France short-term state debt: money market funds
France short-term state debt: money market funds stood at 3,052.4 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Financial corporations | 44,486.61 | 31,546.8 | 31,515.96 | 37,135.85 | 34,851.65 | 36,136.72 | 23,928.57 | 25,458.63 | 30,806.65 | 30,632.69 | |
| Monetary financial institutions | 21,979.71 | 15,295.35 | 16,257.08 | 19,590.83 | 16,882.07 | 16,541.19 | 8,917 | 15,139.57 | 20,860.42 | 19,716.76 | |
| Money market funds | 3,052.4 | 2,828.12 | 3,733.53 | 2,988.65 | 2,677.41 | 1,666.67 | 3,042.71 | 4,045.57 | 3,396.45 | 2,761.84 |
Understanding france short-term state debt: money market funds
Collective investment vehicles specializing in high-quality, short-duration money market instruments hold the nominal value of short-term state debt securities within their asset pools. This metric captures specialized investment funds designed to offer daily liquidity and capital preservation to institutional and retail investors, while excluding traditional bond funds, equity funds, and direct bank portfolios. Treasury bills form a core component of their asset allocation.
Evaluating money market fund holdings requires attention to interest rate cycles and institutional cash management shifts, which drive inflows and outflows into these vehicles. Quarter-on-quarter comparisons can be highly sensitive to seasonal corporate cash sweeps and shifts between bank deposits and fund shares. Analysts must avoid treating money market funds as equivalent to commercial banks, as funds pass market yields directly to investors without holding traditional customer loans. Revisions generally arise from updated fund asset valuation and administrative reports.
Frequently asked questions
- What is the primary investment objective of money market funds?
- Funds focus on capital preservation, high liquidity, and short-term yield generation for investors.
- Are long-term bond mutual funds included in this category?
- No, non-money market investment funds are segregated into a different asset classification.
- Why do money market fund holdings experience rapid shifts?
- Institutional cash managers quickly reallocate funds between bank deposits and money market shares based on yield spreads.