Banking and financial markets
Financial corporations, accounts, Q3 2015.

Financial corporations, accountsQ3 2015

As from 2016 the statistics is published with Banks and mortgage companies.


About the statistics


Name and topic

Name: Financial corporations, accounts
Topic: Banking and financial markets

Responsible division

Division for Financial Markets Statistics

Definitions of the main concepts and variables

The profit and loss account shows income and costs in the accounting period, both quarterly and yearly. The quarterly figures are presented both periodically and accumulated.

Standard classifications

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

Finance objects and real objects

Liabilities, claims and other assets in banks and financial corporations' balance sheets are divided into main groups with a view to giving 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.
Classification variables

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. From 2009 there will be major revisions in the industry classification.
Classification variables
Aggregated industry
Detailed industry

Income and cost types

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

Administrative information

Regional level

The whole country

Frequency and timeliness

The statistics is published quarterly, normally about 8 weeks after the end of the quarter.

International reporting

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


Not relevant


Background and purpose

The reporting procedure is made in collaboration between the Financial Supervisory Authority of Norway, Norges Bank and Statistics Norway, subsequently referred to as the authorities. 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 statistics for credit indicators and monetary growth. The reporting is the main base for 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 also used for international reporting to the BIS, Eurostat, the IMF and the OECD etc.
The statistics production was transferred from Norges Bank to 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 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.

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 58/97 The regulation specifies separate appendices for insurance, banks and other mortgage companies, as well as pension funds as part of the regulation on structured statistics for commercial corporations. The objective is to establish a common framework for the collection, processing and procurement of statistics with regard to structure, the competitive situation and efficiency.

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



The financial statistics is based on balance sheet and profit and loss account data from Norges Bank, banks, state lending institutions, mortgage companies and 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 accounting data from 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. The data is submitted either via data processing centres or individually. All data is reported via the electronic input data system Orbof-Inn . The system consists of three main components, a client program with the reporting party, an administration program and a server that receives data from the reporting parties. The accounting data are validated and encrypted before being sent via e-mail to Statistics Norway.

The control and revision of accounting data are undertaken by Statistics Norway and the Financial Supervisory Authority of Norway. A range of controls are carried out on the accounting data and receipts with the results are automatically sent to the reporting parties via e-mail in the input data system. Consistency controls and controls against other sources are also carried out.


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, with portfolio movements as one consequence, 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 will cause breaches in the time series in the periods to come. In 2009/2010 all reporting companies must, in one way or another, report according to the IFRS standard, and data may then be fully comparable again. However, 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 because the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standard does.

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
Credit lines secured on dwellings became a new specification from January 2006. As a consequence the numbers for repayment loans secured on dwellings and credit lines, working capital facility and consumer credit were reduced.

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 leads to major breaches in the time series. When the latter is the case, it will be commented upon in this section.

Portfolio movements
The introduction of IFRS, the regulation on loans and the structural changes mentioned, has lead to portfolio movements especially between banks and 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 institutions' accounts

*Errors in the transfer of data from the institution's primary accounts 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.