Financial market statistics, January 2017:
Growth rate for households’ loans unchanged in January
Statistical news from Statistics Sweden 2018-02-27 9.30
In January 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.0 percent, which means that the growth rate remained unchanged compared with December.
In total, households’ loans from MFIs amounted to SEK 3 821 billion in January. This is an increase of SEK 12 billion compared with the previous month and SEK 240 billion compared with the corresponding month last year.
In January, households’ housing loans amounted to SEK 3 130 billion. This is an increase of SEK 13 billion compared with the previous month and SEK 213 billion compared with the corresponding month last year. This means that housing loans had an annual growth rate of 7.3 percent in January, an increase of 0.1 percentage point compared with December.
Households’ loans for consumption had a growth rate of 7.2 percent in January. This is lower than in December, when the growth rate was 7.3 percent. The growth rate for loans with other collateral was 5.3 percent in January, down from 5.5 percent in the previous month. Households’ consumption credits and loans with other collateral totalled SEK 210 billion and SEK 482 billion respectively in January.
Increased growth rate for loans to corporations
In January, the annual growth rate for loans to non-financial corporations was 5.9 percent, which can be compared with the previous month, when it was 5.6 percent. Lending by MFIs to non-financial corporations totalled SEK 2 188 billion in January.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 722 billion in January. Unsecured credit to enterprises amounted to SEK 381 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 459 billion.
Housing loan rates remained lower in January
The average housing loan rate for households for new agreements was 1.55 percent in January, down 0.02 percentage points from December. The floating interest rate for housing loans decreased from 1.55 percent in December to 1.52 percent in January.
The average interest rate for new deposits by households in bank accounts was 0.07 percent in January, up 0.01 percentage points from December. Interest rates on accounts with fixed periods or a limited number of free withdrawals remained unchanged from December and amounted to 0.11 percent in January.
The average interest rate for loans for new agreements to corporations rose from 1.31 percent in December to 1.35 percent in January. The floating rate rose by 0.08 percentage points from the previous month and amounted to 1.35 percent in January.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in January, which means it remained unchanged compared with December. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.14 percent in January, compared with -0.10 percent in December.
| 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 | |
|---|---|---|---|---|---|
Jan-17 |
1.88% | 1.58% | 7.1% | 1.33% | 4.6% |
Dec-17 |
1.83% | 1.57% | 7.0% | 1.31% | 5.6% |
Jan-18 |
1.90% | 1.55% | 7.0% | 1.35% | 5.9% |
Reduced M3 Growth rate
The annual growth rate for the narrow monetary aggregate, M1, amounted to 8.4 percent in January, which is an increase compared with December, when it was 7.9 percent. M1 amounted to SEK 2 743 billion in January.
The growth rate for the broad measure of money supply, M3, decreased from 7.0 percent in December to 5.5 percent in January. M3 amounted to SEK 3 279 billion in total in January.
The 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).
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2018-03-27 at 09:30.
Statistical Database
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