Financial market statistics, May 2018:
Lower growth rate in May on households’ loans
Statistical news from Statistics Sweden 2018-06-29 9.30
In May 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 6.6 percent, which means that the growth rate decreased by 0.2 percentage points compared with April.
Households’ loans from MFIs totalled SEK 3 889 billion in May. This is an increase of SEK 18 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 3 188 billion in May. This is an increase of SEK 14 billion compared with the previous month and SEK 203 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 6.8 percent in May, a decrease of 0.3 percentage points compared with April.
The growth rate of households’ consumption loans was 6.7 percent in May, a decrease of 0.4 percentage points compared with April. The growth rate of loans with other collateral was 5.0 percent in May, an increase of 0.2 percentage points compared with April. In May, total household consumption credits and loans with other collateral was SEK 213 billion and SEK 488 billion, respectively.
Growth rate of loans to corporations increased
In May, the annual growth rate on loans to non-financial corporations was 6.9 percent, which is an increase of 0.8 percentage points compared with April. Lending by MFIs to non-financial corporations totalled SEK 2 267 billion in May.
Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 741 billion in May. Unsecured credit to enterprises amounted to SEK 407 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 469 billion.
Lower housing loan rates
Households’ average housing loan rate on new agreements was 1.49 percent in May, a decrease of 0.05 percentage points compared with April. The floating interest rate on housing loans decreased by 0.03 percentage points and amounted to 1.47 percent.
In May, households’ average interest rate on new deposits in bank accounts was 0.07 percent, which means it has remained unchanged since January. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.12 percent in May.
The average interest rate on loans for new agreements to non-financial corporations fell from 1.37 percent in April to 1.30 percent in May. The floating rate fell by 0.08 percentage points from the previous month and amounted to 1.27 percent in May.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.01 percent in May, an increase of 0.01 percentage point compared with April. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.13 percent in May, compared with -0.15 percent in April.
| 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-17
|
1.90% | 1.57% | 6.8% | 1.06% | 4.7% |
|
Apr-18
|
1.89% | 1.54% | 6.8% | 1.37% | 6.1% |
|
May-18
|
1.89% | 1.49% | 6.6% | 1.30% | 6.9% |
Reduced M3 growth rate
The annual growth rate of the narrow monetary aggregate M1 amounted to 6.9 percent in May, which is a decrease compared with 7.6 percent in April. M1 amounted to SEK 2 776 billion in May.
The growth rate of the broad measure of money supply M3 decreased from 6.4 percent in April (revised) to 5.7 percent in May. M3 amounted to SEK 3 321 billion in total in May.
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
2018-07-26 at 09:30.
Statistical Database
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