Financial market statistics, March 2019
Lower growth rate for households’ loans in March
Statistical news from Statistics Sweden 2019-04-29 9.30
In March 2019, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 5.0 percent, which means that the growth rate decreased by 0.2 percentage points compared with February (revised).
Households’ loans from MFIs totalled SEK 4 050 billion in March. This is an increase of SEK 15 billion compared with the previous month and SEK 194 billion compared with the corresponding month last year.
Housing loans make up 82 percent of MFIs’ total lending to households and amounted to SEK 3 319 billion in March. This is an increase of SEK 11 billion compared with the previous month and SEK 158 billion compared with the corresponding month last year. Thus, housing loans had an annual growth rate of 5.0 percent in March, a decrease of 0.2 percentage points compared with February.
Households’ loans for consumption had a growth rate of 7.3 percent in March, which is one percentage point lower compared with February, when it was 8.3 percent. The growth rate for loans with other collateral was 4.0 percent in March, a decrease of 0.1 percentage point compared with February (revised). Households’ consumption credits and loans with other collateral totalled SEK 229 billion and SEK 502 billion respectively in March.
Growth rate of loans to corporations decreased
In March, the annual growth rate for loans to non-financial enterprises was 6.0 percent, a decrease of 0.2 percentage points compared with February, when it was 6.2 percent. Lending by MFIs to non-financial corporations totalled SEK 2 357 billion in March.
Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 773 billion in March. Unsecured credit to enterprises amounted to SEK 367 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 485 billion.
Housing loan rate declined
Households’ average housing loan rate for new agreements was 1.56 percent in March, a decrease of 0.02 percentage points compared with February. The floating housing loan rate amounted to 1.56 percent in March, also a decrease of 0.02 percentage points compared with February.
The average interest rate for new deposits by households in bank accounts was 0.07 percent in March, unchanged from February (revised). The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.15 percent in March, an increase of 0.01 percentage point compared with February.
The average interest rate for loans for new agreements to non-financial corporations fell from 1.31 percent in February to 1.27 percent in March. The floating rate increased by 0.01 percentage point compared with the previous month and amounted to 1.31 percent in March.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.01 percent in March, unchanged from February (revised). The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.04 percent in March, an increase of 0.06 percentage points compared with February.
| 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 | |
|---|---|---|---|---|---|
|
March-18
|
1.87% | 1.56% | 6.9% | 1.33% | 6.2% |
|
February-19
|
1.93% | 1.58% | 5.2% | 1.31% | 6.2% |
|
March-19
|
1.87% | 1.56% | 5.0% | 1.27% | 6.0% |
Reduced M3 growth rate
The annual growth rate of the narrow monetary aggregate, M1, amounted to 7.0 percent in March, a decrease of 0.4 percentage points compared with February. M1 amounted to SEK 2 969 billion in March.
The growth rate for the broad monetary aggregate, M3, amounted to 5.7 percent in March, a decrease of 1.1 percentage points compared with 6.8 percent in February. M3 amounted to SEK 3 531 billion in total in March.
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
2019-05-28 at 09:30.
Statistical Database
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