Financial Market Statistics, April 2017:
Lower growth rate for household loans in April
Statistical news from Statistics Sweden 2017-05-29 9.30
In April, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.1 percent, which means that the growth rate decreased by 0.2 percentage points compared with March. Households’ loans from MFIs totalled SEK 3 602 billion in April. This is an increase of SEK 18 billion compared with the previous month and SEK 234 billion compared with the corresponding month last year.
In April, households’ housing loans amounted to SEK 2 959 billion. This is an increase of SEK 15 billion compared with the previous month and SEK 201 billion compared with the corresponding month last year. Housing loans thus had an annual growth rate of 7.4 percent in April, a decrease of 0.2 percentage points compared with March.
Households’ loans for consumption had a growth rate of 6.8 percent in April, which is a decrease compared with March, when it was 7.2 percent. The growth rate for loans with other collateral was 5.1 percent in April, which is a decrease of 0.1 percentage points compared with the previous month. Household consumption credits and loans with other collateral totalled SEK 192 billion and SEK 452 billion respectively.
Lower growth rate for corporate loans
In April, the annual growth rate for loans to non-financial corporations was 5.2 percent, which is a decrease of 0.1 percentage points compared with the previous month. Lending by MFIs to non-financial corporations totalled SEK 2 143 billion.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 687 billion in April. Unsecured credit to enterprises amounted to SEK 384 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 433 billion.
Interest rate for housing loans increased
The average interest rate for housing loans for new agreements was 1.60 percent in April, which means that it rose compared with March, when it was 1.59 percent. The floating interest rate for housing loans remained unchanged and amounted to 1.58 percent.
In April, the average interest rate for new bank deposits by households was 0.07 percent, which means it remained unchanged from March. 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 April.
The average interest rate for loans for new agreements to corporations decreased from 1.33 percent in March to 1.32 percent in April. The floating rate also decreased from the previous month, and amounted to 1.29 percent in April.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in April, which means it remained unchanged compared with March. Interest rates on accounts with fixed periods or a limited number of free withdrawals decreased from 0.06 percent in March to minus 0.09 percent in April.
| 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 | |
|---|---|---|---|---|---|
Apr-16 |
1.83% | 1.61% | 7.7% | 1.41% | 4.7% |
Mar-17 |
1.88% | 1.59% | 7.3% | 1.33% | 5.3% |
Apr-17 |
1.87% | 1.60% | 7.1% | 1.32% | 5.2% |
Lower growth rate for M1 and M3
The growth rate for the broad monetary aggregate, M3, decreased from 9.2 percent in March to 9.0 percent in April. In total, M3 amounted to SEK 3 151 billion in April.
The annual growth rate for the narrow monetary aggregate M1 amounted to 9.8 percent in April, which is a decrease compared with March, when it was 11.0 percent. M1 amounted to SEK 2 587 billion in April.
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
2017-06-29 at 09:30.
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