France short-term state debt share: money market funds
France short-term state debt share: money market funds stood at 1.39% 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 | 20.33 | 15.58 | 16.2 | 18.63 | 17 | 18.38 | 11.99 | 13.13 | 15.87 | 17.03 | |
| Monetary financial institutions | 10.04 | 7.55 | 8.36 | 9.83 | 8.24 | 8.41 | 4.47 | 7.81 | 10.74 | 10.96 | |
| Money market funds | 1.39 | 1.4 | 1.92 | 1.5 | 1.31 | 0.85 | 1.52 | 2.09 | 1.75 | 1.54 |
Understanding france short-term state debt share: money market funds
Collective investment undertakings that specialize in low-risk, short-duration money market instruments hold a fractional share of short-term state debt. This series focuses exclusively on money market funds, omitting long-term bond funds, equity funds, and traditional commercial banks. It measures how much short-term sovereign paper is packaged into liquid collective investment vehicles available to retail and institutional investors. The scope excludes non-money market investment funds to maintain a strict focus on cash-equivalent products.
Evaluating these figures requires accounting for interest rate cycles, as money market fund assets expand or contract rapidly depending on how their yields compare against retail bank deposit rates. Period-on-period percentages show immediate shifts in cash-sorting behavior by investors, whereas annual trends reflect broader savings industry developments. Analysts must avoid assuming that money market fund holdings represent direct household ownership, as many institutional cash pools utilize these funds for treasury management.
Frequently asked questions
- What defines a money market fund in the context of debt securities holders?
- Money market funds are collective investment schemes that invest exclusively in short-term, high-quality debt instruments to maintain stable principal values.
- How do money market funds differ from traditional credit institutions?
- Funds offer investment shares in a pool of assets rather than taking direct retail bank deposits, though both provide high liquidity.
- Why would money market fund debt shares shift rapidly between quarters?
- Investors quickly move capital into or out of money market funds depending on whether fund yields outpace commercial bank deposit rates.