Issuance of debt securities by euro area residents totaled EUR 993.4 billion in March 2006 (see Table 1 and Chart 1). As redemptions came to EUR 898.1 billion, net issues amounted to EUR 95.4 billion.

The annual growth rate of outstanding debt securities issued by euro area residents (excluding valuation changes) increased from 7.3% in February 2006 to 7.6% in March (see Table 1 and Chart 2).