Germany government liabilities in currency and deposits
Germany government liabilities in currency and deposits stood at 18 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency and deposits2 | 18 | 18.3 | 18.7 | 16.7 | 14.7 | 14.8 | 16.8 | 15.5 | 14.8 | 16.9 | |
| Transferable deposits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Other deposits | 18 | 18.3 | 18.7 | 16.7 | 14.7 | 14.8 | 16.8 | 15.5 | 14.8 | 16.9 |
Understanding germany government liabilities in currency and deposits
Coins minted under federal authority alongside non-negotiable balances lodged directly with public treasuries make up this liability category. In national accounting frameworks, the issuance of legal tender coinage represents a direct financial obligation of the sovereign rather than the monetary authority. The category also encompasses deposits accepted from outside institutional units, supranational entities, and financial corporations. Sibling liability rows capture negotiable paper, syndicated bank facilities, trade credits, and employee pension commitments; this line isolates only monetary and deposit commitments. Banknotes are entirely excluded, as they belong on the balance sheet of the central banking system.
Evaluating this stock requires attention to closing balances recorded at the end of each reporting period. Year-on-year comparisons provide a clearer gauge of persistent structural shifts than quarter-on-quarter movements, which frequently reflect transitory liquidity management and tax collection timing across public administrations. Revisions are standard as administrative records from municipal tiers and decentralized agencies are finalized. Changes in institutional classification can also shift entities into or out of general government, creating statistical breaks in the series. Analysts should avoid equating this narrow figure with broader headline public debt metrics, which focus predominantly on market-issued bonds and direct bank loans.
Frequently asked questions
- Why does general government have currency liabilities instead of the central bank?
- Coinage is issued under the authority of the central state, making circulating coins a direct sovereign liability on the public balance sheet. Banknotes, by contrast, are obligations of the monetary authority and are excluded.
- What types of deposits are included under government liabilities?
- This category covers funds lodged directly with administrative treasuries by other sectors, international institutions, and public entities outside the general government boundary. Sibling rows capture funds raised through debt securities or standard bank loans.
- How does this liability balance differ from headline sovereign debt?
- Standard headline debt definitions prioritize marketable securities and loan obligations, whereas these balances reflect non-negotiable deposit facilities and minted coin issuance. Certain deposit liabilities may be treated differently or omitted under specific fiscal reporting rules.