Germany household money-market fund shares
Germany household money-market fund shares stood at 57.4 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity and investment fund shares | 3,084.5 | 3,132.7 | 3,070.3 | 2,994.1 | 2,902.7 | 2,868.8 | 2,791 | 2,734.1 | 2,704.6 | 2,580.3 | |
| Investment fund shares | 1,318.6 | 1,315.6 | 1,272.5 | 1,209.7 | 1,165.9 | 1,167.5 | 1,102.2 | 1,064.6 | 1,036.9 | 962.7 | |
| Money-market fund shares | 57.4 | 55.9 | 54.9 | 52.5 | 48.8 | 41.6 | 20.7 | 11.4 | 9.3 | 7.9 |
Understanding germany household money-market fund shares
Short-duration liquid fund units designed as cash equivalents and liquidity buffers make up this specific row. It tracks household investments in collective investment funds that place capital exclusively in high-quality, short-term debt instruments, repurchase agreements, and bank deposits. This separates liquid cash management funds from sibling non-money-market funds covering equities, fixed income, and real estate. Unlike longer-term mutual funds, money-market funds prioritize capital preservation and liquidity over capital appreciation. Direct bank deposits, such as overnight balances and term accounts, are excluded and recorded in the deposit accounts of the financial balance sheet.
Interpreting movements in money-market fund balances requires viewing them alongside prevailing short-term interest rates and retail bank deposit yields. Household allocations to these vehicles respond to the spread between fund yields and standard deposit rates. Revaluation effects are minimal because underlying instruments have short residual maturities, meaning quarter-on-quarter changes almost entirely reflect net inflows and redemptions rather than asset price shocks. Seasonal shifts are mild, though corporate tax and bonus dates can produce modest intra-year cash movements. Revisions are infrequent and typically modest, stemming from routine updates in custodial surveys. Comparing year-on-year highlights broader shifts in cash management strategies across economic cycles.
Frequently asked questions
- How do money-market fund shares differ from bank term deposits?
- Money-market fund shares represent investments in pooled short-term debt instruments, whereas term deposits are direct creditor claims against a single banking institution.
- Are money-market funds subject to market price fluctuations?
- Price movements are minimal because the underlying assets have very short maturities, making recorded changes reflect net cash flows rather than capital revaluations.
- Can private individuals hold institutional money-market funds?
- The series captures all money-market fund certificates held in household accounts, whether structured as retail funds or accessible via wealth management services.