New drawdowns of housing loans 2005-2009Loans

Households’ new drawdowns of housing loans amounted to EUR 2.0 bn in May 2011, which was EUR 0.4 bn more than in April and EUR 0.2 bn more than a year ago in May. The average interest rate on new housing loan drawdowns rose by 0.05 percentage point, to 2.59%. The stock of euro-denominated MFI housing loans to households grew by EUR 0.5 bn on April, to EUR 78.5 bn at end-May. The annual growth rate of the stock of housing loans remained virtually unchanged in May, declining just 0.1 percentage point to 6.7%. The average interest rate on the stock of housing loans increased by 0.08 percentage point on April, to 2.29% at end-May. The portion of Prime rate-tied new housing loans doubled in early 2011: of the housing loans drawn down in May, 10% were tied to banks’ own reference rates. The popularity of Euribor rates declined, albeit in May they remained the most commonly applied reference rates for housing loans, with an 85% share.

New loan agreements with non-financial corporations in May totalled EUR 7.1 bn, which is EUR 0.7 bn more than in April. The average interest rate on new loan agreements fell to 2.64% in May, from 2.69% in April. The stock of euro-denominated loans to non-financial corporations increased by EUR 0.4 bn, to EUR 58.4 bn at end-May. The annual growth rate of the stock declined by 0.3 percentage point to 4.0%. The average interest rate on the stock of loans to non-financial corporations increased by 0.07 percentage point to 2.70%.



Household deposits declined by EUR 0.2 bn in May. The month-end total of household deposits was EUR 79.3 bn, and the average interest rate was 0.95%.Total deposits with agreed maturity grew by EUR 0.6 bn, mainly due to conversions from overnight deposits. The average interest rate on new deposits with agreed maturity rose in May by 0.16 percentage point to 2.22%.

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 104.936 105.421 106.058 6.0 2.67
    - of which housing loans 77.529 77.976 78.495 6.7 2.29
Loans to non-financial corporations2, stock 57.476 57.970 58.362 4.0 2.70
Deposits by households2, stock 78.149 79.527 79.323


Households' new drawdowns of housing loans 1.637 1.634 1.999 2.59

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:
Kimmo Koskinen, tel. +358 10 831 2546, email: kimmo.koskinen(at)
Hanna Häkkinen, tel. 358 10 831 2552, email: hanna.hakkinen(at)
Jussi Pajunen, tel. +358 10 831 2343, email: jussi.pajunen(at)

The next news release on money and banking statistics will be published on 29 July 2011, at 1 pm.

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