369894
/en/bank-og-finansmarked/statistikker/verdipapirer/kvartal
369894
statistikk
2019-05-22T08:00:00.000Z
Banking and financial markets
en
verdipapirer, SecuritiesSecurities markets , Banking and financial markets
true

Securities

Updated

Next update

Key figures

8.2 %

Changes in stocks of listed shares 

Stocks of securities registered with VPS by type of security. NOK billion and per cent
1st quarter 20184th quarter 20181st quarter 2019Changes in per cent
4th quarter 2018 - 1st quarter 20191st quarter 2018 - 1st quarter 2019
Stocks (market value)
Shares (listed)2 4992 4072 6048.24.2
Shares (unlisted)4344594692.38.0
Equity certificates5456571.95.8
Long-term debt securities2 0132 0722 1393.26.3
Short-term debt securities1571441440.0-8.1
 
Total5 1565 1385 4125.45.0

See selected tables from this statistics

Table 1 
Stocks of securities registered with the VPS, by holding sector and type of security. Last quarter. Market value. NOK million

Stocks of securities registered with the VPS, by holding sector and type of security. Last quarter. Market value. NOK million
1st quarter 2019
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securitiesShort-term debt securities
 
Total2 603 522469 11257 2872 138 696143 881
 
Non-financial corporations343 455245 3797 62341 25019 608
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government6 06284203 70716 327
Public unincorporated enterprises, owned by local government100100
Public incorporated enterprises, owned by local government1 21185210613 556919
Private non-financial incorporated enterprises334 317243 1367 45520 2342 362
Private non-financial unincorporated enterprises1121107980
Private non-profit institutions serving enterprises1 752438553 6450
 
Financial corporations254 413134 42511 4251 361 98984 868
Norges Bank00000
Banks6 68739 8291 340513 88027 711
Mortgage companies04672 6635 331
Finance companies000280
State lending institutions etc.2071 223000
Financial holding companies2 61840 95624 68030
Mutual funds141 1401 6215 396295 46523 107
Investment trusts and private equity funds5 5094 8272291 0910
Other financial enterprises, except insurance companies and pension funds74 49841 9302 9014 7463 524
Life insurance companies and pension funds21 6973 8721 348405 04519 401
Non-life insurance companies2 05616420364 3915 763
 
General government852 4611 923178110 27227 064
Central government851 9981 1892100 20027 052
Local government46373417610 07212
 
Non-profit institutions serving households32 6121 76019 5927 134642
 
Households96 74323 42010 2958 78137
Unincorporated enterprises within households1960270
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.00000
Employees, recipients of property income, pensions and social contributions, students etc.96 72423 36010 2938 77437
 
Rest of the world1 023 68962 1128 151609 25711 663
 
Unspecified sector1499323130

Table 2 
Net purchases of securities registered with the VPS, by purchasing sector and type of security. Latest quarter. Market value. NOK million

Net purchases of securities registered with the VPS, by purchasing sector and type of security. Latest quarter. Market value. NOK million
1st quarter 2019
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
 
Total6 248-1 4103965 280598
 
Non-financial corporations869-1 432-27-2 937926
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government-475-260-272-429
Public unincorporated enterprises, owned by local government....0100
Public incorporated enterprises, owned by local government-90..-2 181751
Private non-financial incorporated enterprises1 307-1 406-14-478604
Private non-financial unincorporated enterprises43-1-1-40
Private non-profit institutions serving enterprises30-13-120
 
Financial corporations-7443-4446 5592 719
Norges Bank0..000
Banks1 2146 198450 7276 993
Mortgage companies0....-11 631-3 401
Finance companies000170
State lending institutions etc...6000
Financial holding companies1 005-1 358..526-20
Mutual funds-49844296 090-638
Investment trusts and private equity funds-252-481400
Other financial enterprises, except insurance companies and pension funds-488-191-29133-112
Life insurance companies and pension funds-83913-55-2 201-674
Non-life insurance companies-148-4 221-62 900572
 
General government2 969864645-3 658
Central government2 96785..651-3 658
Local government214-60
 
Non-profit institutions serving households-294-7-1073
 
Households2 243-42339-2129
Unincorporated enterprises within households20010
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0....00
Employees, recipients of property income, pensions and social contributions, students etc.2 241-42339-2229
 
Rest of the world201-887421 143578
 
Unspecified sector100-30

Table 3 
Paid out dividends on listed shares registered with the VPS, by paying sector. NOK million

Paid out dividends on listed shares registered with the VPS, by paying sector. NOK million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
 
Total56 1599 95323 04210 446
 
Non-financial corporations35 9259 86022 88410 405
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government13 3276 42919 0726 604
Public unincorporated enterprises, owned by local government0000
Public incorporated enterprises, owned by local government270....0
Private non-financial incorporated enterprises22 3283 4313 8123 801
Private non-financial unincorporated enterprises0000
Private non-profit institutions serving enterprises0000
 
Financial corporations17 794......
Norges Bank0000
Banks1 268......
Mortgage companies0000
Finance companies0000
State lending institutions etc.0000
Financial holding companies12 620......
Mutual funds0000
Investment trusts and private equity funds........
Other financial enterprises, except insurance companies and pension funds357......
Life insurance companies and pension funds0000
Non-life insurance companies3 550......
 
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 world2 4409215841

Table 4 
Paid out dividends on listed shares registered with the VPS, by receiving sector. NOK million

Paid out dividends on listed shares registered with the VPS, by receiving sector. NOK million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
 
Total56 1599 95323 04210 446
 
Non-financial corporations8 3268511 152964
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government60......
Public unincorporated enterprises, owned by local government........
Public incorporated enterprises, owned by local government1......
Private non-financial incorporated enterprises8 2308471 141959
Private non-financial unincorporated enterprises2......
Private non-profit institutions serving enterprises324105
Financial corporations6 6135311 198499
Norges Bank0000
Banks129388517
Mortgage companies0000
Finance companies0000
State lending institutions etc.........
Financial holding companies2......
Mutual funds3 000362836381
Investment trusts and private equity funds1181084
Other financial enterprises, except insurance companies and pension funds2 7905712037
Life insurance companies and pension funds5215813756
Non-life insurance companies525114
General government16 7564 70612 1974 865
Central government16 7444 70612 1954 864
Local government12..2..
Non-profit institutions serving households1 4046167
Households2 152277574303
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.2 152277574303
Rest of the world20 8063 5507 7493 796
Unspecified sector1023215612

Table 5 
Issues of debt securities, by issuing sectors. Face values in NOK million

Issues of debt securities, by issuing sectors. Face values in NOK million
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Debt securities issued in Norway
Long-term debt securities issued in Norway126 080146 47775 217103 449154 769
- domestic issuers98 927123 46958 19589 942122 400
Short-term debt securities issued in Norway71 03767 97664 19368 16370 462
- domestic issuers70 58767 87664 09365 76969 442
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad116 39370 62052 92050 791114 937
Sertifikater emittert i utlandet330 375196 433167 082133 121256 303
 
Non-financial corporations
Long-term debt securities issued in Norway22 70123 7244 81514 2108 531
Long-term debt securities issued abroad8 7268 1698 3861 3846 713
Short-term debt securities issued in Norway7 0759 4338 0069 25910 043
Short-term debt securities issued abroad43 97487 64653 82353 41633 959
 
Financial corporations
Long-term debt securities issued in Norway57 22167 91242 56558 40176 344
Long-term debt securities issued abroad107 66562 45244 53549 407108 225
Short-term debt securities issued in Norway2759105502 572375
Short-term debt securities issued abroad286 400108 788113 26079 707222 344
 
General government
Long-term debt securities issued in Norway19 00631 83310 81517 33037 524
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway63 23757 53455 53853 93959 024
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway27 15223 00817 02313 50732 368
Short-term debt securities issued in Norway4501001002 3931 020

Table 6 
Debt securities, by issuing sectors. Outstanding amounts. Face values in NOK million

Debt securities, by issuing sectors. Outstanding amounts. Face values in NOK million
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
 
Debt securities issued in Norway
Long-term debt securities issued in Norway2 001 6252 029 9232 044 5342 063 9352 126 330
domestic issuers1 720 1521 733 2711 745 0101 767 9331 810 544
Stort-term debt securities issued in Norway156 816147 838140 350144 283144 209
domestic issuers156 148147 523140 146141 653141 429
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad1 628 2611 625 7831 648 9921 739 3731 733 441
Stort-term debt securities issued abroad80 688116 763100 97978 896133 960
 
Non-financial corporations
Long-term debt securities issued in Norway311 510319 262317 838321 326321 766
Long-term debt securities issued abroad312 302305 807313 796326 458327 534
Stort-term debt securities issued in Norway15 46114 22311 82811 62712 354
Stort-term debt securities issued abroad6 66422 8663 9008 8514 933
 
Financial corporations
Long-term debt securities issued in Norway899 607905 125917 906937 543958 351
Long-term debt securities issued abroad1 315 9601 319 9781 335 1961 412 9151 405 907
Stort-term debt securities issued in Norway1 3751 3351 3603 0343 224
Stort-term debt securities issued abroad74 02493 89697 07970 045129 028
 
Central government
Long-term debt securities issued in Norway509 035508 884509 265509 065530 427
Long-term debt securities issued abroad00000
Stort-term debt securities issued in Norway139 312131 966126 959126 992125 852
Stort-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway281 473296 652299 524296 002315 786
Stort-term debt securities issued in Norway6683152042 6302 780

Table 7 
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
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 abroad4 026 488596 470-448 152-36 8644 137 942
Debt securities issued by Norwegian entitites3 727 855563 082-437 907-33 6563 819 374
Debt securities issued in Norway2 208 218225 231-159 823-3 0872 270 539
Debt securities issued by Norwegian entities in Norway1 909 586191 842-149 5791241 951 973
 
Non-financial corporations
Long-term debt securities issued in Norway321 3268 531-8 720629321 766
Long-term debt securities issued abroad326 4586 7130-5 637327 534
Short-term debt securities issued in Norway11 62710 043-9 317112 354
Short-term debt securities issued abroad8 85133 959-37 788-894 933
 
Financial corporations
Long-term debt securities issued in Norway937 54376 344-55 043-493958 351
Long-term debt securities issued abroad1 412 915108 225-87 826-27 4071 405 907
Short-term debt securities issued in Norway3 034375-175-103 224
Short-term debt securities issued abroad70 045222 344-162 713-648129 028
 
Central government
Long-term debt securities issued in Norway509 06537 524-16 1631530 427
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway126 99259 024-60 1640125 852
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway296 00232 368-9 415-3 169315 786
Short-term debt securities issued in Norway2 6301 020-828-422 780

Table 8 
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 Norway142 39412 982636 727876 321554 56947 5452 270 538
Non-financial corporations12 3543 188141 041124 00846 8216 708334 120
Banks3 0591 940171 245117 30029 51721 087344 148
Other financial corporations1653 129122 098420 01256 44515 580617 429
Central government and social security funds71 5061201 00039 200386 718.498 544
Local government52 5453 38347 91442 27811 365250157 735
Non-profit institutions serving households
Households
Rest of the world2 7671 221153 429133 52423 7043 921318 566
 
Remaining maturity
Outstanding amounts in total from debt securities issued in Norway452 704295 1791 081 611349 71949 77741 5482 270 538
Non-financial corporations59 93543 380161 46757 7928 6722 875334 121
Banks57 50269 555160 36933 8091 97520 938344 148
Other financial corporations76 459109 906336 50470 5709 71014 280617 429
Central government and social security funds125 2461 620203 800145 87822 000.498 544
Local government72 07017 11347 80119 2511 500.157 735
Non-profit institutions serving households00....0
Households00....0
Rest of the world61 49553 606171 67022 4195 9203 456318 566

Table 9 
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.
Original maturity <= 1 yearOriginal maturity > 1 year <= 2 yearsOriginal maturity > 2 years <= 5 yearsOriginal maturity > 5 years <= 10 yearsOriginal maturity > 10 years <= 20 yearsOriginal maturity > 20 yearsTotal
Original maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad134 10514 316576 610643 485350 603147 7031 866 822
Non-financial corporations4 933029 94394 222122 659161 416332 468
Banks128 1104 665136 45174 39856 02110 422410 067
Other financial corporations1 0629 651410 216474 865171 92256 5731 124 289
 
Remaining maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad378 281282 519688 665366 92291 02559 8931 867 305
Non-financial corporations42 39734 12872 267112 26142 05629 359332 468
Banks174 82169 372145 9407 7929 4743 149410 548
Other financial corporations161 063179 019470 458246 86939 49527 3851 148 776

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.

Definitions

Definitions of the main concepts and variables

Listed shares entails shares listed for trade at the Oslo Stock Exchange (OSE) or Oslo Axess.

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

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.

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 OSE. 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.

Standard classifications

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/ESA2010 and NACE Rev.2.

The securities number is the loan's unique identification. 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.

Administrative information

Name and topic

Name: Securities
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

National level, no regional divisions.

Frequency and timeliness

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

International reporting

BIS.

Microdata

Time series are stored in a database solution.

Background

Background and purpose

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.

 

Users and applications

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

Equal treatment of users

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

Coherence with other statistics

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

Legal authority

The Statistics Act § 2-2

EEA reference

Council regulation 2223/96

Production

Population

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".

Data sources and sampling

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

Collection of data, editing and estimations

Extracts of primary data from securities in Norway are received monthly from the Norwegian Central Securities Depository (VPS). Market values are received currently from Oslo Stock Exchange (OSE) and 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.

Seasonal adjustment

Not relevant

Confidentiality

Statistics Norway's standard confidentiality rules apply.

Comparability over time and space

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.

 

Accuracy and reliability

Sources of error and uncertainty

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.

Revision

Data may be revised in future publications.