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Financial accounts of the non-financial sectors 2017Q2

Published on 10/18/2017
Households investments rise again
HOUSEHOLDS
(EUR billions)
Years Quarters (SA)
2015 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017
Financial investment (a) 111.4 91.8 16.2 24.9 20.4 39.6
- Currency and deposits 45.0 56.2 14.1 18.3 22.4 16.5
of which transferable deposits 35.5 33.0 8.8 8.0 19.1 6.3
passbook savings -8.5 4.2 1.8 3.2 6.7 7.2
home saving plans 22.8 18.1 4.0 4.2 1.7 3.4
- Securities 18.0 -5.6 -10.1 -0.8 -4.0 14.6
debt securities -3.9 -2.8 -0.1 -1.5 -1.0 -1.6
listed shares 0.3 -10.1 -1.7 0.5 -3.0 -2.4
unlisted shares and other equities 9.2 11.8 -0.6 3.0 2.7 3.9
money market fund shares 3.1 -2.9 -0.3 0.9 -3.4 -0.2
non-MMF invesment fund shares 9.3 -1.6 -7.4 -3.7 0.7 14.9
- equity fund shares -1.6 -4.3 -0.6 -0.9 -0.1 2.1
- bond fund shares -1.7 -2.5 -0.4 -0.6 0.0 -0.7
- employee saving fund 0.9 0.9 -1.2 -1.8 -1.6 4.7
- mixed and other fund shares 11.7 4.3 -5.2 -0.4 2.4 8.8
- Life insurance contracts 48.4 41.2 12.2 7.4 2.0 8.5
of which non-unit linked contracts 32.2 28.1 9.5 3.3 -2.5 3.6
Financing 39.1 53.6 14.2 18.0 20.7 18.6
- MFI Loans 39.1 53.6 14.2 18.0 20.7 18.6
(a) are excluded here several residual items

In the second quarter of 2017,
households increase their financial investments. Significant acquisitions of securities, mainly non-money market fund shares, offset lower investments in currency and deposits. Investment in life-insurance contracts picks up after a low in the previous quarter. Bank loans slightly decline.

Flows of financial investment and financing (SA)
EUR billions
NON-FINANCIAL CORPORATIONS
(EUR billions)
Years Quarters (SA)
2015 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017
Financial investment (a) 65.8 46.5 8.0 12.7 29.5 0.1
- Currency and deposits 48.1 39.7 11.3 10.2 17.9 12.3
- Securities 8.7 -11.2 -1.8 -4.2 24.3 -19.6
debt securities 4.3 -0.6 -2.6 -2.4 4.7 2.7
money market fund shares 2.5 -10.5 2.3 -1.1 19.5 -26.1
non-MMF invesment fund shares 1.9 -0.1 -1.5 -0.7 0.1 3.8
- Other net financial assets (b) 9.0 18.0 -1.5 6.7 -12.7 7.4
Financing 103.6 108.8 36.8 20.3 48.2 25.3
- MFI loans 38.4 54.2 5.2 14.5 14.8 2.2
- Debt securities 23.5 39.0 13.7 19.6 11.2 9.3
- Shares and net equities (c) 41.7 15.6 17.9 -13.8 22.2 13.8
(a) are excluded here several residual items
(b) mainly cross-border intercompany lending/borrowing
(c) including direct investment (equity capital and reinvested earnings)

In the second quarter of 2017,
households increase their financial investments. Significant acquisitions of securities, mainly non-money market fund shares, offset lower investments in currency and deposits. Investment in life-insurance contracts picks up after a low in the previous quarter. Bank loans slightly decline.

Flows of financial investment and financing (SA)
EUR billions

GENERAL GOVERNMENT
(EUR billions)
Year Quaters (SA)
2015 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017
Financial investment (a) 12.8 2.1 9.7 -20.6 25.7 3.9
- Currency and deposits 14.7 -3.2 6.9 -23.6 21.7 2.2
- Securities -1.9 5.3 2.8 3.0 4.0 1.7
debt securities -4.5 -5.5 0.6 -2.0 2.8 3.0
equities 1.5 6.0 0.8 3.4 -2.1 1.7
invesment fund shares 1.1 4.8 1.4 1.6 3.3 -3.0
Financing 81.8 51.4 15.6 -2.9 42.7 12.5
- Deposits 4.7 -0.7 0.9 -6.4 2.6 4.9
- MFI loans 3.8 -6.1 -3.1 -0.2 1.5 -2.5
- Debt securities 73.3 58.2 17.8 3.7 38.6 10.1
(a) are excluded here several residual items

The flow of investment of
general government in the form of currency and deposits decreases. In parallel, debt securities issuances slow down and bank loans are repaid.

Flows of financing investment and financing (SA)
EUR billions
Source and compilation: Banque de France
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STAT INFO - 2nd quarter 2017
Non-financial sector financial transactions
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Financial accounts of the non-financial sectors
  • Published on 10/18/2017
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Published on Wednesday, October 18, 2017