CSDB-Derived Securities Issues Statistics (CSEC) provide data on outstanding stocks, gross issues, redemptions, net issues, revaluations and other changes in volume of debt securities and listed shares in the euro area and non-euro area EU Member States. CSEC data are broken down by sector of issuer, maturity of issuance, coupon type and currency of issuance.

For publication dates, see the Release calendar for the Euro area securities issues statistics.

Statistical manuals

CSEC series are compiled using security-by-security micro data from the Centralised Securities Databases (CSDB).

The following types of series are compiled:

Stocks refer to positions of debt securities and listed shares that are outstanding at the end of the reference period.

Gross issues cover new issuances of debt securities and listed shares during the reference period. Issuances refer to the situation where an issuer sells newly created debt securities or listed shares to holders. In addition, for aggregates on debt securities at market value, gross issuances also include accrued interest.

Redemptions comprise cancellations of debt securities and listed shares during the reference period. Redemptions include debt securities that have reached their maturity date or have been redeemed early, as well as listed shares that have been formally cancelled. In addition, for aggregates of debt securities at market value redemptions also include paid coupon.

Net issues refer to gross issues minus redemptions during the same period. In principle, net issues correspond to the change in outstanding amounts between two periods, although differences may arise as a result of valuation changes, reclassifications and other adjustments during a particular period.

Revaluations represent revaluations for debt securities and listed shares accrued during the reference period. Revaluations may occur as a result of market developments of prices and exchange rates.

Other changes in volume comprise other changes in volume for debt securities and listed shares due to changes in the quantity or physical characteristics of securities or changes in the classification of securities. Changes in classification comprise changes in the institutional sector of the issuer, changes of the reference area in which an issuer is domiciled, changes to the structure of institutional units, and changes in the classification of assets. Other changes in volume are derived as a residual from the stock-flow equation.

Growth rates are calculated to monitor historical and recent trends in the issuance of securities by euro area residents broken down by sector, instrument type, maturity and currency. The growth rates exclude any changes to the outstanding amounts which are not due to transactions.

CSEC data are available from reference period December 2020 onwards. Data for debt securities at face value and listed shares prior to December 2020 are taken from the discontinued SEC data set. Breaks between November and December 2020 may exist for selected series due to methodological differences between SEC and CSEC data (see the CSEC metadata page for more details).