Germany non-financial firms short-term debt assets
Germany non-financial firms short-term debt assets stood at 11 EUR billion in Q2 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 Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Non-financial corporations' financial accounts table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total financial assets | 9,148.6 | 9,041.6 | 8,997.8 | 8,935.4 | 8,920.8 | 8,897.9 | 8,799.9 | 8,830.2 | 8,703.2 | 8,745.1 | |
| Debt securities | 71.8 | 69.6 | 67.9 | 69.6 | 66.9 | 65.4 | 66.1 | 70 | 69.5 | 68.1 | |
| Short-term debt securities | 11 | 10.6 | 9.8 | 11.6 | 10.3 | 10.6 | 11.9 | 13.8 | 14.4 | 12.7 |
Understanding germany non-financial firms short-term debt assets
Money market instruments with an initial life span up to one year constitute this liquid portfolio segment. It encompasses commercial paper, treasury bills, and short-dated negotiable certificates of deposit. Long-term notes, marketable debentures, and unsecuritized short-term bank deposits are excluded. The series separates money market paper from long-term capital market investments within the debt securities category, highlighting marketable instruments held for short-term liquidity management.
Holdings of short-term debt instruments are closely tied to active corporate treasury strategies, as firms allocate cash into money market securities to generate yield while keeping maturities brief. Tracking year-on-year changes avoids distortions caused by quarterly treasury rebalancing around reporting periods. Because these instruments have short durations, market valuation changes driven by interest rate movements are minimal compared to long-term paper, though market pricing conventions still apply. Revisions arise when securities reporting reconciles short-term paper holdings across custody accounts. Analysts must not confuse changes in this row with total liquidity shifts, as enterprises regularly rotate funds between short-term debt paper and bank term deposits.
Frequently asked questions
- What instruments are classified as short-term debt securities here?
- The series includes negotiable paper with an original maturity of one year or less, such as commercial paper and treasury bills.
- How do short-term debt securities differ from short-term bank time deposits?
- Short-term debt securities are negotiable instruments tradeable in secondary money markets, whereas time deposits are non-negotiable bank agreements.
- Are these short-term instruments subject to heavy price revaluations?
- Price sensitivity to interest rate changes is low due to their short lifespan, keeping valuation swings modest compared to long-term bonds.