French bond investment funds short-term debt holdings
French bond investment funds short-term debt holdings stood at 29.91 EUR billion in Q2 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Securities held by residents table (Value · Quarterly), with a complete series running from Q4 2008 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Securities held by residents table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bond funds, outstanding amounts | |||||||||||
| Holdings of short-term debt securities | 29.91 | 28.68 | 31.86 | 29.57 | 29.13 | 30.05 | 23.71 | 11.38 | 11.09 | 9.78 | |
| Holdings of investment fund shares | 35.95 | 35.93 | 35.37 | 36.79 | 38.91 | 37.36 | 36.65 | 34.63 | 34.19 | 31.57 |
Understanding french bond investment funds short-term debt holdings
Short-term debt instruments and money market securities with an original maturity of one year or less, held as asset holdings by resident bond investment funds, are quantified here. This series isolates treasury bills, commercial paper, and short-term certificates of deposit owned by bond funds as liquidity reserves, excluding long-term bonds, equities, and cash deposits.
When reviewing these figures, analysts should note that short-term debt allocations fluctuate based on managers' liquidity requirements and expectations for interest rate movements. Revisions are rare and usually minor, stemming from late reporting by custodians. Period-on-period comparisons capture tactical adjustments in cash equivalents, whereas year-on-year analysis highlights structural changes in how bond funds manage short-term liquidity buffers.
Frequently asked questions
- Why do bond funds hold short-term debt instruments?
- They provide liquidity and stable yield while fund managers await better long-term bond purchasing opportunities.
- What is the maximum maturity for inclusion in this series?
- Only instruments with an original maturity of one year or less are classified here.
- How does this differ from cash deposits?
- Short-term debt securities are tradable market instruments, whereas deposits are direct bank account balances.