Financial market statistics, August 2019
Growth rate of households’ loans unchanged in August
Statistical news from Statistics Sweden 2019-09-26 9.30
In August 2019, the annual growth rate of loans to households from monetary financial institutions (MFIs) was 4.9 percent, which means that the growth rate is unchanged compared with July.
Loans to households from MFIs totalled SEK 4 138 billion in August. This is an increase of SEK 17 billion compared with the previous month and SEK 195 billion compared with the corresponding month last year.
Housing loans accounted for 82 percent of MFIs’ total lending to households and amounted to SEK 3 389 billion in August. This is an increase of SEK 14 billion compared with the previous month and SEK 158 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 4.9 percent in August.
The growth rate of loans to households for consumption was 6.4 percent in August, which is an increase of 0.2 percentage points compared with July. The growth rate of loans with other collateral was 4.0 percent in August, a decrease of 0.1 percentage point compared with July. Household consumption credits and loans with other collateral totalled SEK 239 billion and SEK 510 billion respectively in August.
Growth rate of loans to corporations decreased
In August, the annual growth rate of loans to non-financial corporations was 5.1 percent, a decrease of 0.4 percentage points compared with July. Lending by MFIs to non-financial corporations totalled SEK 2 413 billion in August.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 790 billion in August. Unsecured credit to enterprises amounted to SEK 402 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 487 billion.
Housing loan rate lowered
Households’ average housing loan rate on new agreements was 1.52 percent in August, a decrease of 0.01 percentage point compared with July (revised). The floating housing loan rate was 1.53 percent in August, which is a decrease of 0.02 percentage points compared with July (revised).
The average interest rate on new deposits by households in bank accounts was 0.10 percent in August, unchanged compared with July (revised). The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.19 percent in August, an increase of 0.01 percentage point compared with July (revised).
The average interest rate on loans for new agreements to non-financial corporations was 1.42 percent in August, which is a decrease of 0.05 percentage points compared with July (revised). The floating rate decreased by 0.03 percentage points from the previous month (revised) and amounted to 1.49 percent in August.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.02 percent in August, which is an increase of 0.01 percentage point compared with July. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.03 percent in August, a decrease of 0.01 percentage point compared with July (revised).
The sample of institutions reporting interest rate statistics (MIR) has increased to better cover consumption loans, causing published interest rates to increase for some series. Due to the change in the sample, several series have been revised from April 2019 and onward. For credit card credits and other revolving loans, the whole outstanding volume is defined as new agreements, which means that the higher interest rates also impact all new agreements, even though credit card credits and other revolving loans only account for 2 percent of households’ loans in total.
| 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 | |
|---|---|---|---|---|---|
|
August-18
|
1.88% | 1.46% | 6.1% | 1.33% | 7.2% |
|
July-19
|
1.99% | 1.53% | 4.9% | 1.47% | 5.5% |
|
August-19
|
1.96% | 1.52% | 4.9% | 1.42% | 5.1% |
Decreased growth rate for M3
The annual growth rate of the narrow monetary aggregate, M1, amounted to 8.0 percent in August, an increase of 0.1 percentage point compared with July. M1 amounted to SEK 3 047 billion in August.
The growth rate of the broad monetary aggregate, M3, amounted to 7.9 percent in August, a decrease of 0.2 percentage points compared with 8.1 percent in July (revised). M3 amounted to SEK 3 633 billion in total in August.
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 M1, M3 also includes deposits with certain conditions, repos, shares in money market funds, and short-term securities.
Definitions and explanations
Statistics Sweden compiles financial market statistics on a monthly basis 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
2019-10-25 at 09:30.
Statistical Database
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