Germany household debt securities
Germany household debt securities stood at 230.7 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Household 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 Household financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt securities2 | 230.7 | 225.9 | 221.8 | 214.3 | 213 | 210.1 | 215.7 | 213.3 | 206.9 | 198.2 | |
| Short-term debt securities | 7.5 | 7.1 | 8.2 | 9.6 | 11.2 | 11.3 | 15 | 16.9 | 18.4 | 12.5 | |
| Long-term debt securities | 223.2 | 218.8 | 213.6 | 204.7 | 201.9 | 198.9 | 200.6 | 196.4 | 188.5 | 185.7 |
Understanding germany household debt securities
Negotiable debt instruments held as assets by households form the content of this aggregate, encompassing government bonds, corporate debentures, bank debt securities, and commercial paper. The series requires that instruments be legally transferable and capable of trading on secondary securities markets. It completely excludes non-negotiable bank deposits, savings certificates, and loan claims, serving as the parent grouping for both short-term money market paper and long-term bond holdings within the household sector.
Outstanding values are recorded at current market prices at the end of each quarter rather than nominal par value. As a result, quarter-on-quarter movements interweave genuine net purchases or sales by households with mark-to-market revaluations caused by interest rate fluctuations. Year-on-year comparisons provide a clearer picture of structural portfolio allocation, though decomposing changes into transactions and price effects is necessary for precise interpretation. Caution is warranted when comparing this aggregate with deposit series: a shift in bond yields affects the value of this series instantly via pricing adjustments, whereas deposit values remain constant at face value.
Frequently asked questions
- Are debt securities recorded at nominal value or market value?
- Debt securities are reported at market value based on prevailing secondary market prices at the end of each accounting quarter.
- What issuers are represented in the debt securities held by households?
- The holding total includes bonds issued by sovereign governments, public agencies, domestic and foreign corporations, and financial institutions.
- Why might total debt security assets decline even if households bought more bonds?
- Rising market interest rates can depress secondary bond prices, resulting in valuation losses that outweigh net household bond acquisitions.