The Securities Holdings Statistics by Sector (SHSS), collected on a security-by-security basis, provide information on securities held by selected categories of euro area investors, broken down by instrument type, holder country and further classifications.
As part of the SHSS data set, experimental indicators on the holdings of sustainable debt securities comprise a breakdown by sustainability classification (i.e. green, social, sustainability and sustainability-linked) for the euro area aggregate, including a breakdown by counterpart issuing area (euro area, EU, the rest of the world). The breakdowns by holding sector and individual euro area country are only available for green bonds; the same applies for financial transactions which are available for the euro area only. Data on sustainable debt securities are published for two levels of assurance: i) all sustainable debt securities, i.e. with all degrees of assurance including only self-labelled instruments, and ii) securities with a second party opinion validating the sustainability claims of the issuer.
Debt securities, listed shares and investment fund units held by euro area residents.
Euro area and euro area Member States
S1 (Total economy)
S11 (Non financial corporations)
S12 (Financial corporations)
S121 (Central bank)
S122 (Deposit taking corporations, except the Central Bank)
S123 (Money market funds)
S12P (Other financial institutions: Financial corporations other than MFIs, insurance corporations and pension funds)
S124 (Non MMF investment funds)
S125A (Financial vehicle corporations engaged in securitisation)
S12Q (Insurance corporations and pension funds)
S128 (Insurance corporations)
S129 (Pension funds)
S13 (General government)
S1311 (Central government excluding social security)
S1M (Households and non profit institutions serving households)
Starting from reference period 2021-Q1. Less detailed aggregates at euro area level are available from 2013-Q4 onwards in the discontinued "SHS" data set.
Holdings data are collected on a security-by-security level (based on Regulation ECB/2012/24), and subsequently merged with the Centralised Securities Database (CSDB) to complete the data set with additional attributes referring to individual securities and their issuers.
For certain sectors, data are collected directly from investors (mainly investors from the financial sector). For other sectors, data are collected via custodians. Some national particularities may apply.
SHSS aggregates for reference area “FR” only cover securities with an ISIN code and hence differ from related aggregates in balance of payments and financial accounts data.
Starting from reference period 2021-Q1. Less detailed aggregates at euro area level are available from 2013-Q4 onwards in the discontinued "SHS" data set.
Quarterly
Follows the European System of National and Regional Accounts (ESA 2010). For the sustainable classification, the following breakdowns are used:
G_XX : Green (use of proceeds), assurance level unspecified
G_SX : Green (use of proceeds), second party opinion
C_XX : Social (use of proceeds), assurance level unspecified
C_SX : Social (use of proceeds), second party opinion
S_XX : Sustainability (use of proceeds), assurance level unspecified
S_SX : Sustainability (use of proceeds), second party opinion
L_XX : Sustainability-linked, assurance level unspecified
L_SX : Sustainability-linked, second party opinion
where,
- Green: debt securities where the proceeds are used to finance green projects
- Social: debt securities where the proceeds are used to finance social projects
- Sustainability: debt securities where the proceeds are used to finance a combination of both green and social projects
- Sustainability-linked: debt securities where the issuers are committed to future improvements in sustainability outcome(s) with no restrictions on how the proceeds can be used
For information about the naming convention (series key dimensions and metadata), refer to the SHSS underlying DSD (NA_SEC) maintained by the ESTAT.
EUR (million)
Market value. In addition, positions for debt securities are also provided in face value.
Data on sustainable debt securities are compiled for two levels of assurance: i) all sustainable debt securities, i.e. with all degrees of assurance including only self-labelled instruments, and ii) securities with a second party opinion validating the sustainability claims of the issuer. All the standards/frameworks recognised for the classification of sustainable debt securities are accepted.
Revised data is disseminated every quarter for the period prior to the reference quarter (i.e. t-1). Additionally, a minor set of series that also cover CSEC data (those with ACCOUNTING_ENTRY = ‘L’) will be revised backwards for the previous three quarters, i.e. t-4 to t-2. Finally, once a year, revised data is disseminated for the previous three years (12 periods) prior to the reference quarter.
SHSS - Securities Holdings Statistics by Sector
European Central Bank
The data quality management of the SHSS is governed by Guideline ECB/2016/24 on the data quality management framework for statistics on holdings of securities.
The new indicators on holdings of sustainable debt securities are experimental and as such their quality assurance is not foreseen in the above listed legal act.
The data are released around 2 to 3 months after the end of the reference quarter.
SHSS data are disseminated as time series. The series keys are 19 dimensions long, each dimension being separated by a dot:
1. Dataset: SHSS
2. Frequency: Q (Quarterly)
3. Adjustment: N (Non-adjusted)
4. Holder area, e.g. I8 (Euro area 19), AT (Austria)
5. Issuer area, e.g. W0 (World), BE (Belgium)
6. Holder sector, e.g. S1 (Total economy), S11 (Non financial corporations)
7. Issuer sector, e.g. S1 (Total economy), S123 (Money market funds)
8. Consolidation: N (Non-consolidated)
9. Accounting entry: A (Assets) or L (Liabilities)
10. Stocks, transactions, other flows: LE (Positions) or F (Transactions)
11. Instrument classification, e.g. F3 (Debt securities)
12. Original maturity, e.g. L (Long-term)
13. Expenditure: _Z (Not applicable)
14. Unit measure: XDC (Domestic currency)
15. Currency of denomination: nominal currency of the securities, e.g. _T (All currencies combined)
16. Valuation: M (Market value) or F (Face value)
17. Prices: V (Current prices)
18. Transformation: N (Non-transformed data)
19. Custom breakdown: _T (Total)
The framework for the collection of Securities Holdings Statistics is laid down in Regulation ECB/2012/24, amended by ECB/2015/18, ECB/2016/22 and ECB/2018/7. The Regulation is complemented by Guideline ECB/2013/07, amended by ECB/2015/19, ECB/2016/23 and ECB/2018/8, which sets out the procedures to be followed by NCBs when reporting the data to the ECB. See SHS Regulation and SHS Guideline.
Series flagged as confidential by NCBs, as well as additional series flagged as secondary confidential, are not published in the external SDW.
Series for non-domestic individual country holdings and transactions of general government securities by detailed issuer country are flagged as "N - not for publication (restricted for internal use only)" and not published in the external SDW.
Download the series catalogue containing a full list of series and associated metadata of the dataset SHSS in CSV format (zipped)