Securities issues by domestic residents, including sustainable debt securities

This section provides monthly data from 1995 onwards on debt securities and listed shares issued by domestic residents on the Greek and foreign capital markets.

The data are broken down by issuer sector and by instrument type (fixed-rate/floating-rate debt securities, short-term/long-term debt securities, listed shares). The statistics relate to gross issuances, redemptions and outstanding amounts.

Data on debt securities are reported at face value; data on listed shares are reported at market value.

The data are presented separately for the following periods: Jan. 1995 -Dec. 2000, Jan. 2001-Apr. 2022, Dec. 2020 onwards.

Data for the period prior to 2001 (i.e. before Greece joined the euro area) have been converted from Greek drachmas to euro using the rule adopted by the ECB. Namely, for the period from 1.1.1999 to 31.12.2000 (when Greece was not yet a euro area country), the conversion is based on the EUR/drachma exchange rate prevailing on the reference date. For the period before 1.1.1999, the conversion is based on the fixed conversion rate of 31.12.1998, i.e. 1 euro = 329.689 drachmas.

For the period Dec. 2020 onwards, data are based on the new methodology described in Guideline (EU) 2022/971 of the European Central Bank of 19 May 2022 on the Centralised Securities Database and the production of securities issues statistics (ECB/2022/25). For earlier periods, the data sources are: for Greek government bonds, the Greek Ministry of Finance; for shares issued by Athex-listed companies, the Athens Exchange; and for bank bonds, the relevant annex to the monthly balance sheets that credit institutions are required to submit to the Bank of Greece in accordance with the applicable Bank of Greece Governor’s Acts.

Data for the period Dec. 2020 onwards also include information on sustainable debt security issuances by domestic residents.

In line with the ECB practice, sustainable debt securities include the following categories:

  • (i) green debt securities, where the proceeds are used to finance green projects;
  • (ii) social debt securities, where the proceeds are used to finance social projects;
  • (iii) sustainability debt securities, where the proceeds are used to finance a combination of both green and social projects;
  • (iv) 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.

The data are available with a breakdown by issuer sector and by security category. They are reported at face value and refer to outstanding amounts at the end of each reference period. Information is also provided on the share of sustainable debt security issues in the total debt securities issued by domestic residents, broken down by economic sector. The sustainability classification of a given debt security is by no means a label assigned by the Bank of Greece, but is given exclusively on the basis of information available from published documents  by the issuers themselves, in accordance with the above mentioned methodology applied by the ECB.

It should be noted that the lack of internationally accepted and harmonised standards on the definition of sustainable debt securities makes the data less reliable overall. The ECB labels these data as “experimental”, as they comply with many, but not all, of the quality requirements (in terms of harmonisation, coverage and methodological soundness) of official ECB statistics. The data are therefore a work in progress and should be used with caution. They are intended to contribute to the enhancement of the collection of data on climate-related risks and the green transition. The ECB will continue to work with the national central banks to improve the methodology and the quality of the data. As a result of these methodological improvements, the data released will be gradually enhanced and enriched over time. The structure and content of the tables may be changed at a later stage.

CSEC – Securities issues statistics (Dec. 2020-)

Data for the period after the entry of Greece into the euro area (Jan. 2001-Apr. 2022)

Data for the period before the entry of Greece into the euro area (1995 - 2000)

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