France non-resident debt securities held by residents
France non-resident debt securities held by residents stood at 2,530,434 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 Q4 2017 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt securities issued by non-residents and held by residents5 | 2,530,434 | 2,443,137.5 | 2,367,279.2 | 2,391,304.9 | 2,342,289.4 | 2,279,941.7 | 2,197,350.4 | 2,192,134.7 | 2,134,848 | 2,127,711.2 | |
| Non-financial corporations | 177,949.4 | 172,458.6 | 173,106.6 | 173,267 | 161,527.6 | 163,407.1 | 175,734.3 | 166,513.1 | 166,687.8 | 166,385.7 | |
| Financial corporations | 2,320,166.9 | 2,238,152.1 | 2,149,388.9 | 2,177,544.9 | 2,139,349.3 | 2,078,591.1 | 1,983,766.4 | 1,973,785.3 | 1,908,062.7 | 1,903,462.5 |
Understanding france non-resident debt securities held by residents
Cross-border fixed-income claims acquired by domestic entities quantify external debt instruments issued abroad and held within the national jurisdiction. Unlike instruments floated by domestic entities, this metric focuses entirely on foreign debt ownership by local residents, encompassing sovereign, corporate, and financial obligations originating outside the domestic market. It bridges domestic savings allocation with global capital markets by tracking how much foreign credit resides within local portfolios.
Evaluating these external holdings involves adjusting for currency fluctuations, as foreign-denominated bonds experience valuation shifts independent of underlying asset transactions. Year-on-year comparisons offer better clarity than quarter-on-quarter changes by smoothing out short-term portfolio rebalancing and exchange rate volatility. Analysts should avoid treating this series as a direct proxy for domestic market liquidity, given that external instruments carry distinct credit risk profiles and settlement mechanisms.
Frequently asked questions
- What kinds of instruments are included in foreign debt held by residents?
- The measure covers sovereign bonds, municipal notes, and corporate debt securities issued by foreign entities and owned by domestic residents.
- How do exchange rate movements impact this series?
- Fluctuations in currency exchange rates alter the reported value of foreign holdings even when no underlying transactions occur.
- Why look at foreign debt holdings instead of domestic securities?
- This metric reveals how domestic investors diversify their portfolios across international jurisdictions and foreign risk exposures.