Monetary developments in the euro area: June 2026

Source: European Central Bank

27 July 2026

Components of the broad monetary aggregate M3

The annual growth rate of the broad monetary aggregate M3 increased to 3.3% in June 2026 from 3.0% in May, averaging 3.0% in the three months up to June. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, decreased to 3.4% in June from 3.7% in May. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 2.8% in June from 1.4% in May. The annual growth rate of marketable instruments (M3-M2) increased to 4.5% in June from 3.2% in May.

Chart 1

Monetary aggregates

(annual growth rates)

Data for monetary aggregates

Looking at the components’ contributions to the annual growth rate of M3, the narrower aggregate M1 contributed 2.2 percentage points (down from 2.4 percentage points in May), short-term deposits other than overnight deposits (M2-M1) contributed 0.8 percentage points (up from 0.4 percentage points) and marketable instruments (M3-M2) contributed 0.3 percentage points (up from 0.2 percentage points).

Among the holding sectors of deposits in M3, the annual growth rate of deposits placed by households decreased to 2.6% in June from 2.8% in May, while the annual growth rate of deposits placed by non-financial corporations increased to 5.3% in June from 4.2% in May. Finally, the annual growth rate of deposits placed by investment funds other than money market funds increased to 1.6% in June from ‑0.6% in May.

Counterparts of the broad monetary aggregate M3

The annual growth rate of M3 in June 2026, as a reflection of changes in the items on the monetary financial institution (MFI) consolidated balance sheet other than M3 (counterparts of M3), can be broken down as follows: claims on the private sector contributed 3.1 percentage points (as in the previous month), net external assets contributed 2.2 percentage points (up from 1.9 percentage points), claims on general government contributed 0.1 percentage points (up from 0.0 percentage points), longer-term liabilities contributed -1.6 percentage points (down from -1.4 percentage points), and the remaining counterparts of M3 contributed -0.5 percentage points (up from -0.6 percentage points).

Chart 2

Contribution of the M3 counterparts to the annual growth rate of M3

(percentage points)

Data for contribution of the M3 counterparts to the annual growth rate of M3

Claims on euro area residents

The annual growth rate of total claims on euro area residents stood at 2.4% in June 2026, unchanged from the previous month. The annual growth rate of claims on general government increased to 0.3% in June from 0.1% in May, while the annual growth rate of claims on the private sector stood at 3.3% in June, unchanged from the previous month.

The annual growth rate of adjusted loans to the private sector (i.e. adjusted for loan transfers and notional cash pooling) stood at 3.9% in June, unchanged from the previous month. Within the non-financial private sector, the annual growth rate of adjusted loans to households stood at 3.0% in June, and the annual growth rate of adjusted loans to non-financial corporations stood at 4.0% in June, both unchanged from the previous month.

Chart 3

Adjusted loans to the private sector

(annual growth rates)

Data for adjusted loans to the private sector

Notes:

  • Data in this press release are adjusted for seasonal and end-of-month calendar effects, unless stated otherwise.
  • “Private sector” refers to euro area non-MFIs excluding general government.
  • Hyperlinks lead to data that may change with subsequent releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.

Toyota, Volvo Group and Daimler Truck AG sign binding agreement for Toyota to join cellcentric as equal shareholder

Source: Toyota

Headline: Toyota, Volvo Group and Daimler Truck AG sign binding agreement for Toyota to join cellcentric as equal shareholder

The Volvo Group, Daimler Truck AG, cellcentric and Toyota Motor Corporation (Toyota) have signed a binding agreement for Toyota to join as an equal partner and shareholder in cellcentric, with each owner to hold one third. The agreement follows the previous non-binding agreement signed at the end of March this year. Completion of the transaction is conditional upon obtaining regulatory approvals. Through the collaboration, the parties intend to strengthen cellcentric’s position as a leading developer and manufacturer of fuel cell systems for heavy-duty commercial applications.

Result of the 3-day Variable Rate Repo (VRR) auction held on July 27, 2026

Source: Reserve Bank of India

Tenor 3-day
Notified Amount (in ₹ crore) 75,000
Total amount of bids received (in ₹ crore) 12,720
Amount allotted (in ₹ crore) 12,720
Cut off Rate (%) 5.26
Weighted Average Rate (%) 5.26
Partial Allotment Percentage of bids received at cut off rate (%) NA

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/757

Money Market Operations as on July 24, 2026

Source: Reserve Bank of India

@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

– Not Applicable / No Transaction.

** Relates to uncollateralized transactions of 2 to 14 days tenor.

@@ Relates to uncollateralized transactions of 15 days to one year tenor.

$ Includes refinance facilities extended by RBI.

* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/756

Secretary-General of ASEAN to participate in the 10th ASEAN Media Forum

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, will participate in the 10th ASEAN Media Forum (AMF), to be held in Manila, the Philippines, on 29-30 July 2026.

Marking a decade of fostering a regional dialogue, the AMF serves as a key platform connecting regional media leaders and chief editors with ASEAN policymakers. This year’s edition will feature an interactive media interface session with SG Dr. Kao, as well as a special “Conversation with the Chair” session with the Secretary of Foreign Affairs of the Republic of the Philippines and Chair of ASEAN Foreign Ministers’ Meeting (AMM) 2026, H.E. Ma. Theresa P. Lazaro, focusing on the priorities of the Philippine ASEAN Chairship.

The AMF will also host panel discussions on critical regional topics, including maritime cooperation, economic integration, and the strategic narrative of the ASEAN Community Vision 2045. The AMF is supported by the German Federal Government through GIZ cooperation project.
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[Infographic] What’s Your Artistic Style? Discover Your Perfect Art Collection on Samsung Art Store

Source: Samsung

Just as everyone has different tastes in music and movies, the works of art that move us are deeply personal. Some find comfort in clean lines and structured compositions, while others are drawn to bold colors or dreamlike, mysterious imagery. The moment you discover your own artistic taste among countless works, the way you experience space begins to change.

Samsung Art Store brings together everything from classical masterpieces to contemporary works from world-renowned museums, galleries and artists, all on a single screen. It allows you to build a personal gallery tailored to your shifting tastes through monthly themed curations and collections from leading global art fairs.

So, which artistic movement best reflects your taste? Take a simple test below to discover your signature artistic style, and find the perfect Samsung Art Store collections to bring a fresh new atmosphere into your everyday space.

The 44th ASEANAPOL Conference convenes in Manila, the Philippines

Source: ASEAN

The 44th ASEANAPOL Conference brought together Chiefs of Police and senior law enforcement representatives from ASEAN Member States, alongside ASEANAPOL’s Dialogue Partners and Observers in Manila, the Philippines, on 22-26 July 2026.

The Conference served as a platform for police chiefs and senior officials to exchange best practices, strengthen operational coordination and advance collective efforts to address transnational crime and emerging regional security challenges. The ASEAN Secretariat delegation was led by Deputy Secretary-General of ASEAN for ASEAN Political-Security Community, H.E. Dato’ Astanah Abdul Aziz, who highlighted recent developments in law enforcement cooperation and other complementary initiatives in ASEAN.

Image credit: Philippine National Police
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Chair’s Statement of the 33rd ASEAN Regional Forum

Source: ASEAN – Association of SouthEast Asian Nations

The Thirty-Third Meeting of the ASEAN Regional Forum (ARF) was held in Manila, Philippines, on 23 July 2026. The Meeting was chaired by H.E. Ma. Theresa P. Lazaro, Secretary of Foreign Affairs of the Philippines, under the ASEAN 2026 Chairship theme of “Navigating Our Future, Together”.The Meeting was attended by the Foreign Ministers and Representatives of all ARF Participants, as well as the Secretary-General of ASEAN. The list of Heads of Delegations appears as ANNEX 1.

Download the full statement here.
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Chair’s Statement of the 16th East Asia Summit (EAS) Foreign Ministers’ Meeting

Source: ASEAN – Association of SouthEast Asian Nations

The 16th East Asia Summit (EAS) Foreign Ministers’ Meeting was convened on 23 July 2026 in Manila, Philippines. The Meeting was chaired by H.E. Ma. Theresa P. Lazaro, Secretary of Foreign Affairs of the Republic of the Philippines.

Review and Future Direction of the EAS

The Meeting reaffirmed its commitment to further strengthening the EAS as the premier Leaders-led forum for dialogue and cooperation on broad strategic, political, and economic issues of common interest and concern with the aim of promoting peace, stability and economic prosperity in East Asia, in line with the EAS foundational documents and based on the established principles, objectives and modalities of the EAS.

Download the full statement here.
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Chair’s Statement of the 27th ASEAN Plus Three Foreign Ministers Meeting

Source: ASEAN – Association of SouthEast Asian Nations

The 27th ASEAN Plus Three Foreign Ministers’ Meeting was chaired by H.E. Ma. Theresa P. Lazaro, Secretary of Foreign Affairs of the Republic of the Philippines.

Review and Future Direction of ASEAN Plus Three Cooperation

The Meeting noted the progress in the ASEAN Plus Three (APT) cooperation over the past year and discussed its future direction. The Meeting reaffirmed the commitment to further strengthening and deepening the APT process, which remains a main vehicle for advancing regional community-building and in promoting peace, stability, security, and prosperity in the East Asian region with ASEAN as the driving force. The Meeting also recognised the importance of APT cooperation in supporting the realisation of ASEAN 2045: Our Shared Future and its strategic plans, the Initiative for ASEAN Integration (IAI) Work Plan IV (2021–2025), including their contributions to the development and implementation of the IAI Work Plan V (2026–2030), as well as deeper regional integration in East Asia.

Download the full statement here.
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