Financial market statistics , November 2016:
Lower growth rate for household loans
Statistical news from Statistics Sweden 2016-12-28 9.30
In November, the annual growth rate for households’ loans from monetary financial institutions (MFIs) continued to decrease. The growth rate amounted to 7.2 percent, which is a downturn of 0.1 percentage points compared with October. The downturn was mainly due to housing loans, with an annual growth rate of 7.8 percent in November, which was a decrease of 0.1 percentage points compared with October.
Households’ loans from MFIs amounted to SEK 3 511 billion in total in November. This is an increase of SEK 18 billion compared with the previous month and SEK 232 billion compared with the corresponding month last year. Housing loans amounted to SEK 2 882 billion in November, which is an increase of SEK 17 billion compared with the previous month and SEK 209 billion compared with the same month last year.
The growth rate of households’ loans for consumption was 5.1 percent in November, which is an increase compared with October, when it was 4.8 percent. The growth rate for loans with other collateral was 4.4 percent in November, which is a decrease of 0.3 percentage points compared with the previous month. In November, household consumption credits and loans with other collateral totalled SEK 186 billion and SEK 443 billion respectively.
Lower growth rate for corporate loans
In November, the annual growth rate for loans to non-financial corporations was 5.2 percent, which is a decrease of 1.0 percentage points compared with the previous month. Lending by MFIs to non-financial corporations totalled SEK 2 083 billion. This is a decrease of SEK 1 billion compared with the previous month. Due to large stock increases earlier in the year, lending to non-financial corporations has increased by SEK 79 billion compared with November 2015.
Most of the loans to non-financial corporations comprised loans with multi-dwelling buildings as collateral. These amounted to SEK 669 billion in November. Unsecured credit to enterprises amounted to SEK 375 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 412 billion.
Interest rate for housing loans decreased in November
The average interest rate for housing loans for new agreements was 1.57 percent in November, which means that it dropped compared with October, when it was 1.59 percent. The floating rate for housing loans also fell, and amounted to 1.56 percent in November, compared with 1.58 percent in October.
In November, the average interest rate for new bank deposits by households was 0.07 percent, which is the same as it was in October. The interest rate on accounts with fixed periods or a limited number of free withdrawals was also unchanged and amounted to 0.09 percent in November.
The average interest rate for loans for new agreements to corporations decreased from 1.26 percent in October to 1.22 percent in November. The floating interest rate decreased from 1.22 percent in October to 1.14 percent in November.
| 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 | |
|---|---|---|---|---|---|
|
Nov-15
|
1.89% | 1.59% | 7.3% | 1.32% | 4.2% |
|
Oct-16
|
1.90% | 1.59% | 7.3% | 1.26% | 6.2% |
|
Nov-16
|
1.88% | 1.57% | 7.2% | 1.22% | 5.2% |
Higher growth rate for M1 and M3
The growth rate for the broad measure of money supply, M3, increased from 7.5 percent in October to 8.7 percent in November. In total, the M3 amounted to SEK 3 002 billion in November.
The annual growth rate for the narrow monetary aggregate, M1, amounted to 9.9 percent in November, which is an increase compared with October, when it was 9.8 percent. In November, M1 amounted to SEK 2 471 billion.
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 the MFI report. 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
2017-01-27 at 09:30.
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