Compared with 3.9% in June, the annual growth rate of the outstanding amount of debt securities issued by euro area residents was 3.8%. For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate was 1.8% in July 2011, compared with 1.6% in June.

The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 3.8% in July 2011, compared with 3.9% in June. Furthermore, new issuance of debt securities by euro area residents was in total €903 billion in July 2011. According to the latest data released by the European Central Bank, regarding the sectoral breakdown, the annual growth rate of outstanding debt securities issued by non-financial corporations increased from 4.1% in June 2011 to 4.7% in July. For the monetary financial institutions (MFIs) sector, this growth rate was 1.8% in July 2011, compared with 1.7% in June. The annual growth rate of outstanding debt securities issued by financial corporations other than MFIs was 0.9% in July 2011, compared with 0.7% in June. For the general government, this growth rate decreased from 7.3% in June 2011 to 6.8% in July.

In addition, the seasonally adjusted three-month annualised growth rate of outstanding debt securities issued by euro area residents was 3.1% in July 2011, compared with 3.2% in June. New issuance of quoted shares by euro area residents was in total €12.4 billion in July 2011. The annual growth rates are based on financial transactions that occur when an institutional unit incurs or redeems liabilities, they are not affected by the impact of any other changes which do not arise from transactions.