In the first quarter of 2005, the annual growth rate of financing of the non-financial sectors in the euro area and the annual growth rate of debt financing of the non-financial sectors remained stable, at 4.6% and 5.4% respectively (see Table 1).

The annual growth rate of financial investment of the non-financial sectors remained broadly stable, at 4.7%, in the first quarter of 2005 (see Table 2).

As regards insurance corporations and pension funds, the annual growth rate of financial investment also remained broadly stable, at 6.0% in the first quarter of 2005 (see Table 3).