Financial market statistics, July 2018:
Lower growth rate on households’ loans in July
Statistical news from Statistics Sweden 2018-08-27 9.30
In July 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 6.2 percent, which means that the growth rate decreased by 0.1 percentage points compared with June.
Households’ loans from MFIs totalled SEK 3 927 billion in July. This is an increase of SEK 11 billion compared with the previous month and SEK 226 billion compared with the corresponding month last year.
Housing loans made up 82 percent of MFIs’ total borrowing to households and amounted to SEK 3 216 billion in July. This is an increase of SEK 10 billion compared with the previous month and SEK 190 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 6.4 percent in July, a decrease of 0.1 percentage points compared with June.
The growth rate of households’ consumption loans was 6.4 percent in July, an increase of 0.3 percentage points compared with June, when it was 6.1 percent. The growth rate of loans with other collateral was 4.8 percent in July, unchanged compared with June. In July, total household consumption credits and loans with other collateral were SEK 218 billion and SEK 493 billion, respectively.
Growth rate of loans to corporations decreased
In July, the annual growth rate of loans to non-financial corporations was 5.8 percent, which is a decrease of 1.7 percentage points compared with June. Lending by MFIs to non-financial corporations totalled SEK 2 283 billion in July.
Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 750 billion in July. Unsecured credit to enterprises amounted to SEK 414 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 476 billion.
A minor decrease in housing loan rate
Households’ average housing loan rate on new agreements was 1.48 percent in July, a decrease of 0.01 percentage points compared with June. The floating interest rate on housing loans was 1.46 percent, unchanged from last month.
In July, households’ average interest rate on new deposits in bank accounts was 0.07 percent, which means an increase of 0.01 percentage points compared with June. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.12 percent in July.
The average interest rate on loans for new agreements to non-financial corporations increased from 1.19 percent in June to 1.43 percent in July. The floating rate rose by 0.24 percentage points from the previous month and amounted to 1.44 percent in July.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.01 percent in July, unchanged from June. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.10 percent in July, compared with -0.12 percent in June.
| 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 | |
|---|---|---|---|---|---|
|
July-17
|
1.94% | 1.58% | 6.9% | 1.25% | 5.1% |
|
June-18
|
1.81% | 1.49% | 6.3% | 1.19% | 7.5% |
|
July-18
|
1.91% | 1.48% | 6.2% | 1.43% | 5.8% |
Reduced M3 growth rate
The annual growth rate of the narrow monetary aggregate, M1, amounted to 6.3 percent in July, which is a decrease compared with 7.6 percent in June. M1 amounted to SEK 2 827 billion in July.
The growth rate of the broad measure of money supply, M3, decreased from 5.4 percent in June to 5.1 percent in July. M3 amounted to SEK 3 370 billion in total in July.
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
2018-09-27 at 09:30.
Statistical Database
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