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Financial accounts, 2nd quarter 2016:

Lending to households and corporations hits record levels

Statistical news from Statistics Sweden and Swedish Financial Supervisory Authority 2016-09-22 9.30

Banks and housing credit institutions lent historical amounts to households and non-financial corporations during the second quarter of 2016. Net lending amounted to SEK 133 billion. The most recent lending at the corresponding level was during 2007.

Banks and housing credit institutions lent a total of SEK 75 billion to households and SEK 58 billion to non-financial corporations during the second quarter of 2016. The most recent lending at the corresponding level was just before the financial crisis of 2008. Compared to the second quarter of last year, lending to non-financial corporations increased the most.

Net lending of banks and housing credit institutions to households and non-financial corporations, transactions, SEK billions

Chart

Source: Statistics Sweden

The significant lending was partly financed through households' deposits to bank accounts. Despite the low interest rates, households deposited a net value of SEK 71 billion in bank accounts during the quarter.

The Riksbank continued to purchase government bonds

During the second quarter of 2016 the Riksbank continued to conduct an expansive monetary policy by leaving the repo rate unchanged while at the same time continuing to purchase government bonds as a support measure.

This support measure of purchasing government bonds amounted to SEK 39 billion during the second quarter. Over the last two years the Riksbank has made net purchases of government bonds for SEK 236 billion and the total holdings amounted to SEK 250 billion at the end of the quarter.

The Riksbank's holdings and net purchases of government bonds, balance and transactions, SEK billions

Chart

Source: Statistics Sweden

Definitions and explanations

The financial accounts aim to provide information about financial assets and liabilities, as well as about changes in savings and wealth for different economic sectors. The financial accounts' net lending/net borrowing are calculated as the difference between transactions in financial assets and transactions in liabilities. The non-financial national accounts calculate net lending/net borrowing as the difference between income and expenses. Financial accounts and the non-financial national accounts are based on different sources, which give rise to differences. 

Publication

A more detailed report of this survey and a description of significant revisions are available in a Statistical Report.

Next publishing will be

2016-12-21 at 09:30.

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

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Swedish Financial Supervisory Authority

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Statistics Sweden, Financial and Sector Accounts

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Nicolai Nystrand

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Caroline Ahlstrand

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+46 10 479 43 33
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caroline.ahlstrand@scb.se