Since about half of the total Swedish liability in debt securities is issued in foreign currency, the exchange rate effect can have a large impact on the total liability in debt securities. The net value of debt securities denominated in euros and US dollars decreased by SEK 20 billion and SEK 9 billion, respectively, in April 2019. Despite this, the value of the debt stock denominated in euros and US dollars increased by SEK 20 billion and SEK 17 billion respectively, due to the exchange rate effect. The debt stock denominated in British pounds increased by SEK 12 billion, to which exchange rate effects contributed SEK 4 billion.

In the non-financial and other financial sector, the total debt stock increased primarily for debt securities denominated in euros valued at SEK 25 billion, despite net issues valued at SEK 9 billion in April 2019. The weakened Swedish krona exchange rate also contributed to an increase in the value of the total borrowing stock for the bank sector denominated in euros and US dollars by an additional SEK 13 billion and SEK 12 billion, respectively, compared with the net value. In the housing sector, the total debt stock for debt securities denominated in euros decreased by SEK 4 billion, mainly due to net maturity valued at SEK 13 billion, in which the exchange rate effect has counteracted the decrease. In other monetary financial institutions, primarily debt securities denominated in US dollars valued at SEK 8 billion were affected by the exchange rate effects.

The total debt stock for debt securities denominated in Swedish kronor was unchanged compared with March 2019, because the changes in short-term and long-term securities netted each other out. The decrease in short-term securities is mainly due to a decrease of SEK 57 billion in Riksbank certificates. The increase in long-term securities is largely accounted for by the bank and housing sector.

Structure of maturity

Debt securities valued at SEK 1 006 billion will reach maturity in the next three months. The maturity value in debt securities denominated in Swedish kronor and foreign currency is SEK 643 billion and SEK 363 billion respectively.

The maturity value is primarily comprised of money market instruments denominated in Swedish kronor and foreign currency valued at SEK 499 billion and SEK 272 billion respectively. Bonds denominated in Swedish kronor and foreign currency have a maturity value of SEK 144 billion and SEK 92 billion respectively.

2019-06-19 at 9:30.