Financial Market Statistics, July 2017:
Lower growth rate for household loans in July
Statistical news from Statistics Sweden 2017-08-25 9.30
In July, 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 June. Households’ loans from MFIs totalled SEK 3 666 billion in July. This is an increase of SEK 13 billion compared with the previous month and SEK 227 billion compared with the corresponding month last year.
In July, households’ housing loans amounted to SEK 3 018 billion, which is an increase of SEK 13 billion compared with the previous month and SEK 198 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 7.1 percent in July, a decrease of 0.1 percentage point compared with June.
Households’ loans for consumption had a growth rate of 8.3 percent in July. This is lower than in June, when the growth rate was 9.4 percent. The growth rate for loans with other collateral was 5.5 percent in July, which means it remained unchanged compared with June. In July, household consumption credits and loans with other collateral totalled SEK 200 billion and SEK 449 billion respectively.
Increased credit growth for corporations
In July, the annual growth rate for loans to non-financial corporations was 5.0 percent, which can be compared with the previous month, when it was 3.5 percent. Lending by MFIs to non-financial corporations totalled SEK 2 185 billion.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations, and amounted to SEK 702 billion in July. Unsecured credit to enterprises amounted to SEK 373 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 442 billion.
Housing loan interest rate increased in July
The average housing loan rate for households for new agreements was 1.58 percent in July, an increase of 0.01 percentage points compared with June. The floating interest rate for housing loans increased by 0.01 percentage points compared with June, to 1.56 percent.
The average interest rate for new deposits by households in bank accounts was 0.07 percent in July, which means it remained unchanged compared with June. 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 July.
The average interest rate for loans for new agreements to corporations rose from 1.22 percent in June to 1.26 percent in July. The floating rate also increased from the previous month, and amounted to 1.29 percent in July. This can be compared with June, when the rate was 1.24 percent.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in July, which means it remained unchanged compared with June. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.08 percent in July, compared with -0.07 percent in June.
| 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 | |
|---|---|---|---|---|---|
|
Jul-16
|
1.90% | 1.61% | 7.6% | 1.43% | 6.7% |
|
Jun-17
|
1.86% | 1.57% | 7.1% | 1.22% | 3.5% |
|
Jul-17
|
1.94% | 1.58% | 7.0% | 1.26% | 5.0% |
Lover growth rate for M1 and M3
The annual growth rate for the narrow monetary aggregate M1 amounted to 10.5 percent in July, which is a decrease compared with June, when it was 11.3 percent. M1 amounted to SEK 2 657 billion in July.
The growth rate for the broad monetary aggregate, M3, decreased from 10.0 percent in June to 8.1 percent in July. M3 amounted to SEK 3 196 billion in total in July.
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
2017-09-27 at 09:30.
Statistical Database
More information is available in the Statistical Database
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