Securities

Updated: 22 February 2024

Next update: 23 May 2024

Changes in stocks of listed shares
Changes in stocks of listed shares
3rd quarter 2023 - 4th quarter 2023
0.0
%
Stocks of securities registered with Verdipapirsentralen by type of security. NOK billion and per cent
Stocks of securities registered with Verdipapirsentralen by type of security. NOK billion and per cent
4th quarter 20223rd quarter 20234th quarter 2023Changes in per cent
3rd quarter 2023 - 4th quarter 20234th quarter 2022 - 4th quarter 2023
Stocks (market value)
Shares (listed)3 8643 9133 9140.01.3
Equity certificates1011051115.69.5
Long-term debt securities2 6762 7992 8843.07.8
Short-term debt securities150143142-0.8-5.3
Total6 7916 9607 0511.33.8
Explanation of symbols

Selected tables and charts from this statistics

  • Stocks of securities registered with Verdipapirsentralen, by holding sector and type of security. Market value. NOK million
    Stocks of securities registered with Verdipapirsentralen, by holding sector and type of security. Market value. NOK million
    4th quarter 2023
    Shares (listed)Equity certificatesLong-term debt securitiesShort-term debt securities
    Total3 914 286110 7472 883 810141 936
    Non-financial corporations566 05216 78364 60040 229
    Public unincorporated enterprises, owned by central government0000
    Public incorporated enterprises, owned by central government23 325516 77635 140
    Public unincorporated enterprises, owned by local government50520
    Public incorporated enterprises, owned by local government77212510 5454 871
    Private non-financial incorporated enterprises539 35616 56834 390218
    Private non-financial unincorporated enterprises611610
    Private non-profit institutions serving enterprises2 534682 8350
    Financial corporations379 09822 3821 764 28572 698
    Norges Bank7000
    Banks17 6552 686746 74613 891
    Mortgage companies0695 2696 946
    Finance companies00250
    State lending institutions etc.0000
    Financial holding companies1 88435 4470
    Mutual funds220 13211 557364 79328 727
    Alternative investment funds (AIF) excluding mutal funds4 5523691 274..
    Other financial enterprises, except insurance companies and pension funds106 0653 4328 8607 073
    Life insurance companies and pension funds27 8884 016478 48312 147
    Non-life insurance companies91531563 3883 913
    General government1 143 647238150 72113 370
    Central government1 143 3753142 33813 366
    Local government2712358 3834
    Non-profit institutions serving households46 17939 7196 647682
    Households166 11617 9098 85885
    Unincorporated enterprises within households20120
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
    Employees, recipients of property income, pensions and social contributions, students etc.166 09617 9088 85685
    Rest of the world1 613 04313 692888 69714 871
    Unspecified sector1522430
    Explanation of symbols
  • Net purchases of securities registered with Verdipapirsentralen, by purchasing sector and type of security. Market value. NOK million
    Net purchases of securities registered with Verdipapirsentralen, by purchasing sector and type of security. Market value. NOK million
    4th quarter 2023
    Shares (listed)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
    Total85560 380-1 237
    Non-financial corporations10 3174164 5808 726
    Public unincorporated enterprises, owned by central government0000
    Public incorporated enterprises, owned by central government5 727..4 6697 719
    Public unincorporated enterprises, owned by local government00140
    Public incorporated enterprises, owned by local government40-1511 203
    Private non-financial incorporated enterprises4 531417-114-195
    Private non-financial unincorporated enterprises-10000
    Private non-profit institutions serving enterprises29-1-400
    Financial corporations-3 93973047 979-5 718
    Norges Bank0000
    Banks-1 28225625 366-7 725
    Mortgage companies0..-2 385-703
    Finance companies00100
    State lending institutions etc.0000
    Financial holding companies744..-6970
    Mutual funds-2 37719816 1184 713
    Alternative investment funds (AIF) excluding mutal funds-620351300
    Other financial enterprises, except insurance companies and pension funds-71292-3 038-40
    Life insurance companies and pension funds26215010 062-2 311
    Non-life insurance companies47-12 412348
    General government2 26902 655-2 334
    Central government2 294..2 506-2 326
    Local government-260150-8
    Non-profit institutions serving households489-2 941145-41
    Households-743131350
    Unincorporated enterprises within households-1000
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0..00
    Employees, recipients of property income, pensions and social contributions, students etc.-743131360
    Rest of the world-8 9741 4864 892-1 870
    Unspecified sector-22-60
    Explanation of symbols
  • Paid out dividends on listed shares registered with Verdipapirsentralen, by paying sector. NOK million
    Paid out dividends on listed shares registered with Verdipapirsentralen, by paying sector. NOK million
    1st quarter 20232nd quarter 20233rd quarter 20234th quarter 2023
    Total46 918123 79443 45954 545
    Non-financial corporations38 77692 92839 27048 493
    Public unincorporated enterprises, owned by central government0000
    Public incorporated enterprises, owned by central government28 13138 20427 96735 202
    Public unincorporated enterprises, owned by local government0000
    Public incorporated enterprises, owned by local government0000
    Private non-financial incorporated enterprises10 64554 72411 30313 291
    Private non-financial unincorporated enterprises0000
    Private non-profit institutions serving enterprises0000
    Financial corporations4 61923 7071651 882
    Norges Bank0000
    Banks..21 498....
    Mortgage companies0000
    Finance companies0000
    State lending institutions etc.0000
    Financial holding companies..1 715....
    Mutual funds0000
    Alternative investment funds (AIF) excluding mutal funds0000
    Other financial enterprises, except insurance companies and pension funds..329..1 882
    Life insurance companies and pension funds0000
    Non-life insurance companies4 619165165..
    General government0000
    Central government0000
    Local government0000
    Non-profit institutions serving households0000
    Households0000
    Unincorporated enterprises within households0000
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
    Employees, recipients of property income, pensions and social contributions, students etc.0000
    Rest of the world3 5237 1594 0254 170
    Explanation of symbols
  • Paid out dividends on listed shares registered with Verdipapirsentralen, by receiving sector. NOK million
    Paid out dividends on listed shares registered with Verdipapirsentralen, by receiving sector. NOK million
    1st quarter 20232nd quarter 20233rd quarter 20234th quarter 2023
    Total46 918123 79443 45954 545
    Non-financial corporations2 89212 5173 4274 759
    Public unincorporated enterprises, owned by central government0000
    Public incorporated enterprises, owned by central government..61....
    Public unincorporated enterprises, owned by local government........
    Public incorporated enterprises, owned by local government..12....
    Private non-financial incorporated enterprises2 87612 3603 4084 729
    Private non-financial unincorporated enterprises121..
    Private non-profit institutions serving enterprises15811830
    Financial corporations5 0929 7372 1703 440
    Norges Bank........
    Banks7225154637
    Mortgage companies0000
    Finance companies0000
    State lending institutions etc...000
    Financial holding companies........
    Mutual funds1 4807 5301 6062 204
    Alternative investment funds (AIF) excluding mutal funds391533851
    Other financial enterprises, except insurance companies and pension funds3 302928276287
    Life insurance companies and pension funds195849193256
    Non-life insurance companies42636
    General government20 75446 88720 54625 224
    Central government20 75246 87620 54425 223
    Local government11112
    Non-profit institutions serving households312 4884846
    Households1 5685 1041 5882 131
    Unincorporated enterprises within households........
    Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
    Employees, recipients of property income, pensions and social contributions, students etc.1 5685 1041 5872 131
    Rest of the world16 50747 02415 64418 914
    Unspecified sector75363731
    Explanation of symbols
  • Issues of debt securities, by issuing sectors. Face values in NOK million
    Issues of debt securities, by issuing sectors. Face values in NOK million
    4th quarter 20221st quarter 20232nd quarter 20233rd quarter 20234th quarter 2023
    Debt securities issued in Norway
    Long-term debt securities issued in Norway157 771232 919161 802165 981207 468
    - domestic issuers124 598198 247124 062125 409174 436
    Short-term debt securities issued in Norway76 80989 44583 27083 69171 089
    - domestic issuers76 79489 13783 25383 67471 089
    Debt securities issued by Norwegian entities abroad
    Long-term debt securities issued abroad68 32961 35370 04945 18997 575
    Sertifikater emittert i utlandet416 558352 894316 348344 547512 976
    Non-financial corporations
    Long-term debt securities issued in Norway14 21935 88520 64323 39618 452
    Long-term debt securities issued abroad5 9973 01434 936033 560
    Short-term debt securities issued in Norway9 29213 20410 38213 86310 763
    Short-term debt securities issued abroad92 18367 04060 82985 817129 365
    Financial corporations
    Long-term debt securities issued in Norway88 998104 15281 54774 821125 301
    Long-term debt securities issued abroad62 33258 34035 11345 18864 013
    Short-term debt securities issued in Norway1 2501 8759501 3702 480
    Short-term debt securities issued abroad324 375285 854255 518258 730383 611
    General government
    Long-term debt securities issued in Norway21 38158 21121 87023 19130 683
    Long-term debt securities issued abroad00000
    Short-term debt securities issued in Norway66 25274 05871 92268 44157 846
    Short-term debt securities issued abroad00000
    Rest of the world
    Long-term debt securities issued in Norway33 17234 67237 74040 57233 031
    Short-term debt securities issued in Norway1430816170
    Explanation of symbols
  • Debt securities, by issuing sectors. Outstanding amounts. Face values in NOK million
    Debt securities, by issuing sectors. Outstanding amounts. Face values in NOK million
    4th quarter 20221st quarter 20232nd quarter 20233rd quarter 20234th quarter 2023
    Debt securities issued in Norway
    Long-term debt securities issued in Norway2 729 9562 847 0532 824 6102 874 5422 933 156
    - domestic issuers2 287 0822 372 4222 344 8042 394 9372 447 931
    Stort-term debt securities issued in Norway150 782148 526141 362144 157142 955
    - domestic issuers150 782148 204141 015144 151142 949
    Debt securities issued by Norwegian entities abroad
    Long-term debt securities issued abroad1 978 0322 083 0662 096 0432 038 2542 026 639
    Stort-term debt securities issued abroad279 948278 636300 150304 150465 098
    Non-financial corporations
    Long-term debt securities issued in Norway414 375431 445425 711426 409423 848
    Long-term debt securities issued abroad465 834505 614535 624511 485532 714
    Stort-term debt securities issued in Norway14 31013 93510 58516 12415 201
    Stort-term debt securities issued abroad2 62514 80026 66824419 600
    Financial corporations
    Long-term debt securities issued in Norway1 154 3961 214 0861 236 6881 269 2171 305 833
    Long-term debt securities issued abroad1 512 1981 577 4521 560 4181 526 7681 493 926
    Stort-term debt securities issued in Norway1 8503 1752 9753 0203 520
    Stort-term debt securities issued abroad277 322263 836273 482303 907445 498
    Central government
    Long-term debt securities issued in Norway718 312726 890682 405695 311714 251
    Long-term debt securities issued abroad00000
    Stort-term debt securities issued in Norway134 622131 095127 455125 008124 229
    Stort-term debt securities issued abroad00000
    Rest of the world
    Long-term debt securities issued in Norway442 874474 631479 806479 605485 225
    Stort-term debt securities issued in Norway032234855
    Explanation of symbols
  • Debt securities. Issues, redemptions, gross changes and outstanding amounts, by issuing sector. Face values in NOK million
    Debt securities. Issues, redemptions, gross changes and outstanding amounts, by issuing sector. Face values in NOK million
    4th quarter 2023
    Opening balanceIssues (face value) (NOK million)Redemptions (NOK million)Changes in sector classification and exchange rates (NOK million)Closing balance
    Debt securities issued in Norway and by Norwegian entities abroad5 361 103889 105-655 260-26 3175 567 850
    - Norwegian entitites4 881 492856 076-629 200-24 9695 082 617
    Debt securities issued in Norway3 018 699278 557-219 340-1 8053 076 111
    - Norwegian entitites2 539 088245 525-193 282-4512 590 880
    Non-financial corporations
    Long-term debt securities issued in Norway426 40918 452-18 352-2 661423 848
    Long-term debt securities issued abroad511 48533 560-3 343-8 988532 714
    Short-term debt securities issued in Norway16 12410 763-11 686015 201
    Short-term debt securities issued abroad244129 365-108 893-1 11619 600
    Financial corporations
    Long-term debt securities issued in Norway1 269 217125 301-90 8952 2101 305 833
    Long-term debt securities issued abroad1 526 76864 013-93 650-2 4241 493 926
    Short-term debt securities issued in Norway3 0202 480-1 98003 520
    Short-term debt securities issued abroad303 907383 611-230 034-11 986445 498
    Central government
    Long-term debt securities issued in Norway695 31130 683-11 7441714 251
    Long-term debt securities issued abroad00000
    Short-term debt securities issued in Norway125 00857 846-58 6250124 229
    Short-term debt securities issued abroad00000
    Rest of the world
    Long-term debt securities issued in Norway479 60533 031-26 058-1 353485 225
    Short-term debt securities issued in Norway50005
    Explanation of symbols
  • Debt securities issued in Norway, by borrowing sectors and remaining maturity. Outstanding amounts at face value (NOK million)
    Debt securities issued in Norway, by borrowing sectors and remaining maturity. Outstanding amounts at face value (NOK million)
    <= 1 year> 1 year <= 2 years> 2 years <= 5 years> 5 years <= 10 years> 10 years <= 20 years> 20 yearsTotal
    Original maturity
    Outstanding amounts in total from debt securities issued in Norway122 29529 7461 080 5331 082 111655 449105 9703 076 104
    Non-financial corporations15 2651 575171 042184 82456 5729 771439 049
    Banks2 2642 935145 892169 86734 47334 660389 527
    Other financial corporations1 1502 000413 414424 10955 70223 451919 826
    Central government and social security funds42 52718 00017 18058 770448 50320 750605 730
    Local government61 6545 16276 22363 35126 120240232 750
    Non-profit institutions serving households
    Households
    Rest of the world075256 782181 19034 07913 098485 224
    Remaining maturity
    Outstanding amounts in total from debt securities issued in Norway542 983573 2981 347 530481 17851 55879 5583 076 105
    Non-financial corporations68 46086 800206 66869 2791 4216 421439 049
    Banks59 09468 519174 19850 9532 11034 652389 526
    Other financial corporations115 042211 607509 44749 56912 31021 851919 826
    Central government and social security funds127 55266 917158 028232 48320 750.605 730
    Local government100 97940 60254 59632 2244 350.232 751
    Non-profit institutions serving households00....0
    Households00....0
    Rest of the world71 85798 852244 59446 67110 61812 633485 225
    Explanation of symbols
  • Outstanding amounts from debt securities issued abroad by domestic borrowing sectors and maturity. Outstanding amounts at face value in NOK million.
    Outstanding amounts from debt securities issued abroad by domestic borrowing sectors and maturity. Outstanding amounts at face value in NOK million.
    <= 1 year> 1 year <= 2 years> 2 years <= 5 years> 5 years <= 10 years> 10 years <= 20 years> 20 yearsTotal
    Original maturity
    Outstanding amounts in total from debt securities issued by Norwegian entities abroad465 09817 306543 422878 832394 058193 0212 491 737
    Non-financial corporations19 600035 378190 173191 642214 106552 311
    Banks408 32816 102199 081149 66517 09512 730803 001
    Other financial corporations37 1701 203308 963538 994185 32164 7711 136 422
    Remaining maturity
    Outstanding amounts in total from debt securities issued by Norwegian entities abroad744 390299 838863 264401 820127 85554 5702 491 737
    Non-financial corporations49 95450 823153 785190 68975 38331 677552 311
    Banks507 41169 512203 3519 49310 1523 082803 001
    Other financial corporations187 025179 503506 128201 63742 31919 8111 149 528
    Explanation of symbols

About the statistics

The securities statistics provide a current overview of the issue and ownership of securities registered in VPS as well as Norwegian entities' debt securities abroad. Parts of the data basis are also input to the national accounts, balance of payments, financial sector accounts and credit indicators.

Euronext VPS (Verdipapirsentralen) is the only central securities depository in Norway and handles the settlement of transactions in securities and the registration of ownership rights over securities.

Types of securities:

Listed shares entails shares listed for trade at the Oslo Stock Exchange (OSE), Euronext Expand or Euronext Growth.

Unlisted shares entails shares not listed for trade at an exchange, do not have a listed market price, and are therefore usually less liquid.

Equity certificates are special kind of equity instrument issued by savings banks and mutual insurance companies. Equity certificates are very similar to shares, but differ with regards to ownership rights and influence in the company.

Long-term debt securities are debt securities with a duration longer than one year that can be divided between several lenders as standardized partial long-term debt securities without the borrower's approval. A long-term debt security is a negotiable financial instrument.

Short-term debt securities are debt securities with duration less than one year.

An issue is the opening of a new loan.

The issuer is the institutional owner who raised the loan and registers it in his balance sheet (the original borrower). The institutional owner is not always an individual legal entity.

The borrower is the institution registering the loan in his balance sheet. This institution may differ from the issuing institution as a result of mergers, demergers, bankruptcies etc.

Valuation:

The market values of the stocks of securities in Norway are determined by available prices. For listed securities, they will mainly be market prices from the Oslo Stock Exchange and Euronext. For unlisted securities, the latest available prices from transactions, annual assessment rates from tax purposes or nominal prices are chosen in a preferred order. From the 4th quarter of 2006, observed transaction rates are used to estimate market values of non-listed securities.

Transaction prices are based upon information about actual payments registered in the VPS, or calculated amounts if no actual payments are available. Where no actual payments are specified, market prices from OSE are used for individual trading dates in order to determine traded amounts for transactions. From the 4th quarter of 2006 observed transaction rates are used to estimate transaction values for non-listed securities

Dividends/coupon payments are actual paid out amounts during a period.

Sector and industry categorization information is based on what is registered at the Coordinating Register for Legal Entities Enterprises. This classification is based on international requirements in SNA2008 (System of National Accounts)/ ESA2010 (European System of Accounts) and NACE Rev.2 (European Classification of Economic Activities).

ISIN is an abbreviation for International Securities Identification Number and is a code that uniquely identifies a specific security. It is assigned by the Norwegian Central Securities Depository and based on the international standard ISO 6166:2001.

CFI is an abbreviation for Classification of Financial Instruments and is based on the international standard ISO 10962:2001. The Norwegian Central Securities Depository is responsible for the assignment of CFI codes.

Name: Securities
Topic: Banking and financial markets

23 May 2024

Division for Financial Markets Statistics

National level, no regional divisions.

Quarterly. Normally published 6-7 weeks after the end of the statistics quarter

BIS - Bank for International Settlements

Time series are stored in a database solution.

The statistics consists of data from the previously published statistics, “Debt securities” and “ Securities registered with the Norwegian Central Securities Depository” , published as " Securities "as of Q1 2016. "Securities"' data series go back to Q4 2014,while older data series can be found by use of the statistics "Debt Securities" and "Securities registered within The Norwegian Central Securities Depository".

The purpose of the statistics is to provide a current overview of the issue and ownership of securities registered in VPS as well as Norwegian entities' debt securities abroad. Parts of the data basis are also input to the national accounts, balance of payments, financial sector accounts and credit indicators.

Figures for outstanding amounts of long-term debt securities are available back to 1899. Figures for issues of long-term debt securities are available back to 1914. Historical figures on nominal yields are available back to 1900.Figures for short-term debt securities are available back to 1985. Figures for issues outside Norway by residents are available back to 1988.

Details of figures on numbers of issues of debt securities in Norway are available from 1998, while details of figures on numbers of issues abroad are available from 2001.

Major users, in addition to Statistics Norway, are users representing the securities market, public authorities and research institutes.

No external users have access to the statistics before they are published and accessible simultaneously for all users on ssb.no. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar

The statistics is adjusted in accordance with the national accounts recommendations.

The Statistics Act § 10

Council regulation 2223/96

The statistics consists of data from the previously published statistics, “Debt securities” and “ Securities registered with the Norwegian Central Securities Depository”, published as " Securities "as of Q1 2016. The statistics presents stock and transaction data in face values as well as market values for the following types of securities registered in VPS:

  • All shares issued by public limited companies (PLC) and a share of private limited companies. Also included are a part of or the whole share capital of foreign registered Companies.
  • Equity certificates, including all equity certificates listed on the Oslo Stock Exchange.
  • Bonds, including all bonds of short- or long maturity issued in Norway in NOK or foreign currency. Bonds in foreign currency are included in the statistics from the 4th quarter of 2006.
  • Short-term debt securities issued in Norway in NOK or foreign currency, including treasury bills issued by the Norwegian state since July 2000. Short-term debt securities in foreign currency are included in the statistics from the 4th quarter of 2006.

In addition, the statistics have information about issues and outstanding amounts in nominal values from debt securities issued by Norwegian entities abroad.

For all debt securities issued in Norway and abroad, the statistics also have information about numbers of issues and the link between outstanding amounts, issues, redemptions and changes in outstanding amounts caused by changes in sector classification and exchange rates in nominal values. From 2013, debt securities that have been converted into shares or other types of loans are included as "Changes in sector classification and exchange rates".

Full sample. Information from The Norwegian Central Securities Depository (VPS), Oslo Stock Exchange (OSE), Norwegian Trustee and forms (RA-0622) contending details from issues sent to Statistics Norway.

Extracts of primary data from securities in Norway are received monthly from the Norwegian Central Securities Depository (VPS). Market values and transaction information are received currently from Euronext and VPS. Exchange rate information is received by the Norges Bank. Data from debt securities issued by Norwegian entities abroad are sent by issuers to Statistics Norway every month by use of a form (RA-0622).

Data is controlled at an individual security level (ISIN level) against previous reported periods. The development in the value of listed shares and bonds is revised against data published by OSE and VPS. Figures for outstanding debts are co-ordinated with the accounting statistics. Details of debt securities issued by residents abroad are also controlled against data reported to the BIS and other national and international registers.

Data series are revised on an ongoing basis and published together with data for the new statistical period.

Not relevant

Statistics Norway's standard confidentiality rules apply.

All "Securities"' data series go back to Q4 2014,while older data series can be found by use of the statistics "Debt Securities" and "Securities registered within The Norwegian Central Securities Depository".

Changes in legislation, changes in regulations for registration requirements in the VPS, and the introduction of new classification standards may lead to interrupted time series.

2006: Adjustment in securities statistics:

An change in the statistics to a more detailed reporting in the 4th quarter of 2006, means that the sector and industry categorization is based on information from the Central Coordinating Register for Legal Entities Enterprises, and no longer from the Central Security Depository (VPS) itself. This caused some changes in the ownership of some securities. The sectors “Other financial corporations” and “Other non-financial corporations” and “Local government and municipal enterprises” were significantly affected by this change.

Further, the adjustment in the statistics lead to more use of observed prices from transactions for calculation of market values of securities, which particularly improved the estimation in value of unlisted shares. Calculations showed that the total value of unlisted shares registered with the VPS increased by NOK 107 billion (64 per cent) as a consequence of changed method of calculation.

The adjustment of the securities statistics also meant that bonds issued in foreign currency was included in the statistics. This lead to a NOK 20 billion increase in the market value of the stocks of bonds.

Changes in the periodic distribution of issues and outstanding amounts of debt securities from 2007:

In publications up to 2007 and the statistics bank, the periodic distribution of issues and outstanding amounts of debt securities up to 2007 is based on information about the date of the loan's approvement. This date can deviate from the date of which an issue actually took place. The periodic deviation may cause marginal errors for total amounts, but errors may be more obvious at sector level. The periodic distribution of issues and outstanding amounts of debt securities in 2007 - 2011 is based on a combination of information about the date of the loan's approvement and issue dates. The periodic distribution of issues and outstanding amounts of debt securities from 2011 is based on details of actual issue dates whereby the distribution of issues and outstanding amounts for periods should be correct.

2012: New standard for sector classification was introduced.

A new institutional sector classification was introduced from January 2012. One of the most significant changes is that the demarcation between financial – and non-financial sector was shifted so that financial sector increased in size. In addition, some new financial sectors were introduced such as “investment trusts and private equity funds” and “financial holding companies”.

The introduction of the new sector classification leads to a break in the statistics. The new tables will contain data from the first quarter of 2012 and onwards. The older tables will not be updated with new time series.

2012: New divide between listed - and unlisted shares

From 2012 and onwards, the statistics the distinguishes between listed - and unlisted registered with the VPS. Listed shares entails shares registered for trade at the Oslo Stock Exchange or Oslo Axess.

From 2013, debt securities that have been converted into shares or other types of loans are included as "Changes in sector classification and exchange rates".

Updated information about debt securities:

Time series breaks may exist due to access to new information, alterations in the legal framework and in the registration rules of the Norwegian Central Securities Depository.

The tables are updated with figures for these new data from 2012.

2020: New divide between listed - and unlisted shares

From 2020 listed shares entails shares registered for trade at the Oslo Stock Exchange, Euronext Expand or Euronext Growth.

To the degree that the fixed delivery from VPS contains errors or defects, this could affect the statistics. Processing and control routines have been established in order to detect and correct such errors and defects.

In cases where an owner of a security is registered on a nominee account of a financial enterprise, and in cases where different types lending of securities occur, others than the genuine owners will be registered in the VPS register. This can to some extent cause the application of sectors to owners of holdings and transactions to be imperfect.

In publications up to 2007 and the statistics bank, the periodic distribution of issues and outstanding amounts of debt securities up to 2007 is based on information about the date of the loan's approvement. This date can deviate from the date of which an issue actually took place. The periodic deviation may cause marginal errors for total amounts, but errors may be more obvious at sector level. The periodic distribution of issues and outstanding amounts of debt securities in 2007 - 2011 is based on a combination of information about the date of the loan's approvement and issue dates. The periodic distribution of issues and outstanding amounts of debt securities from 2011 is based on details of actual issue dates whereby the distribution of issues and outstanding amounts for periods should be correct.

The statistics on issues by Norwegian residents outside Norway is based on data reported to Norges Bank from the issuers. Unless all the issues are reported, the statistics will contain non-response errors. Due to non-response errors which have been discovered, figures for Norwegian entities' issues abroad were corrected in statistics published in Q3 and Q4 2013, Q3 2015 and Q1 2016.

Data may be revised in future publications.

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