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Financial market statistics, September 2018

Lower growth rate in September on households’ loans

Statistical news from Statistics Sweden 2018-10-25 9.30

In September 2018, the annual growth rate of households’ loans from monetary financial institutions (MFIs) was 5.9 percent, which means that the growth rate decreased by 0.2 percentage points compared with August.

Households’ loans from MFIs amounted to SEK 3 963 billion in total in September. This is an increase of SEK 20 billion compared with the previous month and SEK 212 billion compared with the corresponding month in the previous year.

Housing loans accounted for 82 percent of MFIs’ total lending to households and amounted to SEK 3 244 billion in September. This is an increase of SEK 14 billion compared with the previous month and SEK 181 billion compared with the corresponding month in the previous year. The annual growth rate of housing loans was 6.0 percent in September, a decrease of 0.3 percentage points compared with August.

The growth rate of households’ loans for consumption was 7.6 percent in September, which is an increase of 0.6 percentage points compared with August, when it was 7.0 percent. The growth rate of loans with other collateral was 4.2 percent in September, a decrease of 0.6 percentage points compared with August. In September, household consumption credits and loans with other collateral totalled SEK 222 billion and SEK 497 billion, respectively.

Growth rate, lending to households and non-financial corporations

Namnlös

Growth rate of loans to corporations decreased

In September, the annual growth rate on loans to non-financial corporations was 7.0 percent, a decrease of 0.2 percentage points compared with August. Lending by MFIs to non-financial corporations totalled SEK 2 298 billion in September.

Multi-dwelling buildings is the most common form of collateral for lending to non-financial corporations and amounted to SEK 756 billion in September. Unsecured credit to enterprises amounted to SEK 412 billion and loans to tenant-owner associations, which are considered to be non-financial corporations, amounted to SEK 479 billion.

Housing loan rate increased

Households’ average housing loan rate on new agreements was 1.49 percent in September, an increase of 0.03 percentage points compared with August. The floating interest rate on housing loans was 1.45 percent, which is an increase of 0.01 percentage points.

In September, households’ average interest rate on new deposits in bank accounts was 0.07 percent, unchanged from August. The interest rate on accounts with fixed periods or a limited number of free withdrawals amounted to 0.13 percent in September, also unchanged from August.

The average interest rate on loans for new agreements to non-financial corporations decreased from 1.33 percent in August to 1.25 percent in September. The floating rate increased by 0.03 percentage points compared with the previous month and amounted to 1.30 percent in September.

Non-financial corporations’ average interest rate on new deposits in bank accounts amounted to 0.00 percent in September, a decrease of 0.01 percentage point compared with August. The interest rate on accounts with fixed periods or a limited number of free withdrawals was -0.14 percent in September, compared with -0.16 percent in August.

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
September-17
1.87% 1.58% 7.0% 1.39% 3.8%
August-18
1.88% 1.46% 6.1% 1.33% 7.2%
September-18
1.81% 1.49% 5.9% 1.25% 7.0%

M3 growth rate unchanged

The annual growth rate of the narrow monetary aggregate, M1, amounted to 7.1 percent in September, an increase of 0.8 percentage points compared with August. M1 amounted to SEK 2 866 billion in September.

The growth rate of the broad monetary aggregate, M3, amounted to 4.5 percent in September, unchanged compared with August. M3 amounted to SEK 3 402 billion in total in September.

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

2018-11-27 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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