Financial market statistics, January 2019
Lower growth rate in January on households’ loans
Statistical news from Statistics Sweden 2019-02-27 9.30
In January 2019, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 5.4 percent, which means that the growth rate decreased by 0.1 percentage point compared with December.
Households’ loans from MFIs totalled SEK 4 025 billion in January. This is an increase of SEK 12 billion compared with the previous month and SEK 203 billion compared with the corresponding month last year.
Housing loans accounted for 82 percent of MFIs’ total lending to households and amounted to SEK 3 299 billion in January. This is an increase of SEK 9 billion compared with the previous month and SEK 169 billion compared with the corresponding month last year. Housing loans had an annual growth rate of 5.5 percent in January, a decrease of 0.1 percentage point compared with December.
The growth rate of households’ loans for consumption was 7.8 percent in January, which is 0.2 percentage points lower than in December, when it was 8.0 percent. The growth rate for loans with other collateral was 3.8 percent in January, which means that it declined by 0.2 percentage points compared with December. In January, household consumption credits and loans with other collateral totalled SEK 227 billion and SEK 498 billion, respectively.
Growth rate of loans to corporations decreased
In January, the annual growth rate for loans to non-financial corporations was 5.7 percent, a decrease of 0.5 percentage points compared with 6.2 percent in December. Lending by MFIs to non-financial corporations totalled SEK 2 315 billion in January.
Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 762 billion in January. Unsecured credit to enterprises amounted to SEK 352 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 483 billion.
Higher housing loan rate
Households’ average housing loan rate on new agreements was 1.58 percent in January, an increase of 0.09 percentage points compared with December. The floating housing loan rate increased by 0.13 percentage points compared with December and amounted to 1.58 percent in January.
The average interest rate for new deposits by households in bank accounts was 0.11 percent, an increase of 0.04 percentage points compared with December. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.14 percent in January, unchanged from December.
The average interest rate for loans for new agreements to non-financial corporations rose from 1.31 percent in December to 1.41 percent in January. The floating rate increased by 0.12 percentage points from the previous month and amounted to 1.43 percent in January.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.08 percent in January, an increase of 0.07 percentage points compared with December. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.07 percent in January, an increase of 0.18 percentage points compared with 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 | |
|---|---|---|---|---|---|
|
January-18
|
1.90% | 1.55% | 7.0% | 1.35% | 5.8% |
|
December-18
|
1.75% | 1.49% | 5.5% | 1.31% | 6.2% |
|
January-19
|
1.89% | 1.58% | 5.4% | 1.41% | 5.7% |
M3 growth rate increased
The annual growth rate of the narrow monetary aggregate, M1, amounted to 6.5 percent in January, a decrease of 1.1 percentage point compared with December. The M1 amounted to SEK 2 924 billion in January.
The growth rate for the broad monetary aggregate, M3, amounted to 6.6 percent in January, an increase of 0.7 percentage points compared with December, when it was 5.9 percent (revised). M3 amounted to SEK 3 495 billion in total in January.
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
2019-03-27 at 09:30.
Statistical Database
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