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Financial market statistics, July 2019

Growth rate of households’ loans unchanged in July

Statistical news from Statistics Sweden 2019-08-27 9.30

In July 2019, the annual growth rate of loans to households from monetary financial institutions (MFIs) was 4.9 percent, which means that the growth rate is unchanged compared with June.

Loans to households from MFIs totalled SEK 4 121 billion in July. This is an increase of SEK 13 billion compared with the previous month and SEK 195 billion compared with the corresponding month last year.

Housing loans accounted for 82 percent of MFIs’ total lending to households and amounted to SEK 3 374 billion in July. This is an increase of SEK 12 billion compared with the previous month and SEK 158 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 4.9 percent in July.

The growth rate of loans to households for consumption was 6.2 percent in July, which is an increase of 0.2 percentage points compared with June. The growth rate of loans with other collateral was 4.1 percent in July, unchanged compared with June. Household consumption credits and loans with other collateral totalled SEK 238 billion and SEK 509 billion respectively July.

Growth rate, lending to households and non-financial corporations
Financial market statistics, July 2019

Growth rate of loans to corporations increased

In July, the annual growth rate of loans to non-financial corporations was 5.5 percent, an increase of 0.3 percentage points compared with June. Lending by MFIs to non-financial corporations totalled SEK 2 409 billion in July.

Multi-dwelling buildings is the most common form of security for lending to non-financial corporations and amounted to SEK 789 billion in July. Unsecured credit to enterprises amounted to SEK 404 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 487 billion.

Housing loan rate unchanged

Households’ average housing loan rate on new agreements was 1.52 percent in July, unchanged compared with June. The floating housing loan rate was 1.54 percent in July, also unchanged compared with June.

The average interest rate on new deposits by households in bank accounts was 0.08 percent in July, an increase of 0.01 percentage point compared with June. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.17 percent in July, unchanged compared with June.

The average interest rate on loans for new agreements to non-financial corporations was 1.42 percent in July, which is an increase of 0.06 percentage points compared with June. The floating rate increased by 0.06 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, which is unchanged compared with June. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.03 percent in July, an increase of 0.06 percentage points compared with June.

Interest rate and growth, lending to households and non-financial corporations
 Interest rate, new agreements to householdsHouseholds' interest rates for housing loans for new agreementsGrowth rate, lending to householdsInterest rate, new agreements to non-financial corporationsGrowth rate, lending to non-financial corporations
July-18
1.91% 1.48% 6.2% 1.43% 5.8%
June-19
1.86% 1.52% 4.9% 1.36% 5.2%
July-19
1.98% 1.52% 4.9% 1.42% 5.5%

Solid growth rate for M3

The annual growth rate of the narrow monetary aggregate, M1, amounted to 7.9 percent in July, an increase of 1.1 percentage points compared with June. M1 amounted to SEK 3 052 billion in July.

The growth rate of the broad monetary aggregate, M3, amounted to 8.2 percent in July, an increase of 1.8 percentage points compared with 6.4 percent in June. M3 amounted to SEK 3 645 billion in total in July.

Money supply, annual growth rate
Financial market statistics, July 2019

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 M1, M3 also includes deposits with certain conditions, repos, shares in money market funds, and short-term securities.

Definitions and explanations

Statistics Sweden compiles financial market statistics on a monthly basis 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

2019-09-26 at 09:30.

Statistical Database

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Statistics Sweden, Financial Market Statistics Unit

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