Germany government financial asset flows
Germany government financial asset flows stood at -9.9 EUR billion in Q2 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 Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the General government financial accounts table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total financial assets7 | -9.9 | 28.2 | 0.5 | 8.8 | 32.2 | -8.1 | -12.4 | -0.4 | -22.7 | -11.8 | |
| Currency and deposits | 8.4 | 4 | 6.7 | -0.2 | 26.1 | 1 | -14.7 | -1.7 | -17.4 | -9.5 | |
| Debt securities | 3.6 | 3 | 6.5 | 2.6 | 3 | 1.3 | -1 | 0.9 | 0 | 3.5 |
Understanding germany government financial asset flows
Net acquisitions of all financial assets conducted by general government entities throughout the reference quarter are measured in this overarching transaction flow series. Covering transactions across currency, deposits, debt securities, loans, equity shares, investment fund units, and accounts receivable, the metric reflects the net balance of assets purchased or extended minus assets sold, redeemed, or liquidated. In sharp contrast to the balance sheet stock series, this flow measure isolates deliberate financial economic transactions from holding gains, losses, and market price fluctuations. It represents the asset side of government financing operations across federal, state, local, and social insurance subsectors.
Because flow data capture actual quarterly portfolio movements, they exhibit strong quarterly seasonality linked to annual budget execution cycles, liquidity buffers built ahead of bond redemption dates, and seasonal tax receipts. Evaluating transactions on a year-on-year basis or alongside the government net lending/borrowing balance offers the most cohesive analytical picture. A common pitfall is attempting to calculate quarterly flows simply by subtracting consecutive balance sheet asset stocks; doing so conflates actual transactions with market valuation swings and statistical reclassifications that are strictly purged from this flow series.
Frequently asked questions
- How does a transaction flow differ from the change in balance sheet asset stocks?
- Transaction flows record only the actual purchase and sale of financial assets, explicitly excluding changes in stock value caused by market price movements or exchange rate swings.
- What does a negative figure in this series indicate?
- A negative value indicates that general government entities liquidated, sold, or withdrew more financial assets during the quarter than they acquired.
- Which asset classes are included within this total flow metric?
- It encompasses net transactions across currency, bank deposits, debt securities, loans extended to third parties, equity shares, investment fund units, and accounts receivable.