In April−June 2010, households’ financial assets1 declined by EUR 0.9 billion. However, at EUR 162.0 billion, households’ financial assets at the end of June 2010 were EUR 14.9 or 10.1% higher than at the end of the second quarter of 2009.
Households’ net investment in financial assets totalled EUR 2.6 billion in the second quarter of 2010. Of this, EUR 1.9 billion was accounted for by bank deposits, which continue to be households' most significant form of financial asset. The stock of deposits at the end of June totalled EUR 72.9 billion, representing 45% of households' financial assets. In April−June, households’ investment in investment fund shares, listed shares and unit-linked life and pension insurances amounted to EUR 0.7 billion. However, unfavourable price developments reduced the value of these investments by EUR 3.6 billion.
In April−June, households’ loan-based liabilities rose by EUR 2.0 billion, the outstanding stock of loans totalling EUR 101.4 billion at the end of June. Due to the decline in financial assets and the rise in loan-based liabilities, households’ net financial assets fell in the second quarter of 2010. In June 2010, net financial assets totalled EUR 60.6 billion, which was nevertheless EUR 9.1 billion (17.7 %) more than a year earlier.
Corporate loan-based liabilities increased by EUR 2.1 billion in the second quarter of 2010. The stock of loans at the end of June, excluding domestic intercompany loans, was EUR 93.5 billion. All in all, in April−June 2010, corporate loan-based financing (loans and debt certificates) rose by EUR 2.2 billion.
The value of listed shares issued by domestic companies fell by EUR 20.6 million in April−June 2010, totalling EUR 114.3 billion at the end of June.
The above information is from the quarterly financial-account statistics compiled by the Bank of Finland. These provide an overview of the stocks of financial assets and liabilities of the different sectors of the national economy and of the related transaction flows.
1) Data excludes unquoted shares and other equity, and other accounts receivable. Shares in housing corporations are also excluded from financial assets.
More information:
Hanna Häkkinen, tel. +358 10 831 2552, email: firstname.surname@bof.fi
At the end of 2010, compilation of quarterly Finnish financial accounts statistics will be transferred from the Bank of Finland to Statistics Finland. Statistics Finland will begin to publish this data with effect from January 2011, when data for the third quarter of 2010 will be available