Households’ financial savings, new savings minus increase in debt, amounted to SEK 59 billion in the second quarter of 2018. Normally, households’ savings are high in the second quarter, as most share dividends are distributed then. Households’ savings were primarily in bank accounts and occupational pensions, SEK 53 billion and SEK 44 billion respectively, which is in line with the previous year. Savings in shares and funds amounted to SEK 7 billion. Net purchases of tenant ownership rights slowed and amounted to SEK 8 billion, which is SEK 4 billion less than in the corresponding period last year.

From a historical perspective, households’ increased borrowing has been highest in the second quarter, and this year borrowing amounted to SEK 60 billion, compared with SEK 77 billion in increased loans in the corresponding quarter in both 2016 and 2017. The most recent amortisation requirement, introduced on 1 March this year, limited households’ borrowing capacity. The annual growth rate in households’ loans has slowed and was 2 percentage points lower in the second quarter of 2018 than the 8.2 percent listing two years previously.

Financial savings of central government were high

Central government financial savings amounted to SEK 34 billion in the second quarter of 2018. In 2017, financial savings of the central government amounted to SEK 83 billion, which is the highest annual listing since 2001.

Revisions

In connection with this publication, revisions were made for the period 1995-2018. Some of the major revisions refer to redistribution between sectors of holdings of Swedish-registered funds, revisions of non-financial corporations’ loans to households, and several revisions with regard to general government. In the primary statistics, nominee-registered funds are registered on the managing institution rather than the final owner. Last year, revisions were made to correct this concerning the years 2009-2017. Now, the period 1998-2008 has also been revised. The revisions mainly affected banks, resulting in decreased holdings in funds, and insurance corporations, pension institutions and households, resulting in increased holdings. The time series for non-financial corporations’ loans to households has been revised with yearly data from the survey Structural Business Statistics and supplementary calculations. Several revisions have also been made with regard to general government. Central government administration accrual of taxes has been revised for 2003-2015, primarily as a result of adjusted energy taxes on electricity. A longer time series on municipal administrations’ transactions and balance in foreign investment fund shares has been added. New calculations of municipalities’ holiday pay liabilities has been introduced and affects the quarterly pattern in the accrual item from 2002 onwards. A more detailed report on revisions with regard to public administration (only available in Swedish)is available in the detailed information on Financial accounts.

The National Wealth, which contains annual data on non-financial and financial assets, is also published in connection with the publication of the Financial accounts. Financial assets and liabilities are collected from the Financial accounts and are thereby consistent with the values published in the Financial accounts.

For further information:

 Nationalförmögenheten och nationella balansräkningar (in Swedish) (pdf) 

 the Statistical database.

The next press release in this series is scheduled for publication on 2018-12-19 at 09.30.