About Debt Securities Statistics

These statistics cover borrowing activity in debt capital markets. They capture debt instruments designed to be traded in financial markets, such as treasury bills, commercial paper, negotiable certificates of deposit, bonds, debentures and asset-backed securities, and distinguish between between debt securities issued on international and domestic markets. BIS debt instruments are aligned with the recommendations of the Securities Statistics Handbook, an internationally agreed framework for classifying debt securities issues.

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International debt securities outstanding by currency of denomination

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About our datasets

International Debt Securities (IDS) are issued outside the local market of the country where the borrower resides. They capture issues conventionally known as Eurobonds and Foreign Bonds and exclude negotiable loans. IDS statistics are compiled from a security-by-security database constructed by the BIS using information from commercial data providers. The amounts are presented at their nominal value.

IDS statistics are presented by currency, maturity and interest rate type of the issue, as well as by nationality and residence of the issuer. The residence of the issuer is the country where the issuer is incorporated, while the nationality of the issuer is the country where the parent company of the issuer is headquartered.

For more details on the debt securities included in the IDS, see Box A of the June 2021 Quarterly Review special article.

This table makes it possible to distinguish between international and domestic debt securities:

Domestic Debt Securities (DDS) are issued in the local market of the country where the borrower resides, regardless of the currency in which the security is denominated. DDS statistics are compiled from data transmitted to the BIS by central banks. The BIS estimates net issues as changes in equities corrected for the exchange rate, with equities assumed to be denominated in local market currency. Valuation methods differ from country to country, so some amounts are presented at market value and others at face or face value.

This table makes it possible to distinguish between international and domestic debt securities:

International vs national debt securities

Total Debt Securities (TDS) are issued by residents of all markets. Conceptually, the TDS statistics are the sum of the IDS and DDS statistics. However, the BIS IDS and DDS statistics come from different sources and therefore may overlap. TDS statistics are only published for countries whose central banks submit relevant data to the BIS. For countries that do not submit this data, the BIS does not calculate the TDS due to potential double counting when mixing IDS and DDS statistics. Valuation methods differ from country to country, so some amounts are presented at market value and others at face or face value.

The BIS estimate of the size of the global debt securities market is presented in Chart C1 in the appendix to BIS quarterly review.



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John A. Bogar