Financial corporations, balance sheet, December 2010

As from 1 January 2009, the yearly savings amount was raised from NOK 15 000 to NOK 20 000, and the total savings amount was raised from NOK 100 000 to NOK 150 000. The revised regulations for BSU deposits were probably an important factor in the unprecedented levels of twelve-month growth rates in 2009, which varied from 11.6 to 18.7 per cent. However, the high growth rates have continued throughout 2010 as well, varying from 16.2 to 18.3 per cent.

At end-December 2010, BSU deposits in Norwegian banks amounted to almost NOK 20 billion. This is an increase of NOK 2.8 billion, or 16.2 per cent compared to end-December 2009. From November 2010 to December 2010, BSU deposits increased by close to NOK 1.5 billion, or 8.1 per cent. The increase is in line with the seasonal pattern of these types of deposits, which is influenced by the fact that investments in BSU give rights to a tax deduction of up to NOK 4 000, and adaptations to tax rules often take place late in the year. However, the monthly increase from November to December 2010 was larger than previous years. By comparison, the equivalent monthly increase in 2007, 2008 and 2009 was NOK 1, 1.3 and 1.4 billion respectively.