Financial market statistics, October 2018
Lower growth rate in October on households’ loans
Statistical news from Statistics Sweden 2018-11-27 9.30
In October 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 5.8 percent, which means that the growth rate decreased by 0.1 percentage point compared with September.
Households’ loans from MFIs amounted to SEK 3 977 billion in total in October. This is an increase of SEK 15 billion compared with the previous month and SEK 209 billion compared with the corresponding month last year.
Housing loans made up 82 percent of MFIs’ total lending to households and amounted to SEK 3 258 billion in October. This is an increase of SEK 14 billion compared with the previous month and SEK 178 billion compared with the corresponding month last year. The annual growth rate of housing loans was 5.9 percent in October, a decrease of 0.1 percentage point compared with September.
The growth rate of households’ loans for consumption was 8.1 percent in October, which is an increase of 0.6 percentage points compared with September, when it was 7.5 percent (revised). The growth rate of loans with other collateral was 4.1 percent in October, a decrease of 0.1 percentage points compared with September. In October, household consumption credits and loans with other collateral totalled SEK 222 billion and SEK 498 billion respectively.
Growth rate of loans to corporations increased
In October, the annual growth rate on loans to non-financial corporations was 7.7 percent, which is an increase of 0.6 percentage points compared with 7.1 percent in September (revised). Lending by MFIs to non-financial corporations totalled SEK 2 305 billion in October.
Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 758 billion in October. Unsecured credit to enterprises amounted to SEK 410 billion and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 480 billion.
Housing loan rate declined
Households’ average housing loan rate on new agreements was 1.47 percent in October, a decrease of 0.02 percentage points compared with September. The floating interest rate on housing loans declined by 0.02 percentage points compared with September, and amounted to 1.43 percent in October.
The average interest rate for new deposits by households in bank accounts was 0.07 percent in October, unchanged from September. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.13 percent in October, also unchanged from September.
The average interest rate on loans for new agreements to non-financial corporations decreased from 1.25 percent in September to 1.22 percent in October. The floating rate fell by 0.12 percentage points from the previous month and amounted to 1.18 percent in October.
Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.00 percent in October, unchanged from September. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to -0.14 percent in October, also unchanged from September.
| 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 | |
|---|---|---|---|---|---|
|
October-17
|
1.89% | 1.57% | 7.1% | 1.32% | 3.3% |
|
September-18
|
1.81% | 1.49% | 5.9% | 1.25% | 7.1% |
|
October-18
|
1.85% | 1.47% | 5.8% | 1.22% | 7.7% |
M3 growth rate unchanged
The annual growth rate of the narrow monetary aggregate, M1, amounted to 6.4 percent in October, a decrease of 0.7 percentage points compared with September. M1 amounted to SEK 2 857 billion in October.
The growth rate of the broad monetary aggregate, M3, amounted to 4.5 percent in October, unchanged from September. M3 amounted to SEK 3 399 billion in total in October.
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
2019-01-03 at 09:30.
Statistical Database
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