Financial Market Statistics, February 2017:
Growth rate for households’ loans unchanged
Statistical news from Statistics Sweden 2017-03-27 9.30
Loans from Monetary Financial Institutions (MFIs) to households had an annual growth rate of 7.2 percent in February. This is the third month in a row with an unchanged growth rate. Households' loans from MFIs totalled SEK 3 563 billion in February. This is an increase of SEK 14 billion compared with the previous month and SEK 236 billion compared with the corresponding month last year.
In February, households’ housing loans amounted to SEK 2 928 billion. This is an increase of SEK 14 billion compared with the previous month and SEK 207 billion compared with the corresponding month last year. Housing loans thus had an unchanged annual growth rate of 7.6 percent in February.
Households’ loans for consumption had a growth rate of 5.9 percent in February, which is a decrease compared with January, when it was 6.6 percent. The growth rate for loans with other collateral was 5.0 percent in February, which is an increase of 0.2 percentage points compared with the previous month. In February, household consumption credits and loans with other collateral totalled SEK 188 billion and SEK 448 billion respectively.
Growth rate for corporate loans increased
In February, the annual growth rate was 4.9 percent for loans to non-financial corporations, which is an increase of 0.3 percentage points compared with the previous month. Lending by MFIs to non-financial corporations totalled SEK 2 114 billion.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 681 billion in February. Unsecured credit to enterprises amounted to SEK 374 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 422 billion.
Housing loan interest rate unchanged in February
Households’ average housing loan interest rate for new agreements was 1.58 percent in February, which is unchanged compared with the previous month. The floating interest rate for housing loans remained unchanged and amounted to 1.58 percent.
In February, the average interest rate for new bank deposits by households was 0.07 percent, which means it remained unchanged from January. The interest rate on accounts with fixed periods or a limited number of free withdrawals also remained unchanged and amounted to 0.09 percent in February.
The average interest rate for new agreements to corporations decreased from 1.34 percent in January to 1.30 percent in February. The floating rate amounted to 1.28 percent in February, unchanged compared with the previous month.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in February, which means it remained unchanged compared with January. Interest rates on accounts with fixed periods or a limited number of free withdrawals increased from minus 0.12 percent in January to minus 0.04 percent in February.
| Interest rate, new agreements to households | Households' interest rates for housing loans for new agreements | Growth rate, lending to households | Interest rate, new agreements to non-financial corporations | Growth rate, lending to non-financial corporations | |
|---|---|---|---|---|---|
|
Feb-16
|
1.89% | 1.60% | 7.5% | 1.49% | 4.0% |
|
Jan-17
|
1.88% | 1.58% | 7.2% | 1.34% | 4.6% |
|
Feb-17
|
1.88% | 1.58% | 7.2% | 1.30% | 4.9% |
Lower growth rate for M1 and M3
The growth rate for the broad measure of money supply, M3, decreased from 8.8 percent (revised) in January to 8.2 percent in February. In total, the M3 amounted to SEK 3 070 billion in February.
The annual growth rate for the narrow monetary aggregate, M1, amounted to 9.3 percent in February, which is a decrease compared with January, when it was 9.4 percent (revised). The M1 amounted to SEK 2 514 billion in February.
The M1 consists of the general public's holdings of bank notes and coins as well as demand deposits by the general public in MFIs and with the central government. In addition to the M1, the M3 includes deposits with certain conditions, repos, shares in money market funds, and short-term securities.
Definitions and explanations
Statistics Sweden compiles monthly financial market statistics on behalf of the Riksbank. These statistics are based mainly on reporting by Monetary Financial Institutions (MFIs). The MFI sector consists of banks, housing credit institutions, finance companies, institutions financing municipalities and companies, monetary securities companies and monetary investment funds (money market funds).
Next publishing will be
2017-05-02 at 09:30.
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