in this specific series?
- Yes, both short-term and long-term debt securities are aggregated into a single net flow total.
- Why might institutional reclassifications impact this series?
- Changes in regulatory status can move large corporate entities between financial and non-financial categories, creating statistical breaks.