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Financial Market Statistics, October 2017:

Higher growth rate for households´ loans

Statistical news from Statistics Sweden 2017-11-27 9.30

In October, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.1 percent, which means that the growth rate increased by 0.1 percentage points compared with September (revised). Households’ loans from MFIs totalled SEK 3 764 billion in October. This is an increase of SEK 18 billion compared with the previous month and SEK 267 billion compared with the corresponding month last year.

In October, households’ housing loans amounted to SEK 3 080 billion, which is an increase of SEK 17 billion compared with the previous month and SEK 210 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 7.3 percent in October, an increase of 0.1 percentage points compared with September (revised).

Households’ loans for consumption had a growth rate of 7.4 percent in October. This is a decrease compared with September, when the growth rate was 8.2 percent (revised). The growth rate for loans with other collateral was 5.5 percent in October, which means it was unchanged compared with the previous month. In October, household consumption credits and loans with other collateral totalled SEK 202 billion and SEK 482 billion respectively.

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

Decreased credit growth for corporations

In October, the annual growth rate for loans to non-financial corporations was 3.7 percent, which can be compared with the previous month when it was 3.8 percent. Lending by MFIs to non-financial corporations totalled SEK 2 146 billion.

Multi-dwelling buildings is the most common form of security for lending to non-financial corporations, and amounted to SEK 708 billion in October. Unsecured credit to enterprises amounted to SEK 359 billion, and loans to tenant-owner associations, which are considered as non-financial corporations, amounted to SEK 451 billion.

Housing loan interest rate was lower in October

The average housing loan rate for households for new agreements was 1.57 percent in October. This is a decrease of 0.01 percentage points compared with September. The floating interest rate for housing loans also decreased with 0.01 percentage points compared with September and amounted to 1.54 percent in October.

The average interest rate for new deposits by households in bank accounts was 0.07 percent in October, which means it remained unchanged compared with September. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 0.10 percent in October, which means it also remained unchanged compared with September.

The average interest rate for loans for new agreements to corporations decreased from 1.39 percent in September to 1.32 percent in October. The floating rate also decreased compared with the previous month, and amounted to 1.33 percent in October. This can be compared with September, when the rate was 1.47 percent.

The average interest rate for new bank deposits to corporations amounted to 0.01 percent in October, which means it remained unchanged compared with September. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.14 percent in October, compared with -0.01 percent in September.

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
Oct-16
1.90% 1.59% 7.2% 1.26% 6.2%
Sep-17
1.86% 1.58% 7.0% 1.39% 3.8%
Oct-17
1.89% 1.57% 7.1% 1.32% 3.7%

Decreased growth rate for M3

The annual growth rate for the narrow monetary aggregate, M1, amounted to 9.2 percent in October, which is a decrease compared with September when it was 9.6 percent. M1 amounted to SEK 2 683 billion in October.

The growth rate for the broad monetary aggregate, M3, decreased from 9.3 percent in September to 8.4 percent in October. M3 amounted to SEK 3 249 billion in total in October.

Money supply, annual growth rate
Namnlös

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

2017-12-29 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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