In January 2019 net issues (gross issues minus redemptions) of securities by residents stood in positive territory, at €3.2 billion. This amount is mainly accounted for by positive net issues of debt securities by the general government, worth €3.0 billion (Charts 1 and 2).

The outstanding amount of securities issued by residents totalled €459.7 billion, up by €7.7 billion from December 2018 (Chart 3). In addition to the month’s positive net issues, this increase was mainly due to the valuation of listed shares issued by non-financial corporations (Chart 4).