Germany government assets in transferable deposits
Germany government assets in transferable deposits stood at 91.9 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the General government 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 General government financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total financial assets | 2,084.8 | 2,021.1 | 1,968.2 | 1,906.8 | 1,878.4 | 1,836.8 | 1,834 | 1,780.8 | 1,791.7 | 1,767.7 | |
| Currency and deposits | 379 | 361.3 | 374.1 | 374.4 | 348.3 | 347.4 | 361.4 | 362.7 | 380 | 389.4 | |
| Transferable deposits | 91.9 | 94.6 | 88.9 | 94.2 | 91.1 | 97 | 93.7 | 97.6 | 91 | 96 |
Understanding germany government assets in transferable deposits
Immediately spendable bank balances that public entities can transfer directly by electronic payment or convert into cash on demand define this asset class. The row includes overnight accounts, checking facilities, and sight deposits held by all tiers of administration at monetary financial institutions. It excludes physical currency held in treasury safes, fixed-term deposit arrangements, savings books, and marketable securities. While sibling rows within the deposit hierarchy capture funds locked away for agreed durations to earn interest, this series measures operational working capital designated for immediate public disbursements such as payroll, vendor settlements, and social transfers.
Day-to-day cash pooling and treasury sweep operations make this measure exceptionally volatile across reporting periods. Public administrations regularly shift balances between overnight accounts and interest-bearing term deposits depending on short-term money market rates and anticipated cash disbursements. Evaluating changes against the corresponding period of the preceding year is therefore more meaningful than quarter-on-quarter comparisons, which are heavily distorted by seasonal tax calendars and month-end disbursement schedules. Early balance sheet entries are subject to adjustments as local government reporting is integrated. A sharp reduction in these balances typically reflects active liquidity deployment or balance relocation rather than a structural fiscal deficit.
Frequently asked questions
- Which banking institutions hold these operational deposits?
- Balances are distributed across accounts held at central banking authorities as well as commercial credit institutions that provide payment services to public entities.
- How do transferable deposits differ from other deposits on the balance sheet?
- Transferable deposits are immediately accessible for payments by bank transfer or cheque without penalty, whereas other deposits are locked into fixed maturities or notice periods.
- Does a decline in transferable deposits imply that government revenue has decreased?
- Not necessarily, because treasury managers often shift surplus cash into interest-bearing time deposits or use liquid reserves to redeem maturing debt obligations.