Financial accounts of the non-financial sectors 2018Q3

Published on 01/23/2019
NON-FINANCIAL CORPORATIONS
Quarters (SA)
2016 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
Financial investment (a) 51.3 56.8 8.2 27.9 -16.8 -10.5
- Currency and deposits 39.7 53.7 14.7 -0.6 13.7 4.6
- Securities -3.9 4.9 -12.1 5.7 -17.4 -9.7
debt securities 4.1 7.9 0.6 0.3 5.6 -8.6
money market fund shares -11.1 -18.3 -15.0 6.8 -18.4 2.8
non-MMF invesment fund shares 3.0 15.3 2.3 -1.4 -4.6 -3.9
- Other net financial assets (b) 15.6 -1.9 5.6 22.8 -13.1 -5.4
Financing 98.2 89.2 10.0 27.8 -16.7 37.6
- MFI loans 61.9 57.0 21.5 10.7 9.5 23.9
- Debt securities 41.8 24.2 0.5 14.5 9.0 11.8
- Shares and net equities (c) -5.5 7.9 -12.0 2.6 -35.2 1.9
The financial investments of non-financial corporations (NFC) decrease in 2018 Q3. They sell debt securities and money market fund shares and repay their cross-border loans. NFCs' debt rises this quarter supported by an increase in bank loan flows.
Flows of financial investment and financing (SA)
EUR billions

GENERAL GOVERNMENT
Year Quaters (SA)
2016 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
Financial investment (a) -0.6 11.0 -32.6 18.5 -8.5 31.6
- Currency and deposits -3.5 17.8 -29.3 11.5 -5.8 32.0
- Securities 2.9 -6.8 -3.3 7.0 -2.7 -0.3
debt securities -5.3 -9.0 -4.6 4.1 -1.2 -0.7
equities 3.6 -1.0 -0.6 1.2 -1.6 0.8
invesment fund shares 4.6 3.2 1.9 1.8 0.2 -0.4
Financing 55.7 70.4 4.5 13.2 -0.4 45.3
- Deposits -0.6 3.2 -2.6 6.1 0.6 5.9
- MFI loans -5.1 -4.5 -1.7 3.6 -0.5 -0.7
- Debt securities 61.3 -71.7 8.8 3.5 -0.5 40.1
The flow of financial investment of general government increases in the third quarter of 2018, especially for currency and deposits. In the same time, its financial resources rise sharply due to a significant debt securities issuance, following unusually small issuances in early 2018.
Flows of financing investment and financing (SA)
EUR billions
HOUSEHOLDS
Quarters (SA)
2016 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018
Financial investment (a) 117.5 102.6 21.0 15.7 23.0 26.4
- Currency and deposits 56.2 66.5 14.0 15.8 23.2 11.4
of which transferable deposits 33.0 38.6 8.0 9.4 12.3 4.3
passbook savings 4.2 21.8 3.4 6.0 6.0 6.2
home saving plans 18.1 11.4 2.8 0.4 1.9 1.7
- Securities 20.9 0.9 -1.1 -8.7 -12.8 0.3
debt securities -1.1 -6.2 -2.3 -1.6 -2.1 0.2
listed shares -8.5 -4.0 1.0 -0.2 -7.9 5.7
unlisted shares and other equities 50.5 13.7 4.1 5.5 1.1 6.8
money market fund shares -3.1 -1.8 0.8 -2.4 0.5 0.3
non-MMF invesment fund shares (domestic plus rest of the world) -16.9 -0.8 -4.7 -10.0 -4.4 -12.7
- Life insurance contracts 40.4 35.2 8.1 8.6 12.6 -
of which non-unit linked contracts 27.4 15.3 1.5 6.4 + 10.8
Financing 53.6 75.3 20.4 17.0 17.7 17.3
- MFI Loans 53.6 75.3 20.4 17.0 17.7 17.3
In the third quarter of 2018, the quarterly flow of households' financial investment remains strong, despite a decline in currency and deposits investment flow. Households purchase more life insurance contracts, particularly non-unit linked contracts, than in the prior quarters. Bank loans are almost stable.
Flows of financial investment and financing (SA)
EUR billions
Source and compilation: Direction Générale des Statistiques, des Études et de l'International
More information on : methodology, time series, calendar
All statistical time series published by the Banque de France can be accessed on Webstat Banque de France
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STAT INFO - 3rd quarter 2018
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Financial accounts of the non-financial sectors
  • Published on 01/23/2019
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Published on Wednesday, January 23, 2019