Securities Issues Statistics – June 2016

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Summary

The outstanding amount of debt securities issued by Irish resident entities (including Government) was €760.4 billion at end-June 2016, which was a fall of 12.8 per cent year-on year.  Over the same period, the outstanding amount of debt securities issued by euro area residents decreased by nearly one per cent.

Debt financing for the banking sector stood at €60.3 billion at the end of June 2016, an increase of €2.2 billion compared to the same month last year.

Quoted shares had a market capitalisation of €524.2 billion at end-June which represented a decrease of 8.7 per cent over the year.  The value of the stock of quoted shares issued by euro area residents decreased by 9.7 per cent over the year to end-June.

Banking Sector

At the end of June 2016, the outstanding amount of bank bonds was €60.3 billion, a rise of €1.4 billion since last month – (Charts 1 & 2).  Over the year to June 2016, the outstanding amount of bank bonds increased by 3.8 per cent. This reflected a decrease of €4 billion in long-term debt securities which was more than offset by an increase of €6.3 billion in short-term debt securities.  Long-term debt securities account for 74.9 per cent of the total debt securities issued by the banking sector (compared to 84.7 per cent one year earlier).

Over the twelve months to end-June, the total outstanding amount of debt securities for the banking sector across the euro area decreased by 5.1 per cent.

The market value of equities in the banking sector in Ireland fell by 16.9 per cent over the year to stand at €21.8 billion as of June 2016.¹

Other Financial Intermediaries

The outstanding amount of debt securities issued by the other financial institutions (OFI) ^[2] sector increased by €9.6 billion in June to stand at €563.7 billion (Charts 3 & 5).  This was 16.3 per cent lower compared to June 2015.  Long term debt securities account for 96.9 per cent of the total debt securities issued by the OFI sector (Chart 5).

Over the past twelve months, the total outstanding amount of debt securities for the OFI sector across the euro area decreased by 3.7 per cent.

In June 2016, the value of the quoted shares in the OFI sector in Ireland fell by €0.8 billion compared to the previous month to stand at €26.7 billion.  There was an increase of 31.2 per cent over the year (Charts 4 & 5).

Non-Financial Corporations

The value of the quoted shares in the non-financial corporations (NFC) sector decreased by €11.8 billion (2.4 per cent) during the month of June to stand at €475.6 billion.  This fall was largely due to the impact of market price changes.  There was a decrease of 9.9 per cent over the year.  This represents a fall back of €78.2 billion since the high point of July 2015 (Chart 6).

Over the past twelve months, the total market capitalisation for equities for NFCs in the euro area increased by 5.4 per cent.

The outstanding amount of debt securities issued by NFCs increased year-on-year by €0.8 billion to stand at €11 billion at end June 2016 (Chart 7).

Detailed tables can be found on the Central Bank of Ireland’s website here. The data are largely compiled from the ESCB Centralised Securities Database. 

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¹ As per compilation methodology utilised by the Central Bank of Ireland.  The increase seen in December 2015 reflects recent corporate developments in the sector.

² The OFI sector data presented here includes issuance by entities classified within the Financial Auxiliaries (FA) or Captive Financial Institutions (CFI) sectors, albeit the identified amounts are small at present.  It is intended to produce a more complete sectoral disaggregation in time.