Monthly news 30 July 2010
Loans
According to preliminary data, households’ new drawdowns of housing loans amounted to EUR 1.9 billion in June, which was EUR 0.1 billion more than in May and EUR 0.4 billion more than a year ago in June. The average interest rate on new housing loan drawdowns rose to 1.90% in June from 1.87% in May. The stock of MFI housing loans to households grew by EUR 0.7 billion from the May figure, to EUR 74.2 billion at end-June. The annual growth rate of the housing loan stock rose to 6.8%, from 6.4% in May. The average interest rate on the stock of housing loans remained unchanged from May, at 1.92%.
New corporate loan agreements were made in June to a total value of EUR 8.6 billion. The average interest rate on new corporate loan agreements rose to 2.05%, from 1.92% in May. The stock of euro-denominated corporate loans increased by EUR 0.7 billion, to EUR 56.9 billion at end-June. Year-on-year, the corporate loan stock grew by 1.3% in June, compared to a decrease of 0.5% in May. The average interest rate on the corporate loan stock increased by 0.03 percentage point from May, to 2.26%.
Deposits
At end-June, households' long-term savings agreements totalled nearly 3,600 and their long-term savings accounts amounted to EUR 2.0 million. The stock of household deposits increased by EUR 0.6 billion from May, to EUR 76.2 billion at end-June. The average interest rate on the stock of household deposits was 0.83% at end-June.
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
| |
April,
EUR million |
May,
EUR million |
EUR million |
June,
12-month change1, % |
Average interest rate, % |
| Loans to households2, stock |
99.586 |
100.267 |
101.165 |
5.7 |
2.33 |
| - of which housing loans |
73.007 |
73.524 |
74.200 |
6.8 |
1.92 |
| Loans to non-financial corporations2, stock |
55.674 |
56.192 |
56.911 |
1.3 |
2.26 |
| Deposits by households2, stock |
74.986 |
75.621 |
76.233 |
3.2 |
0.83 |
|
|
|
|
|
|
| Households' new drawdowns of housing loans |
1.494 |
1.753 |
1.889 |
– |
1.90 |
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
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