Household loans increased by SEK 55 billion in the third quarter of 2016 and amounted to SEK 3 676 billion at the end of the quarter. In the first three quarters of 2016, household loans increased by SEK 179 billion in total, compared with SEK 168 billion in the corresponding period in 2015. Amortisation requirements on new loans were introduced on 1 June and may have affected new loans primarily in the third quarter. The rate of increase for loans was highest, fully 11 percent, in the first quarter in 2016. The loan stock has more than doubled since then. In household loans, 78 percent consist of housing loans in banks and housing credit institutions.

Households' savings in bank accounts continued despite low interest rates, and net deposits amounted to SEK 18 billion in the third quarter. This is lower than in the corresponding quarter in 2015, when net savings amounted to SEK 24 billion. However, savings in bank accounts was higher in the first three quarters of 2016, SEK 113 billion, compared with SEK 96 billion in the corresponding period in 2015. The trend of diminishing amounts of cash in the economy that began in 2009, has accelerated after 2014. In the third quarter of 2016, the amount of bank notes and coins held by households diminished by SEK 2 billion to SEK 48 billion.

Households' purchases of newly produced tenant-owned apartments and apartments with changing rights of tenancy to tenant-owned apartments are a financial asset. Tangible assets such as one- or two-dwelling buildings with ownership rights are not included in the Savings Barometer. In the third quarter, net purchases of tenant ownership rights amounted to SEK 9 billion, which together with the corresponding quarter in 2015, was the highest listing for a third quarter. One of the main reasons for this is the high level of new production of dwellings mainly in Stockholm.

New savings in financial assets was SEK 56 billion, while debts increased by SEK 53 billion in the quarter, which provided SEK 3 billion in financial savings. Despite relatively low financial savings, there was a large increase in net wealth, as the Stockholm stock market rose by 10 percent and prices for tenant-owned flats rose. The weakened Swedish krona exchange rate also contributed to a rise in assets in foreign currencies. The financial net wealth, that is financial assets minus liabilities, amounted to SEK 8 301 billion at the end of the quarter. This is an increase of SEK 392 billion in the quarter.

Individual financial savings excluding accruals, which show savings in more liquid assets, were significantly lower, amounting to minus SEK 31 billion. The reason why these savings are lower than the total savings is mainly because significant deposits to occupational and premium pensions as well as households' accrual of taxes that are excluded from individual savings.

2017-02-23 at 09:30.