In March, new housing loans to a value of just under EUR 1.1 billion were drawn down in Finland, compared with almost EUR 1.6 billion a year earlier. The decline in new housing loan drawdowns observed already at the start of the year was further fed by the introduction of a higher rate of asset transfer tax in March. In addition, the imputed interest margin on housing loans broadened to 1.54% in March from the February figure of 1.48%.
The stock of household deposits at the end of March was EUR 82 billion. The average rate of interest was 0.61%. Of the total stock, overnight deposits accounted for EUR 49 billion, and fixed term deposits for EUR 18 billion. Households concluded new fixed-term deposit contracts in March in the amount of EUR 1.1 billion. The average interest on the new contracts rose slightly, from 1.12% in February to 1.14% in March.
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
12-month change1, %
Average interest rate, %
|Loans to households2, stock||114,718||114,835||115,057||4.2||1.92|
|- of which housing loans||86,364||86,535||86,709||5.1||1.53|
|Loans to non-financial corporations2, stock||63,370||63,973||64,010||3.7||1.90|
|Deposits by households2, stock||81,859||81,701||82,274||
|Households' new drawdowns of housing loans||1,108||1,282||1,090||–||2.03|
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
For further information, please contact:
Essi Tamminen, tel. +358 10 831 2395, email: essi.tamminen(at)bof.fi
Jaakko Suni, tel. +358 10 831 2454, email: jaakko.suni(at)bof.fi
The next news release will be published at 1 pm on 31 May 2013.
Related statistical data and graphs are also available on the Bank of Finland website: