The German Bundesbank published its February 2026 statistics on issuance and holdings changes across Germany’s securities markets. Gross issuance of debt securities fell to EUR 129.1bn, and after higher redemptions and issuers’ own-portfolio changes the outstanding amount of domestic debt securities increased by EUR 9.3bn, down from EUR 50.5bn in January. Outstanding foreign debt securities in Germany rose by EUR 18.8bn, bringing net funds raised from sales of domestic and foreign debt securities in Germany to EUR 28.1bn. Net public-sector issuance amounted to EUR 5.6bn, with the federal government increasing its capital market debt by EUR 0.6bn and Länder and municipalities issuing EUR 4.9bn net. Domestic corporates increased capital market debt by EUR 3.2bn net, driven by non-financial corporates, while domestic banks issued EUR 0.5bn net, mainly public-sector Pfandbriefe and other bank debt; mortgage Pfandbriefe and specialised credit institution bonds contracted slightly. On the investor side, non-resident investors purchased domestic debt securities for EUR 27.5bn net, domestic banks bought EUR 13.4bn net, and domestic non-banks added EUR 3.2bn net, entirely in foreign securities; the Bundesbank’s bond holdings fell by EUR 15.9bn, largely reflecting maturities of securities from Eurosystem purchase programmes. In equities, German firms raised almost no new equity via share issuance at EUR 0.1bn, while the outstanding amount of foreign shares in Germany fell by EUR 6.7bn; domestic banks were net buyers of shares at EUR 7.0bn, while domestic non-banks and non-residents were net sellers. Domestic investment funds sold fund units for EUR 7.6bn net, mainly retail funds, and foreign fund managers active in Germany placed certificates for EUR 17.7bn; domestic non-banks were the main net purchasers of fund units at EUR 24.0bn.
German Bundesbank 2026-04-10
German Bundesbank reports February 2026 bond market net issuance of EUR 9.3bn and foreign investor purchases of EUR 27.5bn
The German Bundesbank reported net funds raised from domestic and foreign debt securities in Germany reached EUR 28.1bn in February 2026, as outstanding securities increased despite lower gross issuance. Net public-sector issuance totalled EUR 5.6bn, domestic corporates and banks raised EUR 3.2bn and EUR 0.5bn respectively, and non-resident investors were the largest buyers of domestic debt, while Bundesbank bond holdings declined by EUR 15.9bn due to Eurosystem maturities. Equity financing was negligible at EUR 0.1bn, with domestic banks net buyers of shares and domestic non-banks the main net purchasers of fund units amid net redemptions from investment funds.