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These statistics cover borrowing activity in the debt capital markets. They capture debt securities intended for trading in financial markets, such as treasury bills, commercial paper, negotiable certificates of deposit, bonds, debentures, and asset-backed securities, and distinguish between securities of debt issued on the international and national markets. BIS debt securities are harmonized with the recommendations of the Handbook on Securities Statisticsan internationally agreed framework for the classification of debt securities issues.
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Outstanding international debt securities 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 marketable loans. IDS statistics are compiled from a security-by-security database built 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 type of interest rate of the issue, and nationality and residence of the issuer. The residence of the issuer is the country in which the issuer is incorporated, while the nationality of the issuer is the country in which the parent company of the issuer has its registered office.
For more details on the debt securities included in the IDS, see Box A of the June 2021 Quarterly Review Special Feature.
This table makes it possible to distinguish between international and domestic debt securities:
Domestic Debt Securities (DDS) are issued on the local market of the country where the borrower resides, regardless of the currency in which the security is denominated. DDS statistics are based on data transmitted to the BIS by central banks. The BIS estimates net issues as changes in stocks adjusted for the exchange rate, with stocks assumed to be denominated in the local market currency. The valuation methods differ according to the country, so that certain amounts are presented at market value and others at nominal or face value.
This table makes it possible to distinguish between international and domestic debt securities:
Total Debt Securities (TDS) are issued by residents in all markets. Conceptually, TDS statistics are the sum of IDS and DDS statistics. However, 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 BRI does not calculate the TDS due to potential double counting when mixing IDS and DDS statistics. The valuation methods differ according to the country, so that certain amounts are presented at market value and others at nominal or face value.
The BIS estimate of the size of the global debt securities market is presented in chart C1 in the appendix to the BIS Quarterly Review.
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