Financial Market Statistics, September 2017:
Growth rate for households' loans unchanged
Statistical news from Statistics Sweden 2017-10-26 9.30
In September, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 7.1 percent, which means that the growth rate was unchanged compared with August. Households’ loans from MFIs totalled SEK 3 740 billion in September. This is an increase of SEK 57 billion compared with the previous month and SEK 263 billion compared with the corresponding month last year.
In September, households’ housing loans amounted to SEK 3 057 billion, which is an increase of SEK 22 billion compared with the previous month and SEK 204 billion compared with the corresponding month last year. This means that the annual growth rate of housing loans was 7.3 percent in September, an increase of 0.1 percentage points compared with August.
Households’ loans for consumption had a growth rate of 8.3 percent in September. This is a decrease compared with August, when the growth rate was 8.4 percent. The growth rate for loans with other collateral was 5.5 percent in September, which means it increased by 0.2 percentage points compared with the previous month. In September, household consumption credits and loans with other collateral totalled SEK 203 billion and SEK 481 billion respectively.
Decreased credit growth for corporations
In September, the annual growth rate for loans to non-financial corporations was 3.8 percent, which can be compared with the previous month, when it was 4.1 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 September. Unsecured credit to enterprises amounted to SEK 365 billion, and loans to tenant-owner associations, which are considered non-financial corporations, amounted to SEK 448 billion.
Housing loan interest rate was unchanged in September
The average housing loan rate for households for new agreements was 1.58 percent in September, which is unchanged compared with August. The floating interest rate for housing loans decreased with 0.01 percentage points compared with August and amounted to 1.55 percent.
The average interest rate for new deposits by households in bank accounts was 0.07 percent in September, which means it remained unchanged compared with August. The interest rate on accounts with fixed periods or a limited number of free withdrawals was 0.10 percent in September, which means it also remained unchanged compared with August.
The average interest rate for loans for new agreements to corporations increased from 1.11 percent in August to 1.39 percent in September. The floating rate also increased compared with the previous month, and amounted to 1.47 percent in September. This can be compared with August, when the rate was 1.03 percent.
The average interest rate for new bank deposits to corporations amounted to 0.01 percent in September, which means it remained unchanged compared with August. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.01 percent in September, compared with -0.07 percent in August.
| 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 | |
|---|---|---|---|---|---|
|
Sep-16
|
1.86% | 1.60% | 7.5% | 1.32% | 7.1% |
|
Aug-17
|
1.92% | 1.58% | 7.1% | 1.11% | 4.1% |
|
Sep-17
|
1.86% | 1.58% | 7.1% | 1.39% | 3.8% |
Higher growth rate for M3
The annual growth rate for the narrow monetary aggregate, M1, amounted to 9.6 percent in September, which is a decrease compared with August, when it was 10.1 percent. M1 amounted to SEK 2 675 billion in September.
The growth rate for the broad monetary aggregate, M3, increased from 8.5 percent in August to 9.3 percent in September. M3 amounted to SEK 3 254 billion in total in September.
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
2017-11-27 at 09:30.
Statistical Database
More information is available in the Statistical Database
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