Monthly news 31 August 2010
Loans
According to preliminary data, households’ new drawdowns of housing loans amounted to EUR 1.5 billion in July, which was EUR 0.4 billion less than in June and EUR 0.2 billion more than a year ago in July. The average interest rate on new housing loan drawdowns rose to 2.03% in July, from 1.90% in June. The stock of MFI housing loans to households grew by EUR 0.4 billion from the June figure, to EUR 74.6 billion at the end of July. The annual growth rate of the housing loan stock remained unchanged from June, at 6.8%. The average interest rate on the stock of housing loans rose by 0.02 percentage point from June, to 1.94%.
New corporate loan agreements we made in July to a total value of EUR 8.4 billion. The average interest rate on new corporate loan agreements fell to 1.75% in July, from 2.05% in June. The stock of euro-denominated corporate loans remained unchanged from June, at EUR 56.9 billion. Year-on-year, the corporate loan stock grew by 1.5% in July, compared to an increase of 1.3% in June. The average interest rate on the corporate loan stock rose by 0.04 percentage point from June, to 2.30%.
Deposits
The stock of household deposits grew by EUR 0.4 billion from June, to EUR 76.6 billion at the end of July. The average interest rate on the stock of household deposits was 0.82% at the end of July. Households placed EUR 1.6 billion worth of new fixed-term deposits in July. The average interest rate on new fixed-term deposits declined by 0.08 percentage point to 1.60%.
Notes:
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
| |
May,
EUR million |
June,
EUR million |
EUR million |
July,
12-month change1, % |
Average interest rate, % |
| Loans to households2, stock |
100.267 |
101.143 |
101.704 |
5.7 |
2.33 |
| - of which housing loans |
73.524 |
73.194 |
74.600 |
6.8 |
1.94 |
| Loans to non-financial corporations2, stock |
56.192 |
56.911 |
56.922 |
1.5 |
2.30 |
| Deposits by households2, stock |
75.621 |
76.233 |
76.592 |
3.8 |
0.82 |
|
|
|
|
|
|
| Households' new drawdowns of housing loans |
1.753 |
1.919 |
1.537 |
– |
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.
More information:
Kimmo Koskinen, tel. +358 10 831 2546, email: kimmo.koskinen(at)bof.fi
The next news release will be published at 1 pm on 30 September 2010.
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