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Financial Market Statistics, August 2017:

Higher growth rate for household loans in August

Statistical news from Statistics Sweden 2017-09-27 9.30

In August, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.1 percent, which means that the growth rate increased by 0.1 percentage points compared with July. Households’ loans from MFIs totalled SEK 3 683 billion in August. This is an increase of SEK 17 billion compared with the previous month and SEK 231 billion compared with the corresponding month last year.

In August, households’ housing loans amounted to SEK 3 035 billion, which is an increase of SEK 17 billion compared with the previous month and SEK 203 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 7.2 percent in August, an increase of 0.1 percentage point compared with July.

Households’ loans for consumption had a growth rate of 8.4 percent in August. This is an increase compared with July, when the growth rate was 8.3 percent. The growth rate for loans with other collateral was 5.6 percent in August, which means it increased by 0.1 percentage points compared with the previous month. In August, household consumption credits and loans with other collateral totalled SEK 199 billion and SEK 449 billion respectively.

Growth rate, lending to households and non-financial corporations
Financial Market Statistics, August 2017

Decreased credit growth for corporations

In August, the annual growth rate for loans to non-financial corporations was 4.1 percent, which can be compared with the previous month, when it was 5.0 percent. Lending by MFIs to non-financial corporations totalled SEK 2 169 billion.

Multi-dwelling buildings is the most common form of security for lending to non-financial corporations, and amounted to SEK 704 billion in August. Unsecured credit to enterprises amounted to SEK 368 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 444 billion.

Housing loan interest rate was unchanged in August

The average housing loan rate for households for new agreements was 1.58 percent in August, which is unchanged compared with July. The floating interest rate for housing loans was also unchanged compared with the previous month.

The average interest rate for new deposits by households in bank accounts was 0.07 percent in August, which means it remained unchanged compared with July. The interest rate on accounts with fixed periods or a limited number of free withdrawals increased by 0.01 percentage points compared with the previous month and amounted to 0.10 percent in August.

The average interest rate for loans for new agreements to corporations decreased from 1.26 percent in July to 1.11 percent in August. The floating rate also decreased compared with the previous month, and amounted to 1.03 percent in August. This can be compared with July, when the rate was 1.29 percent.

The average interest rate for new bank deposits to corporations amounted to 0.01 percent in August, which means it remained unchanged compared with July. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.07 percent in August, compared with -0.08 percent in July.

Interest rate and growth, lending to households and non-financial corporations
 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
Aug-16
1.91% 1.59% 7.5% 1.27% 6.7%
Jul-17
1.94% 1.58% 7.0% 1.26% 5.0%
Aug-17
1.92% 1.58% 7.1% 1.11% 4.1%

Higher growth rate for M3

The annual growth rate for the narrow monetary aggregate M1 amounted to 10.1 percent in August, which is a decrease compared with July, when it was 10.5 percent. M1 amounted to SEK 2 651 billion in August.

The growth rate for the broad monetary aggregate, M3, increased from 8.2 percent in July (revised) to 8.5 percent in August. M3 amounted to SEK 3 212 billion in total in August.

Money supply, annual growth rate
Financial Market Statistics, August 2017

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

2017-10-26 at 09:30.

Statistical Database

More information is available in the Statistical Database

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Statistical agency and producer

Statistics Sweden, Financial Market Statistics Unit

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