Financial Accounts second quarter 2026
Households' annual loan growth rate increases
Statistical news from Statistics Sweden 2026-09-17 8.00
In the second quarter of 2026, households' liquid savings amounted to SEK 129 billion, which was a decrease of SEK 15 billion compared with the corresponding quarter in 2025. During the same quarter, households' annual loan growth rate has continued to increase.
Households' savings in liquid assets amounted to SEK 185 billion in the second quarter of the year. At the same time, loans increased by SEK 56 billion, and thus households' liquid savings amounted to SEK 129 billion. Compared with the second quarter of 2025, there was a decrease of SEK 15 billion.
In the second quarter of 2026, Swedish households net purchased funds to a value of SEK 67 billion, which is an increase of SEK 24 billion compared with the corresponding quarter last year. Net purchases of listed shares amounted to SEK 8 billion, an increase of SEK 4 billion compared to the second quarter of 2025. At the same time, households made net deposits in bank accounts to a value of SEK 75 billion, which contributed to the positive liquid savings.
Households are saving more in funds
Households borrowed more in the second quarter
Swedish households' net borrowing, i.e. the sum of new loans minus amortisation, amounted to SEK 56 billion in the second quarter of 2026. This represents an increase of SEK 13 billion compared with the corresponding quarter last year. It is mainly secured loans that contribute to the increase, but unsecured loans are also increasing. The annual growth rate of households' total loans rose to 3.2 per cent during the quarter, which can be compared with 3.0 per cent in the previous quarter.
- The last time households net borrowing was higher in a single quarter was in the second quarter of 2022. The increase coincided with the raising of the loan-to-value cap at the beginning of the second quarter of the year, but it is difficult to determine to what extent the rule change contributed to the increased borrowing, says Emil Jansson, economist at Statistics Sweden.
The households’ loan growth rate continues to increase
Financing of non-financial corporations
In the second quarter of 2026, non-financial corporations financed themselves with net borrowing, i.e. new loans minus amortisation, with monetary financial institutions to a value of SEK 75 billion. In the corresponding quarter last year, net borrowing was SEK 50 billion.
Financing through debt securites, new issues minus maturities and repurchases, amounted to SEK 37 billion in the second quarter of 2026. Financing in the corresponding quarter of 2025 was at a similar level.
Total loans from monetary financial institutions amounted to SEK 2,992 billion at the end of the quarter. The value of issued debt securities amounted to SEK 1,527 billion.
Non-financial corporations are increasing their financing through debt securities and loans
Revisions
In the publication of the financial accounts for the second quarter of 2026, revisions have been made back to 1995 in order to improve the statistics where new data have become available. The revisions affect both the time series for the year and quarter.
Households' transactions in unlisted shares with non-financial corporations have been revised back to the first quarter of 2021 due to a review of the calculation model.
Households' transactions with insurance companies and pension funds for pension rights have been revised back to 2022 as a result of updated annual sources.
The value of unlisted shares has been revised back to 2024 as a result of updated annual sources. This affects non-financial corporations' liabilities to all sectors.
The Central bank has been revised back to 1995 due to a review of the calculation model.
The central government has been revised from year 2006 onwards. The revision primarily concerns the change in the time of recording of capital injection to international organizations, which has been implemented to align with the updated manual on MGDD, Manual on Government Deficit and Debt.
Municipalities and regions have revised 2025 due to updated annual source. Long-term loans have also been updated from 1996, when new contracts for financial leasing have been introduced.
Social security funds have revised the values for pension rights between 2014-2025, when voluntary pension insurance has been included on the liability side of the Swedish Pensions Agency.
Definitions and explanations
In the statistical news, reference is made to the liquid savings of households. It is calculated as the difference between transactions in liquid assets and liabilities in order to reflect households' financial decisions in the short term. The liquid assets are financial assets excluding accruals (tax accruals, occupational pensions and other actuarial provisions), while liabilities consist of loans and trade credits. See the Financial Accounts Quality Declaration, section variables 1.2.2, for more information.
The aim of financial accounts is to provide information on financial assets and liabilities as well as changes in financial savings and financial wealth for different sectors of society. The statistics are presented in current prices and do not take inflation into account.
The financial savings in financial accounts is calculated as the difference between transactions in financial assets and liabilities. In the Real Sector Accounts, which, like the Financial Accounts, are part of the National Accounts, financial savings are calculated as the difference between income and expenses. However, financial accounts and real sector accounts are based on different sources, which gives rise to differences between these two products.
In the Financial Accounts, the government debt is calculated differently from the government debt metric that is most frequently reported and which is calculated according to the convergence criteria – the ‘Maastricht debt’. The definition of the Maastricht debt does not include all financial instruments, the instruments are presented in nominal value and the liabilities for government administration are consolidated. The government debt in the Financial Accounts is unconsolidated and includes all financial instruments at market value.
In addition to the government agencies, the government administration sector also includes certain state foundations and state-owned companies. Government administration does not include entities within the retirement pension system. Instead, they make up the social security funds sector. Municipal administration includes primary municipal authorities, regional authorities (formerly county council authorities), municipal associations and certain municipal foundations and certain municipally or regionally owned companies.
More information: National wealth
The National Wealth, which contains annual data on non-financial and financial assets, is also published in connection with the publication of the Financial Accounts. Financial assets and liabilities are collected from the Financial Accounts and are thus consistent with the values published in the Financial Accounts.
For further information, see:
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Comments
Liquid savings are calculated as the difference between transactions in financial assets and liabilities excluding accruals (tax accruals, occupational pensions and other insurance technical reserves).
The category ‘Other liquid assets’ consists of the balance‑sheet items currency, deposits other than bank deposits, debt securities, unlisted shares, other equity, life insurance and annuity entitlements, financial derivatives, and trade credits and advances.