Statistical news from Statistics Sweden
2016-11-25 9:30 AM Nr 2016:769
Financial Market Statistics, October 2016:
Lower growth rate for household loans
Monetary financial institutions’ (MFIs) loans to households increased at an annual rate of 7.3 percent in October. This is a decrease of 0.2 percentage points compared with September. Households' loans from MFIs amounted to a total SEK 3 493 billion in October. This is an increase of SEK 15 billion compared with the previous month and SEK 232 billion compared with the corresponding month last year.
In October, households' housing loans amounted to SEK 2 865 billion. This is an increase of SEK 13 billion compared with the previous month and SEK 210 billion compared with the corresponding month last year. Housing loans thus had an annual growth rate of 7.9 percent in October, a decrease of 0.3 percentage points compared with September.
Households' loans for consumption had a 4.8 percent growth rate in October, which is a decrease compared with September when it was 4.9 percent. The growth rate for loans with other collateral was 4.7 percent in October. This is an increase of 0.1 percentage points compared with the previous month. In October, household consumption credits and loans with other collateral totalled SEK 185 billion and SEK 443 billion respectively.
Lending to households and non-financial corporations
Annual growth rate, %
Lower credit growth for corporate loans
In October, the annual growth rate was 6.2 percent for loans to non-financial corporations, which is a decrease of 1.1 percentage points compared with the previous month. Lending by MFIs to non-financial corporations totalled SEK 2 084 billion. This is an increase of SEK 2 billion compared to the previous month. Due to large stock increases earlier in the year, lending to non-financial corporations has increased by SEK 87 billion compared with October 2015.
Most of the loans to non-financial corporations comprised loans with multi-dwelling buildings as collateral. These amounted to SEK 665 billion in October. Unsecured credit to enterprises amounted to SEK 381 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 410 billion.
Interest rate for housing loans dropped in October
The average interest rate for housing loans for new agreements was 1.59 percent in October, which means that it decreased compared with September, when the average interest rate was 1.60 percent. The floating rate for housing loans was 1.58 percent in October and was thus unchanged compared with September.
In October, the average interest rate for new bank deposits by households was 0.07 percent, which is the same as it was in September. The interest rate on accounts with fixed periods or a limited number of free withdrawals was also unchanged and amounted to 0.09 percent in October.
The average interest rate for loans for new agreements to corporations decreased from 1.32 percent in September to 1.26 percent in October. The floating interest rate decreased from 1.35 percent in September to 1.22 percent in October.
Interest rate and growth, lending to households and non-financial corporations
| ||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|
Lower growth rate for M1 and M3
The growth rate for the broad measure of money supply, M3, decreased from 8.8 percent in September to 7.5 percent in October. In total, the M3 amounted to SEK 2 973 billion in October.
The annual growth rate for the narrow monetary aggregate M1 amounted to 9.8 percent in October, which is a decrease compared with September, when it was 11.1 percent. M1 amounted to SEK 2 450 billion in October.
Money supply, annual growth rate
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 the MFI report. 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).