Monthly news 30 June 2010
Loans
In May, households’ new drawdowns of housing loans amounted to EUR 1.8 billion, up by 17% on April and 24% on May 2009. The average interest rate on new housing-loan drawdowns fell to 1.87% in May from 1.88% in April. The stock of MFI housing loans to households grew by EUR 0.5 billion on April, to EUR 73.5 billion at end-May. The annual growth rate of the housing loan stock was unchanged at 6.5%. The average interest rate on the housing loan stock fell by 0.02 percentage point on April, to 1.92% at end-May.
New corporate loan agreements were made in May to a total value of EUR 6.6 billion, down by 6% on April and 1% on May 2009. The average interest rate on new corporate loan agreements fell by 0.03 percentage point, to 1.92% in May. The stock of euro-denominated corporate loans increased by EUR 0.5 billion, to EUR 56.2 billion at end-May. At year-on-year level, the corporate loan stock contracted by 0.5% in May, compared to a fall of 2.2% in April. The average interest rate on the corporate loan stock fell by 0.01 percentage point in May, to 2.23%.
Deposits
The stock of household deposits increased by EUR 0.6 billion on April, to EUR 75.6 billion at end-May. Households made EUR 2.0 billion worth of new fixed-term deposit agreements. The average interest rate on fixed-term deposits rose by 0.02 percentage point, to 1.63%. The average interest rate on the stock of household deposits was 0.81% at end-May.
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
| |
March,
EUR million |
April,
EUR million |
EUR million |
May,
12-month change1, % |
Average interest rate, % |
| Loans to households2, stock |
99.180 |
99.586 |
100.267 |
5.6 |
2.35 |
| - of which housing loans |
72.627 |
73.007 |
73.524 |
6.4 |
1.92 |
| Loans to non-financial corporations2, stock |
55.226 |
55.674 |
56.192 |
-0.5 |
2.23 |
| Deposits by households2, stock |
74.499 |
74.986 |
75.621 |
1.9 |
0.81 |
|
|
|
|
|
|
| Households' new drawdowns of housing loans |
1.478 |
1.494 |
1.753 |
– |
1.87 |
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