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Financial Market Statistics, November 2017:

Growth rate for households´ loans unchanged

Statistical news from Statistics Sweden 2017-12-29 9.30

In November, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.1 percent, which means that the growth rate was unchanged compared with October.

Households’ loans from MFIs totalled SEK 3 790 billion in November. This is an increase of SEK 22 billion compared with the previous month and SEK 247 billion compared with the corresponding month last year.

In November, households’ housing loans amounted to SEK 3 100 billion, which is an increase of SEK 20 billion compared with the previous month and SEK 213 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 7.4 percent in November, an increase of 0.1 percentage points compared with October.

Households’ loans for consumption had a growth rate of 7.2 percent in November. This is a decrease compared with October, when the growth rate was 7.3 percent (revised). The growth rate for loans with other collateral was 5.7 percent in November, which is an increase compared with the previous month when it was 5,6 (revised). In November, household consumption credits and loans with other collateral totalled SEK 206 billion and SEK 484 billion respectively.

Growth rate, lending to households and non-financial corporations
Financial Market Statistics, November 2017

Increased growth rate for loans to corporations

In November, the annual growth rate for loans to non-financial corporations was 4.9 percent, which can be compared with the previous month when it was 3.4 percent (revised). Lending by MFIs to non-financial corporations totalled SEK 2 168 billion.

Multi-dwelling buildings is the most common form of security for lending to non-financial corporations, and amounted to SEK 712 billion in November. Unsecured credit to enterprises amounted to SEK 378 billion, and loans to tenant-owner associations, which are considered as non-financial corporations, amounted to SEK 454 billion.

Housing loan interest rate was unchanged in November

The average housing loan rate for households for new agreements was 1.57 percent in November, which means that the interest rate was unchanged compared with October. The floating interest rate for housing loans increased with 0.01 percentage points compared with October and amounted to 1.55 percent in November.

The average interest rate for new deposits by households in bank accounts was 0.08 percent in November, which means it increased with 0,01 percentage points compared with October. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 0.11 percent in November, which means it also increased with 0,01 percentage points compared with October.

The average interest rate for loans for new agreements to corporations increased from 1.32 percent in October to 1.35 percent in November. The floating rate decreased compared with the previous month, and amounted to 1.32 percent in November. This can be compared with October, when the rate was 1.33 percent.

The average interest rate for new bank deposits to corporations amounted to 0.01 percent in November, which means it remained unchanged compared with October. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.09 percent in November, compared with -0.14 percent in October.

Interest rate and growth, lending to households and non-financial corporations
 Interest rate, new agreements to householdsHouseholds' interest rates for housing loans for new agreementsGrowth rate, lending to householdsInterest rate, new agreements to non-financial corporationsGrowth rate, lending to non-financial corporations
Nov-16
1.88% 1.57% 7.2% 1.22% 5.1%
Oct-17
1.89% 1.57% 7.1% 1.32% 3.4%
Nov-17
1.89% 1.57% 7.1% 1.35% 4.9%

Decreased growth rate for M3

The annual growth rate for the narrow monetary aggregate, M1, amounted to 8.7 percent in November, which is a decrease compared with October when it was 9.2 percent. M1 amounted to SEK 2 696 billion in November.

The growth rate for the broad monetary aggregate, M3, decreased from 8.2 percent in October to 7.9 percent in November. M3 amounted in total to SEK 3 277 billion in November.

Money supply, annual growth rate
Financial Market Statistics, November 2017

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

2018-01-26 at 09:30.

Statistical Database

More information is available in the Statistical Database

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Statistical agency and producer

Statistics Sweden, Financial Market Statistics Unit

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Nina Engström

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Viktor Morell

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