Financial Market Statistics, June 2017:
Growth rate for household loans increased
Statistical news from Statistics Sweden 2017-07-27 9.30
In June, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.1 percent, which means that the growth rate increased by 0.2 percentage points compared with May. Households’ loans from MFIs amounted to SEK 3 653 billion in total in June. This is an increase of SEK 28 billion compared with the previous month and of SEK 230 billion compared with the corresponding month last year.
In June, households’ housing loans amounted to SEK 3 005 billion, which means that lending exceeded SEK 3 000 billion for the first time. This is an increase of SEK 27 billion compared with the previous month, and of SEK 198 billion compared with the corresponding month last year. This means that housing loans had an annual growth rate of 7.2 percent in June, an increase of 0.1 percentage point compared with May.
Households’ loans for consumption had a growth rate of 9.4 percent in June, an increase compared with May, when it was 7.3 percent. The growth rate for loans with other collateral was 5.5 percent in June, an increase from the previous month, when it was 5.1 percent. In June, household consumption credits and loans with other collateral totalled SEK 201 billion and SEK 447 billion respectively.
Credit growth for non-financial corporations decreased
In June, the annual growth rate for loans to non-financial corporations was 3.5 percent, compared with the previous month, when it was 4.7 percent. Lending by MFIs to non-financial corporations totalled SEK 2 152 billion.
Multi-dwelling buildings is the most common form of security for lending to non-financial corporations, and amounted to SEK 699 billion in June. Unsecured credit to enterprises amounted to SEK 370 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 440 billion.
Housing loan interest rate remains unchanged
The average housing loan interest rate for households for new agreements was 1.57 percent in June. This means that the interest rate remained unchanged compared with May. The floating interest rate for housing loans decreased by 0.01 percentage point compared with May, to 1.55 percent.
In June, the average interest rate for new bank deposits by households was 0.07 percent, unchanged from May. The interest rate on accounts with fixed periods or a limited number of free withdrawals also remained unchanged and amounted to 0.09 percent in June.
The average interest rate for loans for new agreements to corporations rose from 1.06 percent in May to 1.22 percent in June. The floating rate also increased from the previous month, and amounted to 1.24 percent in June. This can be compared with May, when the rate was 1.00 percent.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in June, which means it remained unchanged compared with May. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.07 percent in June, compared with 0.05 percent in May.
| 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 | |
|---|---|---|---|---|---|
Jun-16 |
1.84% | 1.62% | 7.7% | 1.31% | 7.0% |
May-17 |
1.90% | 1.57% | 6.9% | 1.06% | 4.7% |
Jun-17 |
1.86% | 1.57% | 7.1% | 1.22% | 3.5% |
Higher growth rate for M1 and M3
The annual growth rate of the narrow monetary aggregate, M1, amounted to 11.3 percent in June, which is an increase compared with May, when it was 10.3 percent. M1 amounted to SEK 2 652 billion in June.
The growth rate for the broad monetary aggregate, M3, increased from 8.8 percent in May to 10.0 percent in June. M3 amounted to SEK 3 219 billion in total in June.
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).
Next publishing will be
2017-08-25 at 09:30.
Statistical Database
More information is available in the Statistical Database
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