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Notes on Financial Market Statistics

Part 4, Growth rates 

2019

October: The growth rate of loans to households for consumption, which also affects the growth rate of households’ total loans, is revised back to December 2018 due to new and updated information from MFIs.

2020

January: The growth rate of lending to households in table 4.1.1 contains lending from MFIs, mortgage credit companies and alternative investment funds (AIFs)  as of January 2019. 

The growth rate representing MFIs only is still reported. There is also a separate reporting for mortgage credit companies and AIFs with lending to households.  

A corresponding change has been made in  table 4.1.2 (Growth indices for ledning and money supply). 

2021

June

A reporting institution reclassified deposits from deposits with certain conditions to on-demand deposits. This means that the growth rate of the money supply M1 has been revised back to May 2019.

Part 5, Money supply

2003

December: In December 2003 a reporting institution reclassified parts of deposits. Deposits with certain conditions were transferred to on-demand deposits.

2009

April: As of and from April 2009 onward monetary investment funds (money market funds), are included in the MFI reference sector. Due to this the historical money supply figures have been slightly revised.   

November: In November 2009 a reporting institution reclassified parts of deposits. Deposits with certain conditions were transferred to on-demand deposits. 

2010

November: A number of accounts with restricted number of free withdrawals have previously been classified as on-demand deposits. They are reclassified to deposits with certain conditions. This affects M1 which decreases with SEK 50 - 150 billion for the period December 2003-October 2010.

November: A change in conditions has resulted in a reclassification from deposits with certain conditions to ondemand deposits.

2012

April:  Revised figures from January 2012 until March 2012 due to change in definition in money market funds. As a consequence Swedish non-bank public holdings in money market shares are reduced with approximately SEK 72 billion. 

2013

November: In 2012, ECB decided that repurchase agreements with central counterparties (CCP) should be excluded from M3. In Sweden, clearing with central counterparties started in September 2010.

2014

November: From November 2014 the treatment of maturity for issued debt securities issued within a program has been modified, from a treatment where several single issued securities (within a program) are able to have different maturities, to have the same maturity length as the overall program. This improves the matching between the issued debt securities and the holding of debt securities. Due to that the Swedish non-bank public holding of debt securities is calculated as a residual (see 5. Money Supply) the change leads to an increase of the holding with approximately SEK 25 billion. The annual growth rate for M3 (see 4.1.2, table 2) is adjusted for the break in the series.

2019

September: A swedish monetary investment fund (money market fund) was reclassified to an investment fund and is no longer included in the population.

2021

June

A reporting institution reclassified deposits from deposits with certain conditions to on-demand deposits back to May 2019.

Part 6 and 7, Balance sheets and balance sheet items

Footnotes to the publication Financial Market Statistics, which is available on www.scb.se/FM5001.

a) For the period 1975-1995 there is a residual because some of the lending and deposits where reported undistributed during this period, see 6. Balance sheets. The residual has been distributed to Swedish non-MFI but has not been distributed into any subsector.

b) For housing credit institutions separate information regarding Shares and other equities are missing between 1996-97. Shares and other equities were reported as Other assets during the period.

c) In 1998 the currency was divided into Swedish kronor, Other EU-currencies and Other foreign currencies. From 1999 Other

EU-currencies stands for ”EU-currencies other than SEK and ’Euro and EMU-currencies”. This causes a break in the time series with a decrease from 1999.

d) There is a break in the time series for housing credit institutions between December 1995 and January 1996. The reason for the break is because of two institutions, who earlier where merged, is calculated separately from January 1996.

e) Finance companies’ balance sheet for the period 1975-1979 contains the group funding companies (Sw. Finansieringsföretag) where the population who later became Finance companies represents approximately 95 percent.

f) The Association banks (Sw. Föreningsbanker) are included in the group Banking companies until October 1997.

1) The column "Valuation difference" in table 3 (7.17.1, 7.17.2 and 7.17.3) intends the difference between Table 3 and Table 2. Table 2 contains book value and table 3 contains fair value. Except the difference between book value and fair value, the valuation difference can be due to other effects, for example the difference in currency exchange rates. Different data sources are used for the tables. Table 2 is based on collected information from MFIs whereas data from Statistic Sweden’s Securities statistics is used in table 3. Other possible “valuation differences” are:

  • Exchange rate differences that occur if different exchange rates are used for foreign debt securities.  
  • Delimitation problems between loans and foreign debt securities, for example in private-placements, or between derivatives and foreign debt securities. 

2) The column "Valuation difference" in table 1 (7.17.1, 7.17.2 and 7.17.3) refers to the difference between Certificates + Bonds and Total. Certificates and Bonds uses fair value, while Total uses book value. The reason is that different data sources are used. Certificates and Bonds are based on data from Statistics Swedens’ survey Värdepappersinnehav (VINN), while the Total is based on data from Statistics Sweden’s survey Balansstatistik för monetära finansinstitut (MFI). Other possible “valuation differences” are exchange rate differences that occur if different exchange rates are used for foreign debt securities.  

2003

December: In December 2003 a reclassification occurred in the housing credit institution sector; SEK 3 billion was transferred from Other households to Entrepreneur households.

2004

December: In December 2004 the reporting quality of bank´s lending divided on different collaterals was improved. Previously a larger amount of loans was reported as Other collateral and Unsecured credits.

2006

March: Bank branches outside Sweden's lending increased by SEK 2.6 billion due to transmission of credit stocks from the finance companies sector.

December: In December 2006 housing credit institutions lending single-family dwellings as collateral increased by SEK 6 billion due to that a Special Purpose Vehicles securitization fell due. 

2007

April: In April 2007 a reclassification occurred in the housing credit institution sector; SEK 11 billion was transferred from Other households to Entrepreneurial households.

April: In April 2007 one Finance company closed down. Due to this, total assets decreased by SEK 9 billion and operational leasing decreased by SEK 6 billion.

May: In May 2007 housing credit institutions lending with multidwelling buildings as collateral increased by SEK 7 billion due to that a Special Purpose Vehicles securitisation fell due.

October: In October 2007 a housing credit institution and a finance company merged with a bank. The housing credit institution's total assets amounted to SEK 245 billion and the assets of the Finance company amounted to SEK 36 billion. As of the merger, lending to non-financial corporations increased by SEK 42 billion in the banking sector, SEK 28 billion from the housing credit institutions sector and SEK 14 billion from the finance companies sector. The banking sector's lending to households increased by SEK 199 billion, of which SEK 198 billion from the housing credit institutions sector.

December: In December 2007 a finance company was transformed into a banking company. Due to this the banking sector's lending to households increased by SEK 1.6 billion.

2008

August: In August 2008 a Swedish bank branch outside Sweden transferred loans (SEK 48 billion) to a housing credit institution's branch outside Sweden.

September: In September 2008 a finance company and a monetary securities company was transformed into banking companies. Due to this the banking sector's lending to households increased by SEK 8.6 billion and the lending to nonfinancial corporations increased by SEK 5.4 billion.

October: In October 2008 one Other MFI closed down. Its loans were transferred to the housing credit institution sector. Due to this the housing credit institution sector's lending to households increased by SEK 37 billion, of which Entrepreneurial households increased by SEK 31 billion.

2009

April: From April 2009 and onward, monetary investment funds (money market funds), are included in the MFI reference sector. Data have been added in the tables as of and from March 2005 onward. 

April: In April 2009 one foreign bank branch closed down. Due to this the banking sector's lending to non-financial corporations decreased by SEK 11 billion.

November: In November 2009 a foreign bank branch in Sweden transferred loans (SEK 10 billion) to a foreign MFI. Due to this lending to non-financial corporations decreased by SEK 5 billion and lending to the public sector also decreased by SEK 5 billion.

2010

September: The counterpart name Other financial intermediaries and finance auxiliaries have changed to Financial corporate sector, not MFI.

September: The time period January 1996-February 2003 have been revised due to an update of the included reporting institutions.

November: In November 2010 a housing credit institution was transformed into a banking company. Due to this the banking sector's lending to households increased by SEK 16 billion and the lending to non-financial corporations increased by SEK 20 billion.

November: In November 2010 a savings bank and a banking company merged into a single banking company. Due to this lending to households amounting to SEK 10 billion is transferred between the sectors.

December: The banks have sold loan portfolios containing unsecured credits to households amounting to SEK 3 billion. 

2011

March: Loans to households amounting to SEK 6 billion have been sold from a foreign bank branch to a banking company.

August: Loans to foreign non-MFIs amounting to SEK 27 billion have been sold from a banking company to a housing credit institution.

September: In September finance companies reclassified operational leasing to financial leasing by SEK 6 billion. Due to this lending to Swedish non-financial corporations increased by SEK 2.7 billion.

2012

February: In February 2012 a finance company was transformed into a banking company.

March: In March 2012 a finance company merged with a bank. A bank bought loans from a housing credit institution amounting to SEK 9 billion.

April: Revised figures from February 2012 until March 2012 due to change in definition in money market funds. As a consequence of this Other MFIs' issued shares in money market funds is decreased with approximately SEK 76 billion. Other MFIs' holdnings in securities other than shares is reduced with approximately SEK 74 billion. The change in definition is due to harmonizing according to European standards which decreases the number of money markets funds.

October: A foreign bank branch in Sweden has transferred loans (SEK 4 billion) to an abroad Financial Vehicle Corporation (FVC).

November: In November 2012 an ”Other MFI” was transformed into a banking company. 

2014 

November: In November 2014 three finance companies were merged with a bank. Due to this, lending to non-financial corporation and households, SEK 23 billion respectively SEK 8 billion, have moved from the finance companies sector to the bank sector. The leasing decreased in the finance companies sector with SEK 12 billion and the bank sector increased with corresponding value. 

2015

May: A financial company was transformed into a banking company.

September: In September 2015 a reclassification occurred in the banking company sector; SEK 24 billion was transferred from non-financial corporations to Entrepreneur households.

2016

October: In October 2016 a Finance company was transformed into a banking company.

2017

January: In January 2017 three foreign subsidiaries was transformed to branches, which increased the total assets for banks and MFIs.

June: In June 2017 a finance company was transformed into a banking company. In June 2017 one finance company also closed down. Due to this, total assets decreased by SEK 43 billion.

August: In August 2017 a housing credit institution was added to the population.

December: In December 2017 foreign branches to a Swedish finance company was added to the population which increased total assets for finance companies and MFI:s by SEK 13 billion.

2018

January: In January 2018 one finance company closed down. Due to this, total assets decreased by SEK 17 billion.

October: In October 2018 a banking company ceased to exist and a foreign bank branch in Sweden was added to the population.

November: In November 2018 a finance company ceased to exist.

December: In December 2018 a Swedish banks branch was transformed to subsidiary.

2019

March: Two finance companies with affiliated branches were merged with a bank.                               

A Swedish monetary investment fund (money market fund) was reclassified to an investment fund and is no longer included in the population.

July: A Savings bank was transformed into a banking company

September: Monetary Financial Institutes’ securities are mainly based on data from Statistics Sweden’s survey

Värdepappersinnehav (VINN) instead of Statistics Sweden’s survey Balansstatistik för monetära finansinstitut (MFI). Tables affected by this in the publication “Financial Market Statistics, MM YY” contain red marks.

2020

January: Lending to households in table 7.1.1 contains information for MFIs, mortgage credit companies and AIFs as of January 2018. 

MFI’s lending is still reported separately in table 7.1.2. Lending of mortgage credit companies and AIFs to households is reported separately in table 7.1.3.

Because of these changes, lending by banks is now available in table 7.1.4, housing credit institutions in table 7.1.5, finance companies in table 7.1.6 and other MFIs lending in table 7.1.7. There are no changes concerning the content in these tables. 

Tab 7.3  is now reporting lending from mortgage credit companies and AIFs to households and broken down by security in table 7.3.1.

Observe that lending from mortgage credit companies and AIFs in the period January to November 2018 is based on calculations from the Riksbank. 

July: A significant revision regarding collateral for lending to nonfinancial corporations was made for the period 2017-2018.

October: In October 2020 a foreign branch to a Swedish finance company was added to the population which increased total assets for finance companies and MFI:s by SEK 2.5 billion.

Part 8, Interest rates  

Footnotes to the publication Financial Market Statistics, which is available on www.scb.se/FM5001.

a) In the category "All accounts" concerning loans over night, genuine sale and repurchase transactions (repos), transactions accounts, equity release mortgages and loans "with condition" are included. The deposits cover over night, genuine sale and repurchase transactions (repos), On demand-deposits, deposits "with condition" and also pension savings (IPS). So-called nonperforming loans are not included. For a description of overnight loans, repos, on demand-deposits, pension savings (IPS), deposits with agreed maturity and deposit redeemable at notice, see Glossary. 

b) In the category "Rate fixation" the loans that are not overnight, genuine sale and repurchase transactions (repos), transactions accounts or equity release mortgages are included. The category "with condition" covers deposits with agreed maturity and deposits redeemable at notice.

c) From September 2005 the household sector also includes entrepreneurial households and non-profit institutions serving households. Before September 2005 non-profit institutions serving households are not included.

d) New agreements on lending with rate fixation over 5 years, often contains relatively small amounts which leads these series to fluctuate in a greater extend then other rate fixation periods.

2007

October: In October 2007 a housing credit institution and a finance company merged with a bank. The housing credit institution's total assets amounted to SEK 245 billion and the assets of the Finance company were SEK 36 billion. As of the merger, lending to non-financial corporations increased by SEK 42 billion in the banking sector, SEK 28 billion from the housing credit institutions sector and SEK 14 billion from the finance companies sector. The banking sector's lending to households increased by SEK 199 billion, of which SEK 198 billion from the housing credit institutions sector. 

2009

December: The figures for transaction accounts and Consumer credits have been revised for the period September - November 2009.

2010

April: The reporting sample of institutions has been increased.

Due to that a couple of series have been revised from September 2009 and onward. The series with large changes are marked in yellow.

September: The rates to Swedish non-bank public are replaced by the average of rates to Swedish non-financial corporations and households incl. NPISH. Transaction account rates are now presented excluding fees. This leads to revisions in the columns transaction accounts and all loans as of and from December 1993 onwards. Before that fees for transaction accounts are included.   

September: One bank with generally high interest rates transferred large amounts to transaction accounts which increase the total average.

2012

November: A reclassification of accounts increases the household on-demand deposits and decreases the deposits with certain conditions, which has affected the deposit rate.

2017

August: In August 2017 a housing credit institution was added to the population.

2019

August: The sample of institutions reporting MIR has increased to better cover consumption loans, causing published interest rates to increase for some series. Due to the change in the sample several series have been revised from April 2019 and onward. For credit card credits and other revolving loans the whole outstanding volume is defined as new agreements, which means that the higher interest rates also impact all new agreements, even though credit card credits and other revolving loans only account for 2 percent of households’ loans in total.

2020

January: Interest rates ofMFIs, mortgage credit companies and AIFs are reported together in table 8.1.1 and 8.2.1 as of January 2019. 

Interest rates of MFIs are reported separetaly in table 8.1.2 and 8.2.2.. Interest rates of mortgage credit companies and AIFs are reported in table 8.1.3.

July: Some interest rates have been adjusted in the period 20172018 due to a significant revision regarding collateral for lending to non-financial corporations.

September: Revisions regarding deposit rates with condition to households were made for the period June-August 2020.