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Household net debt to the banks increases
statistikk
2015-06-26T10:00:00.000Z
National accounts and business cycles
en
finsek, Financial accounts, financial investments, households and non-profit organisations, general government, abroad, balance sheets, FINSEFinancial accounts , National accounts and business cycles
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Financial accountsQ1 2015

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Household net debt to the banks increases

The increase in household deposits declined, while borrowing from the banking sector and investments in securities grew in the first quarter of 2015. This is a change from the previous quarter, when the increase in bank deposits was at a record high and debt developments were stable.

Financial accounts for households. Key figures. Million NOK and percentage
1st quarter 20142nd quarter 20143rd quarter 20144th quarter 20141st quarter 2015
1Seasonal adjusted
Assets3 616 5813 718 2663 749 2463 827 1013 885 196
Liabilities2 772 5772 840 5092 864 5132 935 6552 958 020
Net financial assets844 004877 757884 733891 446927 176
 
Net lending26 1191 966-3 907-8 16410 760
Other changes20 07331 78710 88314 87724 970
 
Debt to income ratio1224.5225.2225.4227.2228.8
Debt growth (per cent)16.66.36.26.16.5
Figure 1. Households’ net lending and change in net financial assets over the last four quarters.  Net financial assets as a ratio of disposable income, seasonally adjusted
Figure 2. Households’ incurrence of debt and acquisition of currency and deposits over the last four quarters
Figure 3. Households’ deposits and debt to banks and mortgage companies
Figure 4. Households’ debt growth over the last four quarters. Liabilities as a ratio of disposable income, seasonally adjusted
Figure 1. Households’ net lending and change in net financial assets over the last four quarters.  Net financial assets as a ratio of disposable income, seasonally adjustedFigure 2. Households’ incurrence of debt and acquisition of currency and deposits over the last four quartersFigure 3. Households’ deposits and debt to banks and mortgage companiesFigure 4. Households’ debt growth over the last four quarters. Liabilities as a ratio of disposable income, seasonally adjusted

Households’ net purchase of shares in mutual funds amounted to NOK 9 billion in the last four-quarter period to the first quarter of 2015. There was also a modest net purchase of shares in the previous quarter, but overall there was a net sale of other securities from the household portfolio in the four-quarter period.

Increased debt growth

Households’ bank deposits increased by NOK 69 billion, which is a NOK 7 billion lower increase than in the previous four-quarter period. At the same time, households’ incurrence of debt is calculated at NOK 180 billion, which is up NOK 10 billion from the previous four-quarter period. Borrowing from banks and mortgage companies was NOK 148 billion after an increase in borrowing of NOK 19 billion in the first quarter of 2015.

The development is illustrated by the debt growth, which was 6.5 per cent last quarter compared to 6.1 per cent in the fourth quarter of last year. The seasonally-adjusted debt to income ratio was 228.8 per cent of disposable income at the end of the first quarter of 2015 compared to 227.2 per cent at the end of the previous quarter.

Lower net lending

Households’ net lending was NOK 1 billion in the last four-quarter period. Net lending was reduced by NOK 15 billion from the previous four-quarter period. Net holding gains contributed with NOK 82 billion and households’ net assets increased by NOK 83 billion in the last four-quarter period to the first quarter of 2015.