Housing loansLoans

Households' new drawdowns of housing loans in February 2012 amounted to EUR 1.4 bn. The average interest rate on new housing-loan drawdowns declined by 0.08 percentage point, to 2.38%. In February 80% of new housing loans were linked to Euribor rates. Fixed-rate housing loans accounted for 11% and loans linked to banks' own reference rates 8% of interest rates on new housing loans. In December 2011 as much as 12% of new housing loans were still linked to prime rates.

The stock of euro-denominated housing loans increased EUR 200 m in February, to EUR 82.1 bn at month-end. The average interest rate on the stock fell to 2.42%. The annual growth rate of the housing loan stock moderated from January, to 6.4% in February.

New loan agreements with non-financial corporations amounted to EUR 6.8 bn in February. The average interest rate on new corporate loan agreements fell to 2.32%, from 2.43% in January. The stock of euro-denominated loans to non-financial corporations increased by EUR 600 m in February, to EUR 61.6 bn at month-end. The average interest rate on the stock was 2.63%. The annual growth rate of the corporate loan stock accelerated to 7.4%, from 7.0% in January.


The stock of household deposits contracted in February. At the end of the month the total stock of household deposits amounted to EUR 81.6 bn and carried an average interest rate of 1.03. Households concluded new agreements on deposits with agreed maturity to a total value of 2.1 bn in February, and the average interest rate on these fell to 1.89%, from 2.06 in January.

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 109.551 109.726 109.984 5.2 2.78
    - of which housing loans 81.781 81.884 82.119 6.4 2.42
Loans to non-financial corporations2, stock 60.361 60.997 61.647 7.4 2.63
Deposits by households2, stock 82.612 81.894 81.636


Households' new drawdowns of housing loans 1.529 1.252 1.370 2.38

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 4 pm on 30 April 2012.

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