Euro area securities issues statistics: January 2011

Frankfurt am Main, (PresseBox) - The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 3.8% in January 2011, compared with 3.6% in December 2010. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate was 1.3% in January 2011, the same as in December 2010.

New issuance of debt securities by euro area residents totalled EUR 1,060 billion in January 2011 (see Table 1 and Chart 1). Redemptions stood at EUR 967 billion and net issues amounted to EUR 88 billion (see Table 1). [1] The annual growth rate of outstanding debt securities issued by euro area residents was 3.8% in January 2011, compared with 3.6% in December 2010 (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 7.5% in December 2010 to 7.2% in January 2011 (see Table 2 and Chart 4). For the monetary financial institutions (MFIs) sector, this rate of change was -0.1% in January 2011, compared with -0.3% in December 2010. The annual growth rate of outstanding debt securities issued by financial corporations other than MFIs was 2.4% in January 2011, compared with 2.2% in December 2010. For the general government, this growth rate was 7.5% in January 2011, compared with 7.4% in December 2010.

As regards the maturity breakdown, the annual rate of change of outstanding short-term debt securities was -6.1% in January 2011, compared with -6.7% in December 2010 (see Table 1 and Chart 3). The annual rate of change of outstanding short-term debt securities issued by MFIs was -2.6% in January 2011, compared with -5.6% in December 2010 (see Table 2). For long-term debt securities, the annual growth rate was 5.0% in January 2011, compared with 4.9% in December 2010 (see Table 1). The annual growth rate of outstanding long-term debt securities issued by MFIs was 0.3% in January 2011, compared with 0.5% in December 2010 (see Table 2). The annual growth rate of outstanding fixed rate long-term debt securities was 6.9% in January 2011, compared with 7.0% in December 2010 (see Table 1). The annual growth rate of outstanding variable rate long-term debt securities increased from 0.6% in December 2010 to 1.0% in January 2011.

Concerning the currency breakdown, the annual growth rate of outstanding euro-denominated debt securities was 3.9% in January 2011, compared with 3.7% in December 2010. For debt securities in other currencies, this growth rate decreased from 3.1% in December 2010 to 2.6% in January 2011 (see Table 1).

The seasonally adjusted three-month annualised growth rate of outstanding debt securities issued by euro area residents increased from 2.8% in December 2010 to 4.7% in January 2011 (see Table 3 and Chart 5).

New issuance of quoted shares by euro area residents totalled EUR 7.4 billion in January 2011 (see Table 4). As redemptions came to EUR 1.3 billion, net issues amounted to EUR 6.1 billion. The annual growth rate of the outstanding amount of quoted shares issued by euro area residents (excluding valuation changes) was 1.3% in January 2011, the same as in December 2010 (see Table 4 and Chart 6).

The annual growth rate of quoted shares issued by non-financial corporations was 0.6% in January 2011, compared with 0.7% in December 2010. For monetary financial institutions, the corresponding growth rate decreased from 6.5% in December 2010 to 6.2% in January 2011. For financial corporations other than MFIs, this growth rate increased from 0.6% in December 2010 to 1.8% in January 2011.

The outstanding amount of quoted shares issued by euro area residents totalled EUR 4,758 billion at the end of January 2011. Compared with EUR 4,243 billion at the end of January 2010, this represents an annual increase of 12.1% in the value of the stock of quoted shares in January 2011, up from 4.1% in December 2010.

Unless otherwise indicated, data relate to non-seasonally adjusted statistics. All euro area aggregates refer to euro area 17 (the euro area, including Estonia) for the whole time series. In addition to the developments for January 2011 and the change to euro area 17, this press release incorporates minor revisions to the data for previous periods. The annual growth rates are based on financial transactions that occur when an institutional unit incurs or redeems liabilities, they are not affected by the impact of any other changes which do not arise from transactions.

A complete set of updated securities issues statistics is available on the "Monetary and financial statistics" pages of the "Statistics" section of the ECB's website (http://www.ecb.europa.eu/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 January 2011 will also be published in the April 2011 issues of the ECB's Monthly Bulletin and Statistics Pocket Book. The next press release on euro area securities issues will be published on 12 April 2011.

[1] As a full breakdown of net issues into gross issues and redemptions may not always be available, the difference between
aggregated gross issues and redemptions may deviate from the aggregated net issues.

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