The young goalkeeper has been linked with Barcelona but says he is yet to make a decision on his future and is likely to delay it until next summer
The Germany international has been frequently linked with a move to Barcelona to replace Victor Valdes, who is set to leave Camp Nou when his contract expires in June 2014.
However, Ter Stegen, whose Borussia Park deal runs out in 2015, could yet stay put with the Fohlen, but says he has yet to decide on his future and has suggested that he will not make a final decision until the middle of next year.
"Nothing new has happened. I am in talks with Borussia Monchengladbach. I never ruled out renewing my contract," he told Kicker.
"This whole thing won't take place until next summer, I can say that much. But I will take the time I need to make this decision.
"Sporting director Max Eberl knows about everything. We always talk openly and honestly."
Ter Stegen, 21, made his breakthrough with Gladbach in 2011 and has since appeared three times for his country.