The annual growth rate of outstanding debt securities issued by euro area residents increased from 7.4% in July 2004 to 7.6% in August. For quoted shares issued by euro area residents, the annual growth rate was 0.9% in August 2004, the same as in July.

Issuance of debt securities by euro area residents totalled EUR 608.2 billion in August 2004 (see Table 1 and Chart 1). As redemptions came to EUR 588.5 billion, net issues amounted to EUR 19.6 billion. The annual growth rate of debt securities issued by euro area residents (excluding valuation changes) increased from 7.4% in July 2004 to 7.6% in August (see Table 1 and Chart 2).

As regards the sectoral breakdown, the annual growth rate of debt securities issued by non-financial corporations decreased from 4.3% in July 2004 to 3.4% in August (see Table 2 and Chart 3)1. For the monetary financial institutions sector, this growth rate increased from 8.4% in July 2004 to 8.9% in August. The annual growth rate of debt securities issued by non-monetary financial corporations was 15.2% in August 2004, compared with 15.1% in July. For the general government, this growth rate increased from 5.7% in July 2004 to 6.0% in August.

As regards the maturity breakdown, the annual growth rate of long-term debt securities was 7.9% in August 2004, compared with 7.8% in July. For short-term debt securities, this growth rate increased from 3.6% in July 2004 to 4.8% in August (see Table 1 and Chart 2).

Concerning the currency breakdown, the annual growth rate of euro-denominated debt securities was 7.1% in August 2004, compared with 7.0% in July. For debt securities in other currencies, this growth rate increased from 11.5% in July 2004 to 12.6% in August (see Table 1).

Issuance of quoted shares by euro area residents totalled EUR 2.0 billion in August (see Table 3). As redemptions came to EUR 2.9 billion, net redemptions amounted to EUR 0.9 billion. The annual growth rate of quoted shares issued by euro area residents (excluding valuation changes) was 0.9% in August 2004, the same as in July (see Table 3 and Chart 4). The annual growth rate of quoted shares issued by non-financial corporations was 0.7% in August 2004, compared with 0.6% in July. For monetary financial institutions, it decreased from 1.8% in July 2004 to 1.4% in August. For non-monetary financial corporations, this growth rate decreased from 1.9% in July 2004 to 1.6% in August.

The amount outstanding of quoted shares issued by euro area residents totalled EUR 3,674 billion at the end of August 2004. Compared with EUR 3,413 billion at the end of August 2003, this implies an annual increase of 7.6% in the value of the stock of quoted shares in August 2004, down from 9.3% in July (see Table 3).

Securities issues statistics and explanations can be accessed via the ?Money, banking and financial markets? page of the ?Statistics? section on the ECB's website (http://www.ecb.int). The data can be downloaded in the form of charts (pdf files) or as csv files and are updated monthly.

1. The sector classification is based on the ESA 95 (sector codes in brackets): monetary financial institutions, which include central banks (S.121) and other monetary financial institutions (S.122); non-monetary financial corporations, which comprise other financial intermediaries (S.123), financial auxiliaries (S.124) and insurance corporations and pension funds (S.125); non-financial corporations (S.11); general government, which refers to the central government (S.1311) and other general government, the latter comprising state government (S.1312), local government (S.1313) and social security funds (S.1314).

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