Germany non-financial firms debt securities assets
Germany non-financial firms debt securities assets stood at 69.6 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Non-financial corporations' 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 Non-financial corporations' 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 | 69.6 | 67.9 | 69.6 | 66.9 | 65.4 | 66.1 | 70 | 69.5 | 68.1 | 62.1 | |
| Short-term debt securities | 10.6 | 9.8 | 11.6 | 10.3 | 10.6 | 11.9 | 13.8 | 14.4 | 12.7 | 9.8 | |
| Long-term debt securities | 59 | 58.1 | 58 | 56.6 | 54.7 | 54.2 | 56.3 | 55.1 | 55.4 | 52.3 |
Understanding germany non-financial firms debt securities assets
Negotiable debt instruments held as financial assets by resident non-financial corporations are captured in this aggregate. It covers commercial paper, treasury bills, corporate bonds, government notes, and covered bonds acquired across domestic and foreign issuance markets. Non-negotiable bank deposits, bilateral business loans, and equity investments are excluded. This category separates tradeable fixed-income instruments from non-marketable credit assets like loans, capturing the overall marketable debt portfolio held by corporate enterprises.
Unlike bank deposits, debt securities are recorded at market prices, meaning changes in the outstanding balance reflect a mix of transaction flows and mark-to-market valuation adjustments. A decline in market yields increases the value of fixed-rate holdings, whereas rising interest rates depress the stock even without bond sales. Year-on-year comparisons provide a more reliable assessment than quarterly figures, which are often buffeted by short-term financial market volatility. Revisions take place as security-by-security databases update counterparty sector attributions. A critical pitfall is conflating these asset holdings with the debt securities issued by non-financial corporations as liabilities on the opposing side of the balance sheet.
Frequently asked questions
- Does this series track the bonds issued by non-financial firms or the bonds they own?
- This series exclusively measures the debt securities owned as financial assets by non-financial corporations, not their issued debt liabilities.
- How does secondary market price volatility influence this series?
- Holdings are valued at market prices, so shifts in benchmark yields and credit spreads directly alter the reported balance.
- What types of debt paper are combined in this total?
- The row brings together short-term money market paper and long-term bonds issued by governments, banks, and other corporations.