Housing loansLoans

Households’ new drawdowns of housing loans in December 2011 amounted to EUR 1.5 bn, which is EUR 0.2 bn less than in November and EUR 0.1 more than in December 2010. The average interest rate on new housing-loan drawdowns declined by 0.03 percentage point, to 2.58%. The stock of euro-denominated MFI loans to households increased EUR 0.4 bn in December, to EUR 81.8 bn at month-end. The average interest rate on the housing loan stock was unchanged at 2.51%. The annual growth rate of the housing loan stock rose to 6.6% in December, from 6.4% in November.

New loan agreements with non-financial corporations amounted to EUR 7.3 bn in December, which is EUR 0.7 bn more than in November. The average interest rate on new loan agreements was almost unchanged at 2.67%. The stock of euro-denominated loans to non-financial corporations decreased EUR 0.1 bn in December, to EUR 60.4 bn at month-end. The average interest rate on the stock was 2.84%. The annual growth rate of the stock increased to 7.2%, from 6.5% in November.



The stock of household deposits increased by EUR 2.0 bn in December. The stocks of overnight deposits and other deposits increased respectively by EUR 0.9 bn and EUR 1.1 bn. At end-December 2011 the total stock of household deposits amounted to EUR 82.6 bn and carried an average interest rate of 1.05%. New new agreements on deposits with agreed maturity totalled EUR 3.1 bn, and the average interest rate on these was 2.03%.

In the fourth quarter of 2011 households concluded 2,753 new long-term savings contracts. At year-end the total number of long-term savings contracts was 18,644. In October-December households deposited EUR 3.5 m in long-term savings accounts. During the whole year EUR 12 m was added to long-term savings accounts, which totalled EUR 23.9 m at year-end.

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

EUR million
EUR million

EUR million
12-month change1, %


Average interest rate, %
Loans to households2, stock 108.922 109.242 109.551 5.2 2.88
    - of which housing loans 80.949 81.369 81.781 6.6 2.51
Loans to non-financial corporations2, stock 60.195 60.434 60.361 7.2 2.84
Deposits by households2, stock 80.933 80.650 82.612


Households' new drawdowns of housing loans 1.781 1.686 1.529 2.58

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.

More information:

Hanna Häkkinen, tel. +358 10 831 2552, email: hanna.hakkinen(at)bof.fi
Jussi Pajunen, tel. +358 10 831 2343, email: jussi.pajunen(at)bof.fi

The next news release will be published at 1 pm on 29 February 2012.

You can also subscribe to the monthly Loans, deposits and interest rates –newsletter to your email from the Bank of Finland website