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Financial market statistics, August 2020

Growth rate of lending to non-financial corporations declined in August

Statistical news from Statistics Sweden 2020-09-25 9.30

In August 2020, lending to non-financial corporations from monetary financial institutions had an annual growth rate of 4.9 percent. After an increase in March and April, the growth rate has since declined. The corresponding growth rate for lending to households was 5.2 percent.

About the publication

Statistics Sweden’s monthly publication of financial markets statistics covers mainly monetary financial institutions (MFIs), but also includes new institutes on mortgage markets, known as mortgage credit companies. Unless otherwise stated, the statistical news refers to MFIs.

The publication includes balance sheet statistics (including lending and deposits), interest rates, and monetary aggregates. International banking statistics is also published on a quarterly basis.

Developments in August 2020 in brief

Lending

  • The annual growth rate of lending to households was 5.2 percent. The growth rate of lending to households has been broadly unchanged over the past year. Mortgages, which accounted for 82 percent of total lending to households, had an annual growth rate of 5.3 percent. The growth rate of households’ consumption loans was 6.2 percent.
  • The annual growth rate of lending to non-financial corporations was 4.9 percent. After an increase in March and April, the growth rate has since declined.
  • In total, lending from MFIs to households and non-financial corporations amounted to SEK 6 881 billion, of which loans to households accounted for 63 percent (SEK 4 350 billion), and loans to non-financial corporations accounted for 37 percent (SEK 2 531 billion).
Lending to households and non-financial corporations, annual growth rate

diagram

  • The annual growth rate of mortgages from new institutes on mortgage markets, known as mortgage credit companies, is generally significantly higher than that of MFIs. The growth rate of mortgages from mortgage credit companies was 42.5 percent in August and accounted for 0.71 percent (SEK 25 billion) of total mortgages to households. 

Interest rates on lending and deposits

  • The average interest rate on new mortgages to households was 1.50 percent, while the floating rate on mortgages was 1.56 percent. 
  • The average interest rate on new loans to non-financial corporations was 1.67 percent, while the floating interest rate for new loans to non-financial corporations was 1.82 percent. 

Interest rates on new loans: mortgages and loans to non-financial corporations

diagram

  • Households’ average interest rate on new bank deposits was 0.10 percent. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 0.23 percent.
  • Non-financial corporations’ average interest rate for new bank deposits was 0.02 percent. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.02 percent.

Interest rates on new bank deposits: households and non-financial corporations

diagram

Definitions and explanations

Monetary financial institutions (MFIs) comprise banks, housing credit institutions, finance companies, institutions financing municipalities and companies, monetary securities companies and monetary investment funds (money market funds).

Mortgage credit companies refers to non-MFI institutions that have authorisation from Finansinspektionen to issue mortgages. Usually, mortgage credit companies sell the mortgages to alternative investment funds (AIFs). The AIFs included in the financial markets statistics are linked to mortgage credit companies, and whose assets mainly comprise mortgages.

Growth rates are calculated to illustrate the development of transactions as from the corresponding period the previous year. The rates are calculated based on changes in stocks; adjustments are made so that the growth rate is not affected by stock changes unrelated to transactions, for example if an institute is added or removed from the population.

Next publishing will be

The next statistical news in this series is scheduled for publication on 2020-10-27.

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.

Statistical agency and producer

Statistics Sweden, Financial Market Statistics Unit

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Tina Hansson

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