Bank of Portugal publishes March 2025 securities statistics showing a EUR 4.5bn fall in resident debt securities and a EUR 0.4bn rise in listed shares

The Bank of Portugal published updated securities statistics for March 2025, showing that the outstanding value of debt securities issued by resident entities fell to EUR 303.1bn, down EUR 4.5bn from the previous month, while the market value of listed shares issued by residents increased to EUR 63.3bn, up EUR 0.4bn. The month-on-month decrease in resident debt securities was mainly driven by redemptions of financial sector debt exceeding issuance by EUR 2.8bn and a EUR 2.8bn valuation decline in public debt securities. Public administrations accounted for EUR 180.8bn of resident debt securities outstanding (59.6% of the total), with net issuance minus redemptions of EUR 5.5bn accumulated in the year by end of the first quarter. ESG-labelled debt securities outstanding totalled EUR 14.0bn (4.6% of resident debt securities), down EUR 0.2bn as redemptions exceeded issuance. Over the following 12 months, scheduled debt security redemptions totalled EUR 42.3bn (13.6% of outstanding debt securities on a nominal basis), including EUR 13.2bn in the second quarter, led by EUR 9.2bn for non-financial corporations, mainly commercial paper. The increase in listed shares reflected valuations gains of EUR 0.1bn for non-financial corporations and EUR 0.3bn for the financial sector. The next update is scheduled for 19 May 2025.