To main content

Financial accounts, 4th quarter 2017:

Liabilities in the private sector continued to increase

Statistical news from Statistics Sweden and Swedish Financial Supervisory Authority 2018-03-20 9.30

Households and non-financial corporations increased their loans in monetary financial institutions by SEK 57 billion and SEK 30 billion, respectively, in the fourth quarter of 2017. Borrowing through debt securities has become a more important form of financing for non-financial corporations and has gradually increased on an annual basis in recent years.

Non-financial corporations’ borrowing through loans in monetary financial institutions, which remains the largest form of financing, increased in 2017 by SEK 111 billion, which is level with borrowing through issued debt securities. Debt securities, which in recent years have become an increasingly important part of non-financial corporations’ financing, has increased by 71 percent in the last five-year period. In the same period, borrowing through loans in monetary financial institutions increased by 16 percent. Non-financial corporations’ borrowing through loans in monetary financial institutions and issued debt securities amounted to SEK 3 191 billion at the end of the fourth quarter.

Non-financial corporations’ liabilities in debt securities and loans in monetary financial institutions, SEK billions

Chart

Households’ liabilities increased by SEK 59 billion in the fourth quarter of 2017, of which SEK 57 billion were new loans minus amortisation of loans in monetary finance institutes. At the end of the fourth quarter, total household liabilities amounted to SEK 4 160 billion. While liabilities increased in the fourth quarter, households' financial assets decreased, which was due in part to a decrease in the value of households’ owner-occupied dwellings and share-related assets. At the end of 2017, households’ financial assets amounted to SEK 13 270 billion and have increased more than liabilities in recent years, despite the decrease in the last quarter. Households’ liabilities in relation to their financial assets have decreased in the last five-year period from 36 percent at the end of 2012 to 31 percent at the end of 2017.

The Riksbank issued more short-term debt securities

The Riksbank increased its liabilities in short-term debt securities by SEK 91 billion in the fourth quarter of 2017. The liabilities in short-term debt securities, which were at a record level, amounted to SEK 391 billion at the end of the quarter. At the same time, the Riksbank continued to purchase government bonds as a support measure, and ownership amounted to SEK 358 billion at the end of the quarter.

Riksbank, liabilities in short-term debt securities, balance, SEK billions

Chart

Revisions

In connection with this publication, revisions were made for the period 2011Q1–2017Q3.

Definitions and explanations

Both financial and non-financial accounts constitute a part of the national accounts system. The financial accounts aim to provide information about financial assets and liabilities as well as changes in net lending/net borrowing and wealth for different economic sectors. The net lending/net borrowing in the financial accounts is calculated as the difference between transactions in financial assets and transactions in liabilities. In the non-financial accounts, net lending/net borrowing is measured as the difference between income and expenditure. However, since the financial and non-financial accounts are, for some sectors, based on different sources, there are differences between the two estimates of net lending/net borrowing. 

Publication

From this publication of Financial accounts, the statistics will no longer be reported in a Statistical Report. Data previously published in Statistical Reports will now be available under the heading Tables and diagrams. 

In connection with the publishing of the financial accounts, the times series for the National Wealth has been updated. The financial assets and liabilities thus have the same values in both time series.

For further information, see Nationalförmögenheten och nationella balansräkningar (in Swedish) (pdf) and National wealth in the Statistical Database.

In connection with the publishing of the financial accounts, fourth quarter 2017, a new report of statistics on Swedish pensions is being launched. The report is part of the reporting to the EU Statistical Office Eurostat and is available in the statistical database.

Next publishing will be

2018-06-20 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

Statistics Sweden, Financial and Sector Accounts

Address
Solna strandväg 86
171 54 Solna

Enquiries

Nicolai Nystrand

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

Albert Kjellström

Telephone
+46 10 479 42 61
E-mail
albert.kjellstrom@scb.se