Monthly news 26 February 2010
Loans
In January, households drew down new housing loans in the amount of EUR 1.0 billion, which was EUR 180 million less than in December 2009 and almost as much as in January 2009. The average interest rate on new housing loan drawdowns fell to 1.98% in January from 2.00% in December. The stock of MFI housing loans to households grew by EUR 0.2 billion on December, to EUR 72.1 billion at the end of January. Thus, the annual growth rate of the stock of housing loans rose to 6.6% from 6.4% in December. The average interest rate on the stock of housing loans declined by 0.06 percentage point from December, to 2.06% at the end of January.
In January, new corporate loan agreements were made to a total value of EUR 5.5 billion, which was EUR 1.4 billion less than in December and EUR 0.8 billion less than in January 2009. In January, the average interest rate on new corporate loan agreements fell by 0.1 percentage point to 2.19%. The stock of euro-denominated corporate loans grew by EUR 0.8 billion, to EUR 54.9 billion at the end of January. The average interest rate on the corporate loan stock decreased to 2.30%, from 2.34% in December.
Deposits
The stock of household deposits increased by EUR 0.4 billion on December, to EUR 74.4 billion at the end of January. The annual growth rate of the stock of household deposits was 0.3% in January. The average interest rate on the stock of household deposits fell from 0.80% in December to 0.79% in January.
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
| |
November,
EUR million |
December,
EUR million |
EUR million |
January,
12-month change1, % |
Average interest rate, % |
| Loans to households2, stock |
98.189 |
98.388 |
98.584 |
5.6 |
2.47 |
| - of which housing loans |
71.549 |
71.860 |
72.058 |
6.6 |
2.06 |
| Loans to non-financial corporations2, stock |
54.227 |
54.093 |
54.866 |
-3.1 |
2.30 |
| Deposits by households2, stock |
72.321 |
74.023 |
74.443 |
0.3 |
0.79 |
|
|
|
|
|
|
| Households' new drawdowns of housing loans |
1.383 |
1.214 |
1.034 |
– |
1.98 |
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)bof.fi
Olli Alanko, tel. +358 10 831 2456, email: olli.alanko(at)bof.fi
The next bulletin will be published at 1 pm on Wednesday 31 March 2010.
You can also subscribe to the monthly Loans, deposits and interest rates –newsletter to your email from the Bank of Finland website
http://www.bof.fi/en/julkaisut/sahkoisten_julkaisujen_tilaaminen/index.htm