Financial market statistics , December 2016:
Growth rate for households’ loans unchanged
Statistical news from Statistics Sweden 2017-01-27 9.30
In December, households’ loans from monetary financial institutions (MFIs) had an annual growth rate of 7.2 percent, which means that the rate was unchanged compared with November. Households’ loans from MFIs totalled SEK 3 533 billion in December. This is an increase of SEK 22 billion compared with the previous month and SEK 234 billion compared with the corresponding month last year.
In December, households’ housing loans amounted to SEK 2 902 billion. This is an increase of SEK 20 billion compared with the previous month and SEK 206 billion compared with the corresponding month last year. Housing loans thus had an annual growth rate of 7.7 percent in December, a decrease of 0.1 percentage points compared with November.
Households’ loans for consumption had a growth rate of 5.8 percent in December, which is an increase compared with November, when it was 5.1 percent. The growth rate for loans with other collateral was 4.8 percent in December, which is an increase of 0.4 percentage points compared with the previous month. In December, household consumption credits and loans with other collateral totalled SEK 188 billion and SEK 443 billion respectively.
Lower growth rate for corporate loans
In December, the annual growth rate for loans to non-financial corporations was 5.1 percent, which is a decrease of 0.1 percentage points compared with the previous month. Lending by MFIs to non-financial corporations totalled SEK 2 072 billion. This is a decrease of SEK 11 billion compared with the previous month. Due to large stock increases earlier in the year, lending to non-financial corporations has increased by SEK 78 billion compared with December 2015.
Multi-dwelling buildings is the most common collateral for loans to non-financial corporations, and amounted to SEK 674 billion in December. Unsecured credit to enterprises amounted to SEK 370 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 416 billion.
Interest rate for housing loans unchanged in December
Households’ average housing loan rate for new agreements was 1.57 percent in December, unchanged compared with November. The floating rate was, on average, 1.57 percent, which is an increase compared with November, when it was 1.56 percent.
In December, households’ average interest rate for new bank deposits was 0.07 percent, which means it remained unchanged compared with November. 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 December.
The average interest rate for loans for new agreements to corporations rose from 1.22 percent in November to 1.27 percent in December. The floating interest rate rose from 1.14 percent in November to 1.18 percent in December.
| 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 | |
|---|---|---|---|---|---|
Dec-15 |
1.83% | 1.62% | 7.5% | 1.38% | 3.9% |
Nov-16 |
1.88% | 1.57% | 7.2% | 1.22% | 5.2% |
Dec-16 |
1.81% | 1.57% | 7.2% | 1.27% | 5.1% |
Lower growth rate for M1 and M3
The growth rate for the broad measure of money supply, M3, decreased from 8.7 percent in November to 7.4 percent in December. In total, the M3 amounted to SEK 2 992 billion in December.
The annual growth rate for the narrow monetary aggregate, M1, amounted to 8.8 percent in December, which is a decrease compared with November, when it was 9.9 percent. The M1 amounted to SEK 2 483 billion in December.
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 the MFI report. 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
2017-02-27 at 09:30.
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