Germany non-financial firms long-term debt assets
Germany non-financial firms long-term debt assets stood at 59 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total financial assets | 9,068.5 | 9,037.1 | 8,978.4 | 8,920.8 | 8,897.9 | 8,799.9 | 8,830.2 | 8,703.2 | 8,745.1 | 8,601.7 | |
| Debt securities | 69.6 | 67.9 | 69.6 | 66.9 | 65.4 | 66.1 | 70 | 69.5 | 68.1 | 62.1 | |
| 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 long-term debt assets
Longer-dated marketable notes and fixed-income paper with an initial term exceeding one year are grouped under this asset line. It includes holdings of sovereign bonds, corporate bonds, and covered mortgage bonds purchased by non-financial enterprises or their treasury arms. Short-term commercial paper, money market bills, and bilateral loan claims are excluded. This row captures extended-duration debt investments, differentiating them from short-dated money market holdings and illiquid loan contracts.
Valued at market prices, this series is highly sensitive to bond yield movements; falling bond yields push market values upward, whereas rising interest rates compress portfolio valuations without any active sale of securities. Annual comparisons give a far clearer view of investment trends than quarter-on-quarter changes, which are often swayed by bond market repricing. Revisions take place when security-by-security custody data updates the identification of non-financial corporate holders. Analysts should be careful not to mistake movements in this asset row for changes in the enterprise sector's own long-term borrowing, which is recorded under liabilities.
Frequently asked questions
- What types of bonds are captured within this long-term aggregate?
- It includes marketable government, financial, and corporate bonds with an initial maturity greater than one year.
- Why can the balance of long-term debt assets fluctuate without any trading activity?
- Because the securities are marked to market, fluctuations in prevailing bond yields and credit spreads automatically alter the reported asset value.
- Does this measure reflect corporate bond issuance?
- No, this series records bonds held as investments by non-financial corporations, not the bonds they issue to raise financing.