Euro area securities issues statistics: october 2008

(PresseBox) (Frankfurt am Main, ) The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 7.0% in October 2008, compared with 7.1% in September. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate was 0.7% in October 2008, the same as in September.

New issuance of debt securities by euro area residents totalled EUR 1,493 billion in October 2008 (see Table 1 and Chart 1). As redemptions came to EUR 1,348 billion, net issues amounted to EUR 145 billion (see Table 1). The annual growth rate of outstanding debt securities issued by euro area residents was 7.0% in October 2008, compared with 7.1% in September (see Table 1 and Chart 3).

As regards the sectoral breakdown, the annual growth rate of outstanding debt securities issued by nonfinancial corporations decreased from 5.6% (revised) in September 2008 to 3.9% in October (see Table 2 and Chart 4). For the monetary financial institutions (MFIs) sector, this growth rate decreased from 6.9% in September 2008 to 5.4% in October. The annual growth rate of outstanding debt securities issued by financial corporations other than MFIs decreased from 24.6% in September 2008 to 21.7% in October. For the general government, this growth rate increased from 2.6% in September 2008 to 4.8% in October.

As regards the maturity breakdown, the annual growth rate of outstanding short-term debt securities increased from 18.3% in September 2008 to 20.4% in October (see Table 1 and Chart 3). The annual growth rate of outstanding short-term debt securities issued by MFIs decreased from 17.5% to 10.9% during the same period (see Table 2). For long-term debt securities, the annual growth rate decreased from 5.7% in September 2008 to 5.3% in October. The annual growth rate of outstanding long-term debt securities issued by MFIs decreased from 5.1% to 4.4% during the same period. The annual growth rate of outstanding fixed rate long-term debt securities decreased from 3.1% in September 2008 to 2.8% in October. The annual growth rate of outstanding variable rate long-term debt securities decreased from 12.3% in September 2008 to 11.8% in October.

Concerning the currency breakdown, the annual growth rate of outstanding euro-denominated debt securities was 7.5% in October 2008, compared with 7.4% in September. For debt securities in other currencies, this growth rate decreased from 4.4% in September 2008 to 2.8% in October (see Table 1).

The seasonally adjusted three-month annualised growth rate of outstanding debt securities issued by euro area residents was 8.3% in October 2008, compared with 8.2% in September (see Table 3 and Chart 5). For short-term debt securities issued by MFIs, this growth rate was -9.4% in October 2008, compared with 5.6% in September.

New issuance of quoted shares by euro area residents totalled EUR 12.8 billion in October 2008 (see Table 4). As redemptions came to EUR 0.6 billion, net issues amounted to EUR 12.2 billion. The annual growth rate of the outstanding amount of quoted shares issued by euro area residents (excluding valuation changes) was 0.7% in October 2008, the same as in September (see Table 4 and Chart 6). The annual growth rate of quoted shares issued by non-financial corporations was -0.1% in October 2008, compared with 0.0% in September. For monetary financial institutions, it increased from 3.7% in September 2008 to 4.2% in October. For financial corporations other than MFIs, this growth rate increased from 2.6% in September 2008 to 2.8% in October.

The outstanding amount of quoted shares issued by euro area residents totalled EUR 3,734 billion at the end of October 2008. Compared with EUR 6,937 billion at the end of October 2007, this represents an annual decrease of 46.2% in the value of the stock of quoted shares in October 2008, compared with an annual decrease of 33.9% in September, mainly due to market valuation changes.

Unless specified otherwise, data relate to non-seasonally adjusted statistics. In addition to the developments for October 2008, this press release incorporates revisions to the data for previous periods - following a reclassification in the time series reported by one Member State, data for general government, other financial corporations and non-financial corporations have been revised. A complete set of updated securities issues statistics is available on the "Money, banking and financial markets" pages of the "Statistics" section of the ECB's website (http://www.ecb.int/stats/money/securities/html/index.en.html). These data, as well as euro area data in accordance with the composition of the euro area at the time of the reference period, can be downloaded using the ECB's Statistical Data Warehouse (SDW).

Data for the period up to October 2008 will also be published in the January 2009 issues of the ECB's Monthly Bulletin and Statistics Pocket Book. The next press release on euro area securities issues will be published on 19 January 2009.

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