New drawdowns of housing loans 2005-2009Loans

In November, households drew down new housing loans in the amount of EUR 1.7 billion, which was nearly the same as in October and EUR 300 million more than in November 2009. The average interest rate on new housing loan drawdowns in November rose by 0.04 percentage point to 2.21%. Of the amount of drawdowns in November, 87% was tied to Euribor rates and 9% to a fixed interest rate. Since last summer, the share of fixed rate loans has increased by a few percentage points relative to loans tied to Euribor rates. The stock of euro-denominated MFI housing loans to households grew by EUR 350 million, to EUR 76.4 billion at the end of November. Thus, the annual growth rate of the stock of housing loans remained virtually unchanged at 6.8%. The average interest rate on the stock of housing loans increased by 0.02 percentage point to 2.03%.

In November, new corporate loan agreements were made in the amount of EUR 7.1 billion. The average interest rate on the new agreements rose by 0.06 percentage point to 2.25%. The stock of euro-denominated corporate loans remained virtually unchanged, totalling EUR 57.0 billion at the end of November. The annual growth rate of the corporate loan stock rose to 5.4% in November, from 4.9% in October. The average interest rate on the corporate loan stock increased by 0.03 percentage point to 2.44%.


In November, household deposits decreased by approximately EUR 0.7 billion as a result of a reduction in the amount of deposits on transaction accounts. Household deposits totalled EUR 76,0 billion at the end of November, and the corresponding average interest rate rose to 0.86%. In November, households made new fixed-term deposits in the amount of EUR 2.6 billion. The average interest rate on new fixed-term deposits rose by nearly one-tenth of a percentage point to 1.78%, from 1.69% in October.


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 102.728 103.335 103.931 6.0 2.43
    - of which housing loans 75.513 76.070 76.425 6.8 2.03
Loans to non-financial corporations2, stock 57.213 56.952 57.014 5.4 2.44
Deposits by households2, stock 76.513 76.782 76.050


Households' new drawdowns of housing loans 1.738 1.714 1.686 2.21

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:
Elina Salminen, tel. +358 10 831 2343, email: elina.salminen(at)
Kimmo Koskinen, tel. +358 10 831 2546, email: Kimmo.koskinen(at)
Olli Alanko, tel. +358 10 831 2456, email: olli.alanko(at)

The next news release will be published at 1 pm on Monday 31 January 2011.

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