Monthly news 31 May 2010
Loans
In April, households' new drawdowns of housing loans amounted to EUR 1.5 billion, which is almost as much as in March this year and EUR 78 million more than a year ago in April. The average interest rate on new housing-loan drawdowns fell to 1.88% in April from 1.90% in March. The stock of MFI housing loans to households grew by EUR 0.4 billion on March, to EUR 73.0 billion at end-April. The annual growth rate of the housing loan stock slowed to 6.5%, from 6.6% in March. The average interest rate on the stock of housing loans declined by 0.02 percentage point on March, to 1.94% at end-April.
New corporate loan agreements were made in April to a total value of EUR 7.0 billion, which is EUR 0.3 billion more than in March but EUR 65 million less than a year ago in April. The average interest rate on new corporate loan agreements fell to 1.95%, from 2.15% in March. The stock of euro-denominated corporate loans increased by EUR 0.4 billion, to EUR 55.7 billion at end-April. At year-on-year level, the corporate loan stock contracted by 2.2% in April, compared to a fall of 2.5% in March. The average interest rate on the corporate loan stock was 2.24% at end-April and thus maintained the level observed at end-March.
Deposits
The stock of household deposits increased by EUR 0.5 billion on March, to EUR 75.0 billion at end-April. Households made EUR 2.1 billion worth of new fixed-term deposit agreements. The average interest rate on new fixed-term deposits was 1.61%. The average interest rate on the stock of household deposits was 0.80% at end-April.
Notes:
MFIs comprise all monetary financial institutions operating in Finland.
Loans and deposits comprise all euro-denominated loans and deposits vis-à-vis the euro area as a whole, with countries other than Finland accounting for a very small share of total volumes.
Key figures of Finnish MFIs' loans and deposits, preliminary data
| |
February,
EUR million |
March,
EUR million |
EUR million |
April,
12-month change1, % |
Average interest rate, % |
| Loans to households2, stock |
98.820 |
99.180 |
99.586 |
5.5 |
2.36 |
| - of which housing loans |
72.320 |
72.627 |
73.007 |
6.5 |
1.94 |
| Loans to non-financial corporations2, stock |
55.113 |
55.226 |
55.674 |
-2.2 |
2.24 |
| Deposits by households2, stock |
74.337 |
74.499 |
74.986 |
0.9 |
0.80 |
|
|
|
|
|
|
| Households' new drawdowns of housing loans |
1.240 |
1.478 |
1.494 |
– |
1.88 |
1 Rate of change has been calculated from monthly differences in levels adjusted for classification and other revaluation changes.
2 Households also include non-profit institutions serving households; non-financial corporations also include housing corporations.
- Euro-denominated deposits and loans of euro area residents: stock, 12 month rate of change and average interest rate
- Euro-denominated loans and deposits of Finnish households
- New business on loans and new drawdowns of household loans
- Finnish contribution to the euro area monetary aggregates and their main counterparts
- Analytical accounts of the banking sector (MFIs) in Finland
More information:
Elina Salminen, tel. +358 10 831 2343, email: elina.salminen(at)bof.fi
Olli Alanko, tel. +358 10 831 2456, email: olli.alanko(at)bof.fi
You can also subscribe to the monthly Loans, deposits and interest rates –newsletter to your email from the Bank of Finland website
http://www.bof.fi/en/julkaisut/sahkoisten_julkaisujen_tilaaminen/index.htm