Securities Issues Statistics - July 2016

Trends in financing of all Irish-resident entities.

View information release with charts and related data tables.

Key Developments:

• The outstanding amount of debt securities issued by Irish resident entities (including Government) was €740.3 billion at end-July 2016, which was a fall of 15 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 €57 billion at the end of July 2016, a decrease of €2.5 billion compared to the same month last year.
• Quotes shares had a market capitalisation of €550.1 billion at end-July which represented a decrease of 8.6 per cent over the year.  The value of the stock of quoted shares issued by euro area residents decreased by 9.1 per cent over the year to end-July.

Banking Sector:

• At the end of July 2016, the outstanding amount of bank bonds was €57 billion, a fall of €3.3 billion since last month – (Charts 1 & 2).  Over the year to July 2016, the outstanding amount of bank bonds decreased by 4.2 per cent. This reflected a decrease of €7.6 billion in long-term debt securities which was mostly offset by an increase of €5.1 billion in short-term debt securities.  Long-term debt securities account for 75.1 per cent of the total debt securities issued by the banking sector (compared to 84.8 per cent one year earlier).
• Over the twelve months to end-July, the total outstanding amount of debt securities for the banking sector across the euro area decreased by 5.5 per cent.
• The market value of equities in the banking sector in Ireland fell by 8.7 per cent over the year to stand at €24.7 billion as of July 2016.^[1]

Other Financial Intermediaries:

• The outstanding amount of debt securities issued by the other financial institutions (OFI)^[2] sector decreased by €150 million in July to stand at €546.8 billion (Charts 3 & 5). 
• This was 18.3 per cent lower compared to July 2015.  Long term debt securities account for 97 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 3.9 per cent.
• In July 2016, the value of the quoted shares in the OFI sector in Ireland fell by €97 million compared to the previous month to stand at €26.6 billion.  There was an increase of 27.9 per cent over the year (Charts 4 & 5).

Non-Financial Corporations

• The value of the quoted shares in the non-financial corporations (NFC) sector increased by €23 billion (4.8 per cent) during the month of July to stand at €498.6 billion.  This fall was largely due to the impact of market price changes.  There was a decrease of 10 per cent over the year.  This represents a fall back of €55.2 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 3.7 per cent.
• The outstanding amount of debt securities issued by NFCs decreased year-on-year by €287 million to stand at €11.4 billion at end July 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.