Financial debt securities

In addition to borrowing from financial institutions and equity financing, the non-financial sector finances itself by issuing debt securities.
 
Debt security issues are monitored using issuers’ reporting; debt security holdings are monitored using custodian account statements. 

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French security issues and holdings

Securities custody

According to the definition of the Autorité des Marchés Financiers (Financial Markets Authority), custody-account keeping consists in recording financial securities in an account opened in the name of the account holder. The Banque de France's Directorate General Statistics collects data from custody account keepers in order to draw up financial accounts and the balance of payments.

The outstanding amount of securities held by custody account keepers are collected on a quarterly basis.

Protide data collection

Data on the portfolios of natural persons is also collected annually from the same custody account keepers: this covers all the securities held by households or individual entrepreneurs in accounts with the declarants; data on the breakdown of these individual portfolios by socio-professional category, the age of the holder and the value of the portfolios are collected.

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Nota Bene: the data on holdings as they appear in these activity statistics are likely to differ from those in the financial accounts, albeit by a small margin (of less than 5% in the past). Indeed, the scope is slightly narrower than that of the financial accounts, which cover all agents' financial assets. Certain categories of securities - such as employee savings plans and derivatives - are not included in the reports made by custody account keepers. In addition, with the exception of credit institutions and collective investment schemes, the information sent by French custody account keepers does not cover securities held abroad.