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Financial market statistics, November 2018

Lower growth rate in November on households’ loans

Statistical news from Statistics Sweden 2019-01-03 9.30

In November 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 5.7 percent, which means that the growth rate decreased by 0.1 percentage point compared with October.

Households’ loans from MFIs amounted to SEK 3 997 billion in total in November. This is an increase of SEK 19 billion compared with the previous month and SEK 207 billion compared with the corresponding month last year.

Housing loans made up 82 percent of MFIs’ total lending to households and amounted to SEK 3 276 billion in November. This is an increase of SEK 18 billion compared with the previous month and SEK 176 billion compared with the corresponding month last year. The annual growth rate of housing loans was 5.8 percent in November, a decrease of 0.1 percentage point compared with October.

The growth rate of households’ loans for consumption was 8.4 percent in November, which is 0.3 percentage points higher compared with October, when it was 8.1 percent. The growth rate of loans with other collateral was 4.0 percent in November, a decrease of 0.1 percentage point compared with October. In November, household consumption credits and loans with other collateral totalled SEK 223 billion and SEK 497 billion, respectively.

Growth rate, lending to households and non-financial corporations
Namnlös

Growth rate of loans to corporations decreased

In November, the annual growth rate on loans to non-financial corporations was 6.5 percent, which is a decrease of 1.2 percentage points compared with 7.7 percent in October. Lending by MFIs to non-financial corporations totalled SEK 2 310 billion in November.

Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 760 billion in November. Unsecured credit to enterprises amounted to SEK 401 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 482 billion.

Housing loan rate declined

Households’ average housing loan rate on new agreements was 1.46 percent in November, a decrease of 0.01 percentage point compared with October. The floating interest rate on housing loans declined by 0.02 percentage points compared with October and amounted to 1.41 percent in November.
The average interest rate for new deposits by households in bank accounts was 0.07 percent, unchanged from October. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.13 percent in November, also unchanged from October.

The average interest rate on loans for new agreements to non-financial corporations decreased from 1.22 percent in October to 1.14 percent in November. The floating rate fell by 0.12 percentage points from the previous month and amounted to 1.06 percent in November.

Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.00 percent in November, unchanged from October. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to -0.17 percent in November, a decrease of 0.03 percentage points compared with October.

Interest rate and growth, lending to households and non-financial corporations
  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
November-17
1.89% 1.57% 7.1% 1.35% 4.8%
October-18
1.85% 1.47% 5.8% 1.22% 7.7%
November-18
1.79% 1.46% 5.7% 1.14% 6.5%

M3 growth rate increased

The annual growth rate of the narrow monetary aggregate, M1, amounted to 7.7 percent in November, an increase of 1.3 percentage points compared with October. M1 amounted to SEK 2 904 billion in November.

The growth rate of the broad monetary aggregate, M3, amounted to 4.8 percent in November, an increase of 0.3 percentage points compared with October. M3 amounted to SEK 3 436 billion in total in November.

Money supply, annual growth rate
Namnlös

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

2019-01-28 at 09:30.

Statistical Database

More information is available in the Statistical Database

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Statistical agency and producer

Statistics Sweden, Financial Market Statistics Unit

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Tina Hansson

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Viktor Morell

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