To main content

Financial accounts, 4th quarter 2016:

Households remain cautious in their financial investments

Statistical news from Statistics Sweden and Swedish Financial Supervisory Authority 2017-03-23 9.30

Households continued to be cautious in their purchases of shares and funds in the fourth quarter 2016. Instead, households chose to save in bank accounts, and net purchases of tenant-owned apartments were at a record level in 2016. Central government financial savings were positive for the third consecutive quarter, and for 2016, central government financial savings amounted to SEK 52 billion.

Households’ net purchases of shares and funds were close to zero in the fourth quarter of 2016, and net purchases were SEK 11 billion during 2016, which was considerably lower compared with the three previous years. Net deposits in bank accounts were at historically high levels in 2015 and 2016. Net deposits were only higher in 2007. At the end of 2016, households savings in bank accounts was SEK 1 620 billion, despite low interest rates. At the same time, households’ purchases of tenant-owned apartments have increased gradually as a result of increased new production of dwellings. In the two most recent years, households have made net purchases in tenant ownership rights amounting to SEK 40 billion and SEK 44 billion respectively. This can be compared with the peaks in 2008 and 2009, when many rental dwellings changed rights of tenancy to tenant-owned apartments. Net purchases then amounted to SEK 30 billion and SEK 29 billion respectively.

Households’ assets in certain financial instruments, transactions, SEK billions

Chart

Source: Statistics Sweden

Households’ loans, the difference between new loans and amortised loans, in banks and housing credit institutions increased by SEK 52 billion in the fourth quarter. The annual rate of increase for these loans was 7 percent.

Positive central government financial savings

Central government financial savings, the difference between transactions in financial assets and transactions in liabilities, amounted to SEK 9 billion in the fourth quarter of 2016. For the full year 2016, central government financial savings amounted to SEK 52 billion, which was the highest annual financial savings since 2007.

Central government financial assets, liabilities and financial savings, transactions, SEK billions

Chart

Source: Statistics Sweden

Increased activity on the financial market by the Riksbank

The Riksbank has increased its activity on the financial market in recent years. In the fourth quarter, the Riksbank’s net issuing of short-term securities amounted to SEK 50 billion, and at the end of 2016, they amounted to SEK 221 billion, which was nearly at the same level as in 2009–2010. The Riksbank also continued to purchase government bonds during the quarter as a support measure.

Revisions

In connection with this publication, Swedish-registered funds were revised from 2009 and onwards. This revision affects mainly banks, insurance companies, pension funds and households. More information about revisions is available in the Statistical Report.

Definitions and explanations

The financial accounts aim to provide information about financial assets and liabilities, as well as about changes in savings and financial wealth in different economic sectors. The financial accounts’ net lending/net borrowing is calculated as the difference between transactions in financial assets and transactions in liabilities. Financial savings are measured as the difference between income and costs in the non-financial accounts, which, like the financial accounts, are part of the national accounts. However, financial accounts and non-financial accounts are based on different sources, which give rise to differences.

Publication

A more detailed presentation of the survey and significant revisions is available in the Statistical Report.

The national wealth is also updated in connection with the publication of the financial accounts.

Next publishing will be

2017-06-22 at 9:30.

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

Statistical agency

Swedish Financial Supervisory Authority

Address
Box 7821
103 97 Stockholm

Producer

Nicolai Nystrand

Telephone
+46 10 479 45 45
E-mail
nicolai.nystrand@scb.se

Michelle Li

Telephone
+46 10 479 49 55
E-mail
michelle.li@scb.se