Statistikk innhold

Statistics on

Financial accounts

The financial accounts are designed to provide a comprehensive and consistent survey of institutional sectors’ financial assets, liabilities and financial transactions.

Updated: 4 September 2025
Next update: 4 December 2025

Selected figures from these statistics

  • Financial accounts for households. Key figures. Billion NOK and percentage
    Financial accounts for households. Key figures. Billion NOK and percentage
    2nd quarter 20243rd quarter 20244th quarter 20241st quarter 20252nd quarter 2025
    Assets7 1877 2837 4097 4447 712
    Liabilities4 6474 6714 7454 7524 841
    Net financial assets2 5392 6122 6652 6932 871
    Net lending29-985362
    Other changes668245-25116
    Debt to income ratio1 223.6221.3219.7218.5217.2
    Debt growth (per cent)1 3.53.73.94.14.2
    1Seasonal adjusted
    Explanation of symbols
  • Financial assets, liablilities and net lending by institutional sectors. Last period. NOK million.
    Financial assets, liablilities and net lending by institutional sectors. Last period. NOK million.
    2nd quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NPISHRest of the world
    Net finanical assets-6 146 031514 83522 142 6433 041 087-19 552 534
    Assets12 402 76319 589 77125 140 6317 918 45711 316 658
    Cash and currency, etc.4 77979 09276429 14072 145
    Deposits1 197 8041 555 846556 0681 988 5571 892 360
    Debt securities279 8463 507 1665 784 83816 2603 688 858
    Loans3 424 4198 627 3901 568 873156 3241 836 712
    Equity4 936 9713 149 66516 308 8052 079 1682 917 486
    Investment fund shares or units302 8901 970 07533 632702 787138 666
    Insurance and pension entitlements70 00440 30084 2592 584 70656 166
    Other accounts receivable2 173 564333 953775 437355 120482 458
    Liabilities18 548 79419 074 9362 997 9884 877 37030 869 192
    Cash and currency, etc.0109 6530076 267
    Deposits06 021 950001 168 685
    Debt securities1 124 0063 507 827937 2193 9397 703 977
    Loans6 148 2131 289 1041 557 0664 703 9771 915 358
    Equity8 962 5552 455 2540017 974 286
    Investment fund shares or units02 227 41700920 633
    Insurance and pension entitlements02 805 8320029 603
    Other accounts payable2 286 121326 923474 574169 354863 560
    Net lending, sum 4 last quarters-45 706129 470696 735122 108-902 607
    1Including reconciliation sector
    Explanation of symbols
  • Households' financial assets, liabilities and net lending. NOK million.
    Households' financial assets, liabilities and net lending. NOK million.
    2nd quarter 20243rd quarter 20244th quarter 20241st quarter 20252nd quarter 2025
    Net financial assets2 539 3372 611 8062 664 5202 692 5512 870 611
    Assets7 186 5697 283 2827 409 3617 444 2207 712 105
    Cash and currency28 53028 10128 84127 99528 480
    Deposits1 765 0971 738 2121 743 5081 801 5261 897 312
    Debt securities9 9019 6958 9308 6409 115
    Loans153 619154 301154 216155 239156 324
    Equity1 993 0082 000 7372 009 5432 014 0072 042 323
    Investment fund shares or units530 477581 589622 797593 282643 620
    Insurance and pension entitilements2 378 4302 437 4952 476 4512 484 5282 584 631
    Other accounts receivable320 421325 966359 691352 713344 086
    Liabilities4 647 2324 671 4764 744 8414 751 6694 841 494
    Loans4 481 3784 534 2494 571 7424 606 0754 673 521
    Other accounts payable165 774137 137173 007145 515167 890
    Net lending29 168-9 2557 69152 71662 324
    Explanation of symbols
  • Interlinkages of creditor and debtors. Loan. NOK million.
    Interlinkages of creditor and debtors. Loan. NOK million.
    2nd quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHRest of the world
    Creditor sector
    Assets
    Non-financial corporations1 2 996 1834 65014 10718 856390 623
    Financial corporations2 070 524663 573596 6094 476 619820 065
    General government48 003508 177121 617186 406704 670
    Households & NIPSH142 00414 311900
    Rest of the world891 49998 393824 72422 0960
    Flows
    Non-financial corporations1 151137-38620011 495
    Financial corporations26 36345 8349 43167 491-84 937
    General government-2 8104 5000774-61 565
    Households & NIPSH1 00085000
    Rest of the world-11 268-16 855-114 02600
    1Including reconciliation sector.
    Explanation of symbols
  • Interlinkages of creditors and debtors. Debt securities. NOK million.
    Interlinkages of creditors and debtors. Debt securities. NOK million.
    2nd quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentRest of the world
    Creditor sector
    Stocks
    Non-financial corporations1 39 44619 42723 737197 236
    Financial corporations271 820977 883357 6061 895 918
    General government30 20459 59787 6145 607 423
    Household & NIPSH5 0317 5842453 400
    Rest of the world777 5052 443 336468 0170
    Flows
    Non-financial corporations1 1 036-3 147-631-25 600
    Financial corporations-7 043-15 11321 838-10 614
    General government-7542047 708197 984
    Household & NIPSH-4412659
    Rest of the world20 20573 2868900
    1Including reconciliation sector.
    Explanation of symbols
  • Interlinkages of creditors and debtors. Listed and unlisted shares. NOK million.
    Interlinkages of creditors and debtors. Listed and unlisted shares. NOK million.
    2nd quarter 2025
    Issuing sector
    Non-financial corporations1 Financial corporationsRest of the world
    Holding sector
    Stocks
    Non-financial corporations1 3 170 902162 1271 416 446
    Financial corporations758 280585 6931 763 945
    General government1 116 300246 36314 226 315
    Households & NIPSH1 272 007299 955118 289
    Rest of the world2 153 240593 3660
    Flows
    Non-financial corporations1 13 5373 816-12 171
    Financial corporations13 97111 82062 677
    General government-2 591-1 02718 031
    Households & NIPSH-2071 8712 760
    Rest of the world-7 9774 1640
    1Including reconciliation sector.
    Explanation of symbols
  • Domestic sectors' financial assets and liabilities towards the rest of the world. Last period. NOK million.
    Domestic sectors' financial assets and liabilities towards the rest of the world. Last period. NOK million.
    2nd quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHSum domestic sectors
    Net financial assets-1 321 9661 100 71019 221 355552 43519 552 534
    Assets2 861 5386 699 92720 733 196574 53130 869 192
    Cash and currency, etc.076 2670076 267
    Deposits46 7971 080 85325 19015 8451 168 685
    Debt securities197 2361 895 9185 607 4233 4007 703 977
    Loans390 623820 065704 67001 915 358
    Equity1 506 6301 765 85414 228 888472 91417 974 286
    Investment fund shares or units95 696737 7744 79182 372920 633
    Insurance and pension entitlements029 6030029 603
    Other accounts receivable620 615106 563136 3820863 560
    Liabilities4 183 5045 599 2171 511 84122 09611 316 658
    Cash and currency, etc.072 1450072 145
    Deposits01 892 360001 892 360
    Debt securities777 5052 443 336468 01703 688 858
    Loans891 49998 393824 72422 0961 836 712
    Equity2 324 120593 366002 917 486
    Investment fund shares or units0138 66600138 666
    Insurance and pension entitlements056 1660056 166
    Other accounts payable164 947125 863191 6480482 458
    1Including reconciliation sector.
    Explanation of symbols

About the statistics

The information under «About the statistics» was last updated 2 July 2025.

1. Net lending defined in non-financial accounts (capital account) =

saving + net capital transfers - net acquisition of non-financial assets

2. Net lending defined in financial accounts =

net acquisition of financial assets - net incurrence of liabilities

Savings is non-consumed income and can be invested in financial or non-financial assets. If savings exceed non-financial investments, a sector has surplus of funds and becomes a net lender to other sectors. In the financial transaction account, this means that the sector acquire more financial assets than liabilities. On the other hand, if savings are less than non-financial investments, investments have to be funded either by selling financial assets or incurring debts. For example, household investments in non-financial assets mainly reflect the purchase of new housing and fixed investments by unincorporated enterprises. They typically finance substantial parts of these investments by incurring debt in the form of loans.

Net financial assets (net financial wealth) = total financial assets - total liabilities

The financial balance sheet shows the financial position of a sector at the end of the reference period and is broken down into categories of financial assets and liabilities. The predominant assets held by for example the households, are insurance technical reserves, currency and deposits, while loans provided by financial corporations (banks etc) constitute the main proportion of liabilities.

Changes in net financial asset = net lending + other changes in assets and liabilities

The change in the financial balance sheet during the reference period is a result of accumulated financial transactions and other changes in assets. The latter category mainly reflects revaluations due to changes in market prices of financial instruments.

Accounting system

The accounting system provides the framework and contents required for compiling national accounts statistics. In the system, each financial asset has a counterpart liability. This is reflected by the data structure of the financial accounts which is three-dimensional; creditor sector * debtor sector * financial instrument.

Institutional sector classification

Each institutional sector comprises institutional units with broadly similar behaviour. The institutional units are grouped into mutually exclusive institutional sectors on the basis of economic activity, organisational structure and ownership. Institutional units are autonomous entities that are capable, in their own right, of owning assets, incurring liabilities and engaging in economic activities and in transactions with other entities. In most cases, the institutional unit is identical to the legal unit or persons or groups of persons in the form of households.

The institutional sector classification in the financial accounts is based on the recommendations of the SNA 2008 and ESA 2010. The main sectors of the system are detailed below:

1 Total economy

The total economy of a country consists of all institutional units having their centre of predominant economic interest in the economic territory of that country. Such units are known as resident units, irrespective of nationality and legal form.

Branches and other establishments of Norwegian corporations abroad are not included. See rest of world.

11 Non-financial corporations

The sector covers institutional units engaged in the market production of non-financial products and services.

The reconciliation sector, which shows the inconsistencies between debtor and creditor sector information and sometimes the inconsistencies between the financial accounts and the non-financial accounts, is treated as a separate sector in the working databases in the financial accounts. The data for the reconciliation sector has been added to the non-financial corporation sector in the publications and the reports to Eurostat and OECD.

12 Financial corporations

The sector covers institutional units engaged the market production of financial services and in financial activities. The sector comprise entities that are credit intermediaries or offer insurance products and services, mutual funds, financial holding companies, but also entities whose main activities are financial auxiliary services (e. g. brokerage services, fund management services, financial register services etc.). The main sector is divided into the following sub-sectors:

  • 121 Norges Bank
  • 1221 Banks
  • 1222 Mortgage companies
  • 123 Money market funds
  • 124 Non-MMF investment funds
  • 125-127 Other financial corporations
  • 128-129 Life insurance corporations, non-life insurance corporations and pension funds

The aggregate sector 125-127 Other financial corporations consists of finance companies, financial holding companies, financial auxiliaries, state lending institutions, state investment companies and other investment companies.

124 Non-MMF investment funds include alternative investments funds (AIF) from the year 2012. Before that the AIFs are included in 125-127 Other financial corporations.

13 General government

The sector covers all state, municipal and county municipal administrative bodies. The Government Pension Fund - Global (previously known as Petroleum Fund) and The Government Pension Fund - Norway (previously known as the National Insurance Scheme Fund) are also included. Non-financial and financial corporations controlled by government are not included.

In addition to carrying out political responsibilities, the general government sector provides and enforces regulations, produces public services (mainly non-market) and redistributes income and wealth. The general government sector has tax revenues, property income and borrowed capital at its disposal. The main sector is divided into the following sub-sectors:

  • 131 Central government
  • 133 Local government

14 Households

The households sector covers wage-earners, retirees, recipients of national insurance benefits, unincorporated enterprises and tenant-owner’s associations etc. The households consume goods and services, supplies labour and as entrepreneurs, supplies the production of market goods and services. The sector comprises the “consumers of the economy´´. Total consumption expenditure is partly financed by the households themselves, partly by general government and partly by non-profit institutions serving households. The households also produces goods and services for their own consumption. The services related to housing is the largest part of the self-produced, self-consumed service. Because the property in tenant-owner’s associations are considered as owner-tenant properties, the tenant-owner associations are included in the households sector.

15 Non-profit institutions serving households (NPISH)

NPISHs consist of non-profit institutions that are separate legal entities, which serve households and which are principally engaged in the production of non-market goods and services intended for households. Their main resources, apart from those derived from occasional sales, are transfers from general government, voluntary contributions by households and corporations, and property income.

2 Rest of the world

This institutional sector includes all non-resident institutional units that enter into transactions with resident units, or have other economic links with resident units. This includes:

  • Non-resident institutional units controlled by foreign or Norwegian corporations.
  • Natural persons who are permanent resident abroad (including Norwegian citizens)
  • Staff of foreign embassies, foreign embassies and consulates and in Norway

The classification of financial assets and liabilities

The financial accounts include a limited number of financial instrument groups with detailed claims and debt items in the balance sheets of institutional units. The financial instrument links one entity claim to another sector’s debt items. The financial instruments are grouped in claim and debt items with similar economic functions. For example, the payment function is characteristic of coins, notes and salary accounts, while credit is procured through different types of loans. In addition, the liquidity ratio has been the determinant factor for the ranking of financial assets in the classification.

Classification of financial assets and liabilities in the financial accounts is based on the recommendations of the SNA 2008 and ESA 2010. The classifications are described below:

AF1 Monetary gold and drawing rights (SDR)

Comprise gold and special drawing rights (SDRs). Norges Bank sold the rest of its gold reserves in 2004. Before that gold was a very small proportion of the banks total reserves. As a simplification gold is therefore excluded from the financial accounts for the whole period from 1995.

AF2 Currency and deposits

Comprise Norwegian and foreign notes and coins, all types of deposits with commercial banks and savings banks, Norges Bank and foreign banks. The net reserves position with the IMF is also included. The financial accounts distinguish between the following types of detailed financial instruments:

  • Currency
  • Transferable deposits
  • Other deposits

AF3 Dept securities

Comprise short and long-term securities. Short-term securities is defined as negotiable securities with original maturity of maximum one year, while long-term securities comprise instruments defined as tradable standardised debentures with original maturity of more than one year. The financial accounts distinguish between the following types of detailed financial instruments:

  • Short-term securities
  • Long-term securities

AF4 Loans

This financial instrument includes lending forms other than tradable debentures and certificates and is mainly quantified on the basis of the specifications in accounting statistics for financial corporations. The financial accounts distinguish between the following types of detailed financial instruments:

  • Short-term loans
  • Long-term loans

AF5 Shares and other equity

The instrument includes ordinary shares in limited liability companies, shares in general partnerships and shares in mutual funds. Shares in foreign companies are also included. Furthermore, the instrument includes tradable Norwegian equity certificates and general government capital contributions in public enterprises and the state lending institutions. As from Q4 2021 the Equity certificates are included in Quoted shares. Before Q4 2021 the instrument is included in Other equity. The financial accounts distinguish between the following types of detailed financial instruments:

  • Quoted shares
  • Unquoted shares
  • Other equity
  • Mutual funds shares

AF6 Insurance technical reserves

The instrument includes individual insurance savings and group insurance savings in private life insurance companies and total capital in autonomous municipal and private pension funds. Prepayments of premiums and reserves against outstanding claims in non-life insurance companies are also included. The financial accounts distinguish between the following types of detailed financial instruments:

  • Non-life insurance technical reserves
  • Life insurance and annuity entitlements
  • Pension entitlements - defined contribution
  • Pension entitlements - defined benefit
  • Claims of pension funds on pension managers

AF7 Financial derivatives and employee stock options

The instrument financial derivatives consists of several types of derivatives and employee stock options. There is a weak source base for compiling transactions. Therefore transactions in AF7 is sometimes adjusted and used for net lending balancing purposes.

AF8 Other accounts receivable/payable

Comprise claims and debt that is due to differences in timing between transactions and payments. For example deferred tax claims/liabilities and unsettled trades of financial instruments. Dwellings held by Norwegian residents in the rest of the world are recorded on AF8, and also Norwegian dwellings held by non-residents. Transactions in AF8 is sometimes adjusted and used for net lending balancing purposes.

Relatert innhold