Securities statistics, July 2017:
The weakened USD reduced the value of borrowing in July
Statistical news from Statistics Sweden 2017-08-16 9.30
The total Swedish debt in securities declined by SEK 49 billion to SEK 7 499 billion in July. The reduction was chiefly caused by a weakening of the USD against the SEK, which meant that the value of Swedish debt in USD fell by SEK 54 billion. Another explanation for the reduction is the maturity of securities denominated in EUR and GBP and the weakening of the EUR against the SEK.
The value of borrowing in bonds declined by SEK 78 billion in July, primarily as a result of exchange rate fluctuations in USD and EUR that caused the value of USD-denominated bonds to drop by SEK 42 billion and the value of EUR-denominated bonds to drop by SEK 13 billion. In addition to the exchange rate effect, the value of borrowing in bonds was affected by maturity and repurchases of bonds denominated in EUR and GBP and new issues of bonds denominated in SEK.
Short-term borrowing increased by SEK 29 billion in value in July, primarily due to new issues of money market instruments denominated in USD and EUR. Net borrowing in money market instruments denominated in USD increased by SEK 33 billion and net borrowing in money market instruments denominated in EUR increased by SEK 17 billion. At the same time, short-term net borrowing in GBP fell by SEK 10 billion.
In the bank sector, borrowing in bonds dropped by a total of SEK 81 billion, partly due to exchange rate fluctuations in USD and EUR that caused securities denominated in those currencies to lose value in SEK, and partly due to repurchases and maturity of bonds denominated in EUR, GBP, SEK and USD. On the other hand, short-term borrowing increased by SEK 8 billion due to new issues of money market instruments denominated in EUR and USD.
In the housing sector, borrowing increased by SEK 10 billion due to a net issue of bonds denominated in SEK at a value of SEK 15 billion. At the same time, exchange rate fluctuations reduced the value of current outstanding bonds denominated in USD and EUR by a total of SEK 5 billion.
Exchange rate fluctuations also reduced the value of long-term borrowing for other MFI – i.e., monetary financial institutions that are not banks or housing credit institutions. The reduction amounted to SEK14 billion while the value of short-term debt rose by SEK 25 billion due to new issues in USD- and SEK-denominated money market instruments.
Next publishing will be
2017-09-18 at 9:30.
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