Financial market statistics, December 2017:
Lower growth rate for household loans in December
Statistical news from Statistics Sweden 2018-01-26 9.30
In December 2017, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.0 percent, which means that the growth rate decreased by 0.1 percentage points compared with November.
Households’ loans from MFIs totalled SEK 3 809 billion in December. This is an increase of SEK 19 billion compared with the previous month and SEK 244 billion compared with the corresponding month last year.
In December, households’ housing loans amounted to SEK 3 117 billion. This is an increase of SEK 18 billion compared with the previous month and SEK 210 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 7.2 percent in December, a decrease of 0.2 percentage point compared with November.
The growth rate of households’ loans for consumption was 7.3 percent in December. This is an increase from November, when the growth rate was 7.2 percent. The growth rate for loans with other collateral was 5.5 percent in December, down from 5.7 percent in the previous month. In December, household consumption credits and loans with other collateral totalled SEK 207 billion and SEK 485 billion respectively.
Increased growth rate for loans to corporations
In December, the annual growth rate for loans to non-financial corporations was 5.6 percent, which can be compared with 4.9 percent in the previous month. Lending by MFIs to non-financial corporations in December totalled SEK 2 173 billion.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations, and amounted to SEK 718 billion in December. Unsecured credit to enterprises amounted to SEK 386 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 457 billion.
Housing loan rate remained unchanged in December
The average housing loan rate for households for new agreements was 1.57 percent in December. This means that the growth rate remained unchanged compared with November. The floating interest rate for housing loans remained unchanged from November and amounted to 1.55 percent in December.
The average interest rate for new deposits by households in bank accounts was 0.06 percent in December, down by 0.02 percentage points compared with November. The interest rate on accounts with fixed periods or a limited number of free withdrawals remained unchanged from November and amounted to 0.11 percent in December.
The average interest rate for loans for new agreements to corporations decreased from 1.35 percent in November to 1.31 percent in December. The floating rate decreased by 0.05 percentage points from the previous month, and amounted to 1.27 percent in December.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in December, which means it remained unchanged from November. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.10 percent in December, compared with -0.09 percent in November.
| 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-16
|
1.81% | 1.57% | 7.2% | 1.27% | 5.0% |
|
Nov-17
|
1.89% | 1.57% | 7.1% | 1.35% | 4.9% |
|
Dec-17
|
1.83% | 1.57% | 7.0% | 1.31% | 5.6% |
Lower growth rate for M1 and M3
The annual growth rate for the narrow monetary aggregate, M1, amounted to 7.9 percent in December, down from 8.7 percent in November. The M1 amounted to SEK 2 690 billion in December.
The growth rate for the broad measure of money supply, M3, decreased from 7.9 percent in November to 7.0 percent in December. M3 amounted to SEK 3 236 billion in total 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 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
2018-02-27 at 09:30.
Statistical Database
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