German non-financial corporate currency and deposit flows
German non-financial corporate currency and deposit flows stood at -29.3 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Non-financial corporations' financial accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Non-financial corporations' financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency and deposits3 | -29.3 | 36.1 | 38.5 | -11.7 | -34 | 36.9 | 36 | -8.9 | -14.4 | 11.7 | |
| Currency | -1 | 0.9 | 0 | 0.1 | -1.3 | 0.8 | 0.2 | -0.3 | -0.4 | 0.2 | |
| Transferable deposits | -27.9 | 31.1 | 23.8 | 3.2 | -29 | 33.5 | 25.6 | 3.7 | -31.6 | 9.8 |
Understanding german non-financial corporate currency and deposit flows
Combined net quarterly additions to physical notes, coin, and institutional bank deposits are monitored through this transactional flow. The series encompasses non-financial corporations' net additions to vault cash as well as deposits placed across transferable checking accounts, time deposit facilities, savings deposits, and registered savings certificates. It excludes investments in tradable securities, equity holdings, and trade credit extended to customers. By consolidating all cash and deposit types, this series captures the full scope of corporate liquid monetary accumulation, serving as the parent aggregate for lower-level deposit breakdowns.
Intra-annual seasonality strongly affects corporate deposit transactions, as enterprises routinely accumulate cash reserves ahead of scheduled corporate tax deadlines, profit distributions, and inventory investments. Quarter-on-quarter readings therefore capture operational cash swings, whereas year-on-year evaluations provide a truer reflection of structural corporate liquidity building. Revisions occur as banking system reporting returns are audited and finalized. Users should recognize that this series tracks net flows rather than changes in total deposit balances, meaning exchange-rate fluctuations on foreign-currency bank accounts are purged from the transaction figures.
Frequently asked questions
- What financial instruments are included in currency and deposit transactions?
- The aggregate includes physical currency in vaults, overnight transferable deposits, fixed-term time deposits, savings accounts, and non-negotiable savings certificates.
- Why might quarterly deposit flows turn negative?
- Negative values occur when non-financial corporations withdraw more cash from bank accounts to fund operations, taxes, or investments than they deposit.
- Are foreign currency deposits included in this transactional measure?
- Yes, deposits denominated in foreign currencies are included, but valuation changes caused by exchange rate movements are excluded from the transaction flow.