Housing loan stock nearly EUR 100 bn
In October 2019, the stock of housing loans granted by credit institutions increased to almost EUR 100 bn (EUR 99.95 bn). The growth rate of the housing loan stock has picked up since early 2019. In October it was 2.4%, and a higher growth rate has last been recorded in September 2016. Growth in the stock of housing loans in October was fuelled by new housing loans and the high volume of their drawdowns.
New housing loan drawdowns in October 2019 amounted to EUR 1.9 bn, up by EUR 145 million on the corresponding period a year earlier. The last time housing loan drawdowns in October have exceeded this level was in 2007. The decline in the average interest rate on new housing loans has halted since the summer, and during the past three months the average rate has been 0.72%.
Recent years have seen a lengthening in the average amortisation periods of housing loans in Finland. In October 2019, the average maturity of a housing loan was 20 years 9 months. Over 68% of new housing loans were granted with a maturity of over 20 years. The share of loans with longer amortisation periods (over 29 years) in new housing loans has increased: in October 2019, the share was 7%, compared with 3% in October 2018.
Loans
At the end of October, household credit comprised EUR 16.5 bn in consumer credit and EUR 17.6 bn in other loans. New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted to EUR 2.2 bn in October. The average interest rate on new corporate-loan drawdowns declined from September, to 2.21%. At the end of October, the stock of euro-denominated loans to non-financial corporations was EUR 90.6 bn, of which loans to housing corporations accounted for EUR 34.6 bn.
Deposits
The stock of deposits by Finnish households at end-October totalled EUR 94.4 bn and the average interest rate on the deposits was 0.11%. Overnight deposits accounted for EUR 81.5 bn and deposits with agreed maturity for EUR 4.9 bn of the deposit stock. In October, households concluded EUR 0.4 bn of new agreements on deposits with agreed maturity, at an average interest rate of 0.12%.
Related statistical data and graphs are also available on the Bank of Finland website: https://www.suomenpankki.fi/en/Statistics/mfi-balance-sheet/.
Contacts
Meri Sintonen, tel. +358 9 183 2247, email: meri.sintonen(at)bof.fi,
Markus Aaltonen, tel. +358 9 183 2395, email: markus.aaltonen(at)bof.fi.
Images
Links
About Suomen Pankki
The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro.
Subscribe to releases from Suomen Pankki
Subscribe to all the latest releases from Suomen Pankki by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Suomen Pankki
Decisions taken by the Governing Council of the ECB (in addition the decisions setting interest rates)24.1.2020 16:07:00 EET | Uutinen
Decisions taken by the Governing Council of the ECB (in addition the decisions setting interest rates), January 2020 Read more
EKP:n neuvoston päätökset (muut kuin korkopäätökset)24.1.2020 16:07:00 EET | Uutinen
EKP:n neuvoston päätökset (muut kuin korkopäätökset), tammikuu 2020 Lue lisää
ECB-rådets beslut (utöver räntebeslut)24.1.2020 16:07:00 EET | Uutinen
ECB-rådets beslut (utöver räntebeslut), Januari 2020 Läs mer
A total of 980 counterfeit euro banknotes found in Finland in 201924.1.2020 11:00:00 EET | Press release
In 2019, a total of 980 counterfeit euro banknotes were detected among banknotes in circulation in Finland. The number of counterfeits was slightly higher than in 2018 but is still low compared with other euro area countries.
I Finland påträffades 980 förfalskade eurosedlar under 201924.1.2020 11:00:00 EET | Tiedote
Bland de utelöpande sedlarna i Finland påträffades 980 förfalskade eurosedlar under 2019. Mängden har ökat något från förra året, men är fortfarande liten jämfört med det övriga euroområdet.
Suomessa löytyi viime vuonna 980 euroseteliväärennöstä24.1.2020 11:00:00 EET | Tiedote
Suomessa kierrosta löydettiin vuoden 2019 aikana 980 euroseteliväärennöstä. Määrä on hieman kasvanut viime vuodesta, mutta on edelleen muuhun euroalueeseen verrattuna vähäinen.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom