Financial market statistics, May 2017:
Lower growth rate for household loans in May
Statistical news from Statistics Sweden 2017-06-29 9.30
In May, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 6.9 percent, which means that the growth rate decreased by 0.2 percentage points compared with April. Households’ loans from MFIs amounted to SEK 3 625 billion in total in May. This is an increase of SEK 22 billion compared with the previous month and SEK 229 billion compared with the corresponding month last year.
In May, households’ housing loans amounted to SEK 2 977 billion. This is an increase of SEK 18 billion compared with the previous month and SEK 195 billion compared with the corresponding month last year. Housing loans thus had an annual growth rate of 7.1 percent in May, a decrease of 0.3 percentage points compared with April.
Households’ loans for consumption had a growth rate of 7.3 percent in May, which is an increase compared with April, when it was 6.8 percent. The growth rate for loans with other collateral was 5.1 percent in May, which means it remained unchanged compared with the previous month. Household consumption credits and loans with other collateral totalled SEK 194 billion and SEK 454 billion respectively in May.
Lower growth rate for corporate loans
In May, the annual growth rate for loans to non-financial corporations was 4.7 percent, which is a decrease of 0.5 percentage points compared with the previous month. Lending by MFIs to non-financial corporations totalled SEK 2 149 billion.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 693 billion in May. Unsecured credit to enterprises amounted to SEK 378 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 437 billion.
Interest rate for housing loans decreased
The average interest rate for housing loans for new agreements was 1.57 percent in May, which means that it decreased compared with April, when the average interest rate was 1.60 percent. The floating interest rate for housing loans decreased with 0.02 percentage points compared with April and amounted to 1.56 percent.
In May, the average interest rate for new bank deposits by households was 0.07 percent, which means it remained unchanged from April. 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 May.
The average interest rate for loans for new agreements to corporations dropped from 1.32 percent in April to 1.06 percent in May. The floating rate also decreased with 0.29 percentage points from the previous month, and amounted to 1.00 percent in May.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in May, which means it remained unchanged compared with April. Interest rates on accounts with fixed periods or limited number of withdrawals rose from -0.09 percent in April to 0.05 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 | |
|---|---|---|---|---|---|
May-16 |
1.88% | 1.60% | 7.8% | 1.38% | 5.5% |
Apr-17 |
1.87% | 1.60% | 7.1% | 1.32% | 5.2% |
May-17 |
1.90% | 1.57% | 6.9% | 1.06% | 4.7% |
Reduced M3 growth rate
The growth rate for the broad measure of money supply, M3, decreased from 9.0 percent in April to 8.8 percent in May. In total, the M3 amounted to SEK 3 138 billion in May.
The annual growth rate for the narrow monetary aggregate, M1, amounted to 10.3 percent in May, which is an increase compared with April, when it was 9.8 percent. M1 amounted to SEK 2 593 billion in May.
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
2017-07-27 at 09:30.
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