Financial market statistics, February 2017:
Lower growth rate for households’ housing loans in February
Statistical news from Statistics Sweden 2018-03-27 9.30
In February 2018, the annual growth rate for housing loans from monetary financial institutions (MFIs) to households was 7.2 percent, down by 0.1 percentage point from January. Housing loans accounted for 82 percent of MFIs’ total lending to households and amounted to SEK 3 146 billion in February. The annual growth rate for MFIs’ total lending to households remained unchanged and amounted to 7.0 percent.
Households’ loans from MFIs totalled SEK 3 836 billion in February. This is an increase of SEK 14 billion compared with the previous month and SEK 240 billion compared with the corresponding month last year. Housing loans increased by SEK 16 billion compared with the previous month and SEK 213 billion compared with the corresponding month last year.
The growth rate for households’ loans for consumption was 7.7 percent in February. This is an increase from January, when the growth rate was 7.2 percent. The growth rate for loans with other collateral was 4.9 percent in February, down from 5.3 percent in the previous month. Households’ consumption credits and loans with other collateral totalled SEK 208 billion and SEK 482 billion, respectively, in February.
Increased growth rate for loans to corporations
In February, the annual growth rate for loans to non-financial corporations was 6.0 percent, which is an increase of 0.1 percentage point compared with January. Lending by MFIs to non-financial corporations totalled SEK 2 210 billion in February.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 728 billion in February. Unsecured credit to enterprises amounted to SEK 385 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 462 billion.
Housing loan rates unchanged in February
The average housing loan rate for households for new agreements was 1.55 percent in February, unchanged from January. The floating interest rate for housing loans also remained unchanged and amounted to 1.52 percent in February.
The average interest rate for new deposits by households in bank accounts was 0.07 percent in February, unchanged from January. The interest rate on accounts with fixed periods or a limited number of free withdrawals increased and amounted to 0.12 percent in February.
The average interest rate for loans for new agreements to corporations decreased from 1.35 percent in January to 1.30 percent in February. The floating rate fell by 0.08 percentage points from the previous month and amounted to 1.27 percent in February.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in February, which means it remained unchanged from January. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.12 percent in February, compared with -0.14 percent in January.
| 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 | |
|---|---|---|---|---|---|
|
Feb-17
|
1.88% | 1.58% | 7.1% | 1.30% | 4.8% |
|
Jan-18
|
1.90% | 1.55% | 7.0% | 1.35% | 5.9% |
|
Feb-18
|
1.87% | 1.55% | 7.0% | 1.30% | 6.0% |
Reduced M3 Growth rate
The annual growth rate for the narrow monetary aggregate M1 amounted to 8.0 percent in February, which is a decrease compared with January, when it was 8.4 percent. M1 amounted to SEK 2 719 billion in February.
The growth rate for the broad monetary aggregate M3 increased from 5.4 percent (revised) in January to 6.4 percent in February. M3 amounted to SEK 3 269 billion in total in February.
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 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
2018-04-27 at 09:30.
Statistical Database
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