In May 2019 net issues (gross issues minus redemptions) of securities by resident entities totalled about -€0.1 billion. This figure results mainly from negative net issues by financial corporations, partly offset by positive net issues by the general government (Charts 1 and 2).

The outstanding amount of securities issued by residents totalled €469.1 billion, €1.7 billion less than in April (Chart 3). This reduction was chiefly due to the devaluation of listed shares issued by non-financial corporations, partly offset by the valuation of general government debt securities (Chart 4).