Financial market statistics, June 2018:
Lower growth rate in June on households’ loans
Statistical news from Statistics Sweden 2018-07-26 9.30
In June 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 6.3 percent, which means that the growth rate decreased by 0.3 percentage points compared with May.
Households’ loans from MFIs totalled SEK 3 917 billion in June. This is an increase of SEK 27 billion compared with the previous month and SEK 229 billion compared with the corresponding month last year.
Housing loans made up 82 percent of MFIs’ total borrowing to households and amounted to SEK 3 206 billion in June. This is an increase of SEK 18 billion compared with the previous month and SEK 194 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 6.5 percent in June, a decrease of 0.3 percentage points compared with May.
The growth rate of households’ consumption loans was 6.1 percent in June, a decrease of 0.8 percentage points compared with May, when it was 6.9 percent (revised). The growth rate of loans with other collateral was 4.8 percent in June, a decrease of 0.2 percentage points compared with May. In June, total household consumption credits and loans with other collateral were SEK 219 billion and SEK 492 billion, respectively.
Growth rate of loans to corporations increased
In June, the annual growth rate of loans to non-financial corporations was 7.5 percent, which is an increase of 0.6 percentage points compared with May. Lending by MFIs to non-financial corporations totalled SEK 2 285 billion in June.
Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 747 billion in June. Unsecured credit to enterprises amounted to SEK 417 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 474 billion.
A minor decrease in floating housing loan rates
Households’ average housing loan rate on new agreements was 1.49 percent in June, which means it remained unchanged compared with May. The floating interest rate on housing loans decreased by 0.01 percentage points to 1.46 percent.
In June, households’ average interest rate on new deposits in bank accounts was 0.06 percent, which means a decrease of 0.01 percentage points compared with May. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.13 percent in June.
The average interest rate on loans for new agreements to non-financial corporations fell from 1.30 percent in May to 1.19 percent in June. The floating rate fell by 0.07 percentage points from the previous month and amounted to 1.20 percent in June.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.01 percent in June, which means no change compared with May. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.12 percent in June, compared with -0.13 percent in May.
| 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 | |
|---|---|---|---|---|---|
|
June-17
|
1.86% | 1.57% | 7.0% | 1.22% | 3.5% |
|
May-18
|
1.90% | 1.49% | 6.6% | 1.30% | 6.9% |
|
June-18
|
1.81% | 1.49% | 6.3% | 1.19% | 7.5% |
Reduced M3 growth rate
The annual growth rate of the narrow monetary aggregate, M1, amounted to 7.6 percent in June, which is an increase compared with 6.9 percent in May. M1 amounted to SEK 2 856 billion in June.
The growth rate of the broad measure of money supply, M3, decreased from 5.7 percent in May to 5.4 percent in June. M3 amounted to SEK 3 406 billion in total in June.
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
2018-08-27 at 09:30.
Statistical Database
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