In November 2018 net issues (gross issues minus redemptions) of securities by residents totalled -€1.3 billion. This amount is mainly accounted for by negative net issues of debt securities by financial corporations, worth €1.2 billion (Charts 1 and 2).

The outstanding amount of securities issued by residents totalled €453.1 billion, decreasing by €3.9 billion from October 2018 (Chart 3). In addition to negative net issues in November, this decrease was mainly due to the devaluation of listed shares issued by non-financial corporations, which has been occurring since July 2018 (Chart 4).