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/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
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statistikk
2018-06-19T08:00:00.000Z
Banking and financial markets
en
banker, Banks and mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowersFinancial institutions and other financial corporations, Banking and financial markets
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Banks and mortgage companies

From January 2018, there is a larger modification in the statistics for banks and mortgage companies. There is still some uncertainty associated with the quality of data from January 2018. The input data is edited continuously, and is updated with the next releases of the statistics.

Updated

Next update

Key figures

1 210

NOK billion in deposits from Households, April 2018

Selected figures. NOK million.
April 2017April 2018
Banks
Loans to households1 352 1791 466 437
Loans to manufacturing industry64 28170 778
Deposits from households1 156 2441 210 000
Mortgage companies
Loans to households1 349 3721 414 402
Loans to manufacturing industry9811 098
State lending institutions
Loans to households229 621238 975
Loans to manufacturing industry1 7281 619

See more tables on this subject

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
January 2018February 2018March 2018April 2018
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries1 294 1791 309 8191 315 5761 330 449
 
Agriculture47 55546 01946 35646 952
Forestry3 0453 0193 0813 147
Fishing and hunting29 48729 59029 77430 290
Fish farming services18 85019 09519 62819 861
Mining and quarrying113 63313 74412 90313 125
Services linked to extraction of crude petroleum and natural gas13 5393 5023 6644 099
Extraction of crude petroleum and natural gas15 55216 94416 42615 451
Manufacturing industry67 94071 41470 50570 778
Ship and boat building8 8308 2608 6668 925
Electricity and water supply38 01439 36640 38941 266
Water supply, drainage and waste disposal3 1953 6493 4743 662
Real estate development101 496102 665105 600107 236
Building and construction work beyond real estate development41 96241 92542 01543 552
Commodity trade etc65 50469 21668 56070 386
Sea transport abroad and transport via pipelines155 76156 49057 14957 643
Transportation and storage163 77265 04062 55863 783
Hotels and restaurants14 16114 27814 43314 588
Information and communication18 95818 91719 08519 235
Real estate, renting and business activities546 212551 657557 049560 736
Professional and financial services63 41560 54259 79060 848
Businesslike services32 03633 08832 83034 402
Other service activities41 26141 39941 64040 480

Table 2 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
January 2018February 2018March 2018April 2018
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries170 132170 458170 931169 287
 
Agriculture2 1682 1932 1952 227
Forestry232233237252
Fishing and hunting190190185187
Fish farming services462479490502
Mining and quarrying179869699
Services linked to extraction of crude petroleum and natural gas154535251
Extraction of crude petroleum and natural gas1111
Manufacturing industry1 0791 0901 0851 098
Ship and boat building55555354
Electricity and water supply181180180195
Water supply, drainage and waste disposal5 4585 4695 4885 533
Real estate development3 2453 2953 3643 325
Building and construction work beyond real estate development4 2494 2504 3214 325
Commodity trade etc2 0992 1092 1232 123
Sea transport abroad and transport via pipelines14 9125 4145 1895 209
Transportation and storage136 86536 65936 62636 346
Hotels and restaurants826836842853
Information and communication732773781782
Real estate, renting and business activities91 01390 72891 52289 958
Professional and financial services3 4993 6233 6213 665
Businesslike services6 2366 2606 0996 144
Other service activities6 4966 4846 3826 358

Table 3 
State lending institutions. Loans by industry. NOK million

State lending institutions. Loans by industry. NOK million
January 2018February 2018March 2018April 2018
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries78 30581 51580 58580 628
 
Agriculture4 5535 5104 5184 489
Forestry82859597
Fishing and hunting5 0395 4946 2766 290
Fish farming services248301346416
Mining and quarrying11601602735
Services linked to extraction of crude petroleum and natural gas15-21-7
Extraction of crude petroleum and natural gas762....
Manufacturing industry2 3742 9651 7431 619
Ship and boat building13552150261
Electricity and water supply153156145144
Water supply, drainage and waste disposal10710733
Real estate development1 6611 6771 7481 755
Building and construction work beyond real estate development538547566568
Commodity trade etc209309183189
Sea transport abroad and transport via pipelines1236381227226
Transportation and storage1436686495492
Hotels and restaurants9579581 1041 102
Information and communication351347475495
Real estate, renting and business activities42 17042 31643 11543 044
Professional and financial services1 0421 1381 2021 200
Businesslike services107104147147
Other service activities17 73518 16218 02018 060

About the statistics

The statistics on banks and mortgage companies compile balance sheets and profit and loss accounts for credit institutions, finance companies and state lending institutions. The balance sheet shows assets, liabilities and equity. The profit and loss account shows revenues and expenses.

Definitions

Definitions of the main concepts and variables

Balance sheet

The balance sheet shows assets, liabilities and equity at the end of the accounting period. The most important balance sheet items are presented by sector.

Norwegian covered bonds

Covered bonds are bonds conferring a preferential claim over a cover pool consisting of public sector loans and loans secured on dwellings or other real property. Only mortgage companies with special authorisation can issue covered bonds in Norway, and these bonds have been issued since June 2007.

On 24 October 2008, the Norwegian Parliament granted the Ministry of Finance the authority to put into effect an arrangement where Norwegian banks could “swap” covered bonds with treasury bills. This “swap agreement” was aimed at reducing the negative effects of the financial crisis. The banks can acquire covered bonds either in the market or directly from mortgage companies that are licensed to issue covered bonds. Since the announcement of this offer by the Norwegian government, a number of new mortgage companies have been established. As a result, lending portfolios have been swapped between banks and mortgage companies.

 

Standard classifications

There are four types of classifications: object/instrument, sector, industry and type.

Finance objects and real objects (instruments)

Liabilities, claims and other assets in banks and financial corporations' balance sheets are divided into main equable groups, for example loans, bank deposits, bonds, shares etc.

Debitor and creditor sector

Borrowers and lenders are classified by institutional sector classification based on the national accounts' regulations. See our pages for the reporting insttitutions;

http://www.ssb.no/a/innrapportering/orbof/

Debitor and creditor industry

Based on regulations in the industry standard, loans and deposits are grouped according to which industry the debitor or creditor belongs to. See our pages for the reporting insttitutions;

http://www.ssb.no/a/innrapportering/orbof/

Income and cost types
Income and cost types are based on regulations for the national accounts. Examples of income and cost types are interest income and interest costs.

Administrative information

Name and topic

Name: Banks and mortgage companies
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Corporations

Regional level

The whole country

Frequency and timeliness

The statistics is published monthly, normally 5 weeks after the end of the month.

International reporting

Reporting to the BIS, Eurostat, the IMF and the OECD.

Microdata

Not relevant

Background

Background and purpose

The reporting procedure is made in collaboration between the Financial Supervisory Authority of Norway, Norges Bank and Statistics Norway. The data from banks and financial corporations form the basis for the supervision of the institutions and the financial markets. The data is also an information base for the monetary and credit market policy and a vital contribution to the statistics for credit indicators and monetary growth. The reporting is the main base for the official statistics on financial enterprises. It is also an important input in the national accounts and the balance of payments and the credit market statistics. The data is used for international reporting to the BIS, Eurostat, the IMF and the OECD etc.
The statistics production is done by Statistics Norway from 1. January 2007.

Users and applications

The main area of application is statistics (publishing and input in other statistics), analysis and supervision (by the Financial Supervisory Authority of Norway). The data is included in the national accounts, financial sector accounts and the balance of payments. Other important users than Statistics Norway are Norges Bank, the Financial Supervisory Authority of Norway, Ministry of Finance, the financial services industry, researchers at universities and in international organisations, and the media.

Equal treatment of users

Not relevant

Coherence with other statistics

The statistics are based on the guidelines in the national accounts standards System of National Accounts from 1993 (SNA 1993), European System of Accounts from 1995 (ESA 1995) and the IMF Manual on Monetary and Financial Statistics.
Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

Legal authority

The main part of the data covered here is collected under the provisions of the Act on the Supervision of Credit Institutions, Insurance Companies and Securities Trading etc. (Financial Supervision Act) of 7 December 1956 no. 1 (with amendments per 1 July 2003). Reporting from The Central Bank of Norway (Norges Bank) and from state lending institutions is obtained under the provisions of the Act concerning official statistics and Statistics Norway of 16 June 1989 no. 54 (the Statistics Act).

EEA reference

Council directive 635/86 Accounting directive for banks and other credit institutions.

Council directive 2006/48/EF Supervisory directive relating to the taking up and pursuit of the business of credit institutions

Council regulation 295/2008. Council regulation 251/2009 Amendments to council regulation 295/2008.

Council regulation 2223/96 The regulation covers the European system for national and regional accounts.
Council regulation 1392/2007 Amendments to council regulation 2223/96.

Council regulation 1606/2002 Regulation on the application of international accounting standards
Council regulation 297/2008 Amendments to council regulation 1606/2002

Production

Population

The financial statistics is based on balance sheet and profit and loss account data from Norges Bank, all banks, state lending institutions, the mortgage companies and the finance companies in Norway, including foreign companies' branches in Norway. Consolidated data is also available, but is not used for national statistics purposes.

Data sources and sampling

The data is based on reconciliated accounting data from the financial institutions.

Total count.

Collection of data, editing and estimations

The Financial Supervisory Authority of Norway and Statistics Norway work together to collect the accounting data. All data is reported electronically via the official Norwegian portal Altinn. The reporting institutions receive automatic feedback on errors or possible errors in the reporting. These errors should be corrected within two days. After data processing in Statistics Norway, the reporting institutions may be asked to control, verify or correct other data not included in the automatic feedback. Corrections from the reporting institutions are received continuously.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

The accounting statistics for the financial institutions is based on current accounting regulations for financial institutions. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the financial institutions. Structural changes like new companies, mergers and spin-offs, and portfolio movements, may also lead to breaches in the time series.

International Financial Reporting Standard (IFRS)
The new accounting standard IFRS is an example of a change that has causedbreaches in the time series. From 2009 the reporting companies may report according to the IFRS standard and other entities may follow NGAAP. The IFRS standard will lead to larger fluctuations in the data because of the more extensive use of fair value in the accounting. The comparison of the reported data with the companies' official accounts is also challenging when the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standards do.

Regulation on loans
The IFRS-adapted regulation on loans was introduced 1. January 2005. It lead to a small change in the measuring of the value of loans and guaranties in the accounting data and thereby to a small breach in the time series for loans and loan loss provisions. There were also a breach in the time series on loans in 1992 due to changed accounting rules.

Changes in the presentation of the statistics
Data specifications are updated continuously. An example of changes in data series is Credit lines secured on dwellings became a new specification from January 2006 and was partly deducted from repayment loans secured on dwellings.

Structural changes
There are several mergers, spin-offs and new companies being started every year. Many of these structural changes have no significant impact on the statistics, while others lead to breaches in the time series. Major changes will be commented upon in the current statistics publication.

Portfolio movements
The introduction of IFRS, the regulation on loans and the structural changes mentioned, has lead to portfolio movements. Following the covered bonds legislation in Norway from 2008 on loan portfolios have been moved from banks to mortgage companies. This gives breaches in the time series and needs to be taken into consideration when interpreting the data.

Accuracy and reliability

Sources of error and uncertainty

Errors and discrepancies can occur in the accounting data. These discrepancies can have a number of sources:

*Errors in the reporting party's accounts

*Errors in the transfer of data from the institution's primary accounts to data reports and to recipients

*Different accounting and evaluation principles

*Different accounting dates for transactions

*Insufficient data from the reporting parties

*Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceeding publishing. Large and important revision however, will be commented upon in the publishing of Today's Statistics.

Revision

The statistics show preliminary figures. Data may be revised in future publications.