– The decrease is primarily due to decreased borrowing in debt securities denominated in foreign currencies, with monetary financial institutions accounting for the largest decrease, says Rasmus Löfström, economist at Statistics Sweden.

Developments in July 2025 in brief

Increased liabilities in bonds and decreased liabilities in money market instruments

• At the end of July, total liabilities in debt securities amounted to SEK 9 481 billion, of which bonds accounted for 80 percent and money market instruments accounted for 20 percent.
• During the month, liabilities increased in bonds by SEK 16 billion and decreased in money market instruments by SEK 31 billion.
• The liabilities denominated in Swedish Crowns increased by a total of SEK 13 billion while it decreased by SEK 31 billion in liabilities denominated in foreign currencies.
• The annual growth rate for total debt securities liabilities was -2,6 percent in July, a decrease by 1.5 percentage points from June.

Decreased borrowing by monetary financial institutions

• In July, monetary financial institutions accounted for the largest decrease in debt securities, and decreased their liabilities by SEK 34 billion. Also Sveriges Riksbank decreased their liabilities by SEK 12 billion.
• Both non-financial corporations as well as the government (through Swedish National Debt Office) increased their liabilities by SEK 17 billion and SEK 14 billion respective.

Green debt securities

• Green debt securities amounted to SEK 964 billion in July, up by SEK 8 billion from July.
• Non-financial corporations accounted for the entire increase in green debt securities during the month.
• Monetary financial institutions are still the largest issuer of green debt securites, in total SEK 429 billion. However, local government issue the largest share of green debt securities in relation to their total outstanding amount (37 percent).

2025-09-16 at 8:00.