France resident debt securities holdings: non-residents
France resident debt securities holdings: non-residents stood at 3,536,456.8 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 all residents | 6,028,984.4 | 5,890,042.8 | 5,753,415.7 | 5,844,081 | 5,768,599.5 | 5,681,707 | 5,626,374.9 | 5,651,749 | 5,513,061.1 | 5,481,132 | |
| Held by non-residents | 3,536,456.8 | 3,371,839.4 | 3,258,117.2 | 3,281,676.6 | 3,227,745.7 | 3,152,613.9 | 3,137,754.8 | 3,126,898.3 | 3,041,770.1 | 3,008,016.1 | |
| Held by residents | 2,492,527.6 | 2,518,203.4 | 2,495,298.5 | 2,562,404.4 | 2,540,853.9 | 2,529,093 | 2,488,620.1 | 2,524,850.6 | 2,471,291 | 2,473,115.9 |
Understanding france resident debt securities holdings: non-residents
Quantifying external sovereign and corporate debt exposure, this series measures the total nominal volume of resident-issued debt securities owned by investors domiciled outside the national economic territory, expressed in millions of national currency. It tracks the absolute monetary value of domestic bonds and short-term paper held abroad, distinguishing cross-border capital liabilities from domestically absorbed debt. The calculation aggregates foreign holdings across all issuing resident sectors, including government bonds and corporate debt instruments.
When evaluating these figures, analysts must account for exchange rate fluctuations that revalue foreign-currency-denominated debt held abroad, as well as cross-border portfolio adjustments driven by global interest rate differentials. Quarter-on-quarter changes can be heavily influenced by sudden shifts in global risk sentiment and international capital flows, making year-on-year growth rates more informative for identifying structural trends. Comparisons with total resident issuance reveal the exact degree of external dependency in domestic debt markets.
Frequently asked questions
- Does this series cover both government and corporate debt held by non-residents?
- Yes, it aggregates all resident-issued debt securities held abroad across government, financial, and non-financial issuers.
- How do exchange rate movements affect this EUR million figure?
- A depreciating domestic currency increases the reported nominal value of foreign-held debt denominated in foreign currencies.
- Is this series adjusted for inflation?
- No, figures are presented in nominal millions of national currency without adjustment for domestic price inflation.