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statistikk
2021-05-20T08:00:00.000Z
Banking and financial markets
en
verdipapirer, SecuritiesSecurities markets , Banking and financial markets
true

Securities

Updated

Next update

Key figures

10.4 %

changes in stocks of listed shares

Stocks of securities registered with VPS by type of security. NOK billion and per cent
1st quarter 20204th quarter 20201st quarter 2021Changes in per cent
4th quarter 2020 - 1st quarter 20211st quarter 2020 - 1st quarter 2021
Stocks (market value)
Shares (listed)2 0612 9423 24910.457.7
Shares (unlisted)4254394522.96.3
Equity certificates5672789.440.7
Long-term debt securities2 2952 4392 5233.410.0
Short-term debt securities1421301375.3-3.6
 
Total4 9786 0226 4396.929.4

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 2021
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securitiesShort-term debt securities
 
Total3 249 186452 27378 3462 523 019136 597
 
Non-financial corporations577 768252 95912 33743 23415 909
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government7 37953056 59315 756
Public unincorporated enterprises, owned by local government600480
Public incorporated enterprises, owned by local government5883588411 0570
Private non-financial incorporated enterprises565 459251 68312 17922 19773
Private non-financial unincorporated enterprises6814910990
Private non-profit institutions serving enterprises4 268239583 24080
 
Financial corporations367 196129 26914 7151 569 34680 693
Norges Bank03000
Banks10 39842 3201 245657 95834 950
Mortgage companies02286 4936 151
Finance companies000100
State lending institutions etc.9802 202000
Financial holding companies19842 00721 7480
Mutual funds183 9144738 368339 12120 246
Investment trusts and private equity funds9 9414 73444498234
Other financial enterprises, except insurance companies and pension funds131 94536 0502 6313 8193 898
Life insurance companies and pension funds27 3361 3031 807419 40213 200
Non-life insurance companies2 48317521759 8142 215
 
General government832 6452 704156155 98225 200
Central government832 2281 4333146 43325 188
Local government4161 2701539 54812
 
Non-profit institutions serving households37 7312 21126 4256 776625
 
Households146 89522 00613 8277 329257
Unincorporated enterprises within households2343210
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.00000
Employees, recipients of property income, pensions and social contributions, students etc.146 87221 96313 8257 328257
 
Rest of the world1 286 79243 09510 749740 35013 913
 
Unspecified sector1603013710

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 2021
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
 
Total44 141-1 158091 0466 887
 
Non-financial corporations14 3466 951-100-1 7691 278
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government-2392..6101 365
Public unincorporated enterprises, owned by local government0..0-40
Public incorporated enterprises, owned by local government-65830-1 7280
Private non-financial incorporated enterprises15 2426 977-99-544-36
Private non-financial unincorporated enterprises-1-20100
Private non-profit institutions serving enterprises4-29-1-112-51
 
Financial corporations-6 265-7 482-16320 785228
Norges Bank00000
Banks202504-113 261-2 575
Mortgage companies0....-6 260-111
Finance companies000..0
State lending institutions etc.653000
Financial holding companies131....1 0320
Mutual funds-3 303100-14911 283-356
Investment trusts and private equity funds-7540013-40
Other financial enterprises, except insurance companies and pension funds-2 141-8 09321 475256
Life insurance companies and pension funds-799-76-69232 884
Non-life insurance companies-286-9-9-941170
 
General government-9 725-149-324 4981 599
Central government-9 673....24 4681 599
Local government-52-149-3310
 
Non-profit institutions serving households-1-487305-20
 
Households1 363-3 38137-199..
Unincorporated enterprises within households4-50..0
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0....00
Employees, recipients of property income, pensions and social contributions, students etc.1 359-3 37637-199..
 
Rest of the world44 4522 99822647 4253 802
 
Unspecified sector-29-47-400

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 20203rd quarter 20204th quarter 20201st quarter 2021
 
Total28 18912 80725 47820 913
 
Non-financial corporations27 2636 08825 0074 493
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government15 2512 5998 6703 018
Public unincorporated enterprises, owned by local government0000
Public incorporated enterprises, owned by local government314..00
Private non-financial incorporated enterprises11 6983 48916 3371 475
Private non-financial unincorporated enterprises0000
Private non-profit institutions serving enterprises0000
 
Financial corporations1046 12522015 966
Norges Bank0000
Banks....1401 743
Mortgage companies0000
Finance companies0000
State lending institutions etc.0000
Financial holding companies......13 023
Mutual funds0000
Investment trusts and private equity funds........
Other financial enterprises, except insurance companies and pension funds104..80..
Life insurance companies and pension funds0000
Non-life insurance companies..6 125..1 200
 
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 world822594251453

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 20203rd quarter 20204th quarter 20201st quarter 2021
 
Total28 18912 80725 47820 913
 
Non-financial corporations3 2451 6873 426798
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government4720....
Public unincorporated enterprises, owned by local government........
Public incorporated enterprises, owned by local government501....
Private non-financial incorporated enterprises3 1311 6603 407785
Private non-financial unincorporated enterprises....1..
Private non-profit institutions serving enterprises1761812
Financial corporations1 9264 8762 5022 260
Norges Bank0000
Banks62325917
Mortgage companies0000
Finance companies0000
State lending institutions etc.........
Financial holding companies........
Mutual funds1 4095191 8281 135
Investment trusts and private equity funds2173293
Other financial enterprises, except insurance companies and pension funds2564 242235862
Life insurance companies and pension funds16671322143
Non-life insurance companies1252610
General government12 5442 2919 3567 657
Central government12 5402 2919 3527 653
Local government4134
Non-profit institutions serving households4610741 563
Households9697621 546845
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.9697621 546845
Rest of the world9 3423 0778 4067 770
Unspecified sector11810416820

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 20202nd quarter 20203rd quarter 20204th quarter 20201st quarter 2021
Debt securities issued in Norway
Long-term debt securities issued in Norway220 491179 249100 214138 388194 122
- domestic issuers196 233156 07781 394119 809158 774
Short-term debt securities issued in Norway74 38085 13056 98861 65975 734
- domestic issuers74 38085 09956 92461 55275 104
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad68 585131 36672 39456 32283 533
Sertifikater emittert i utlandet171 611294 240257 333266 601261 883
 
Non-financial corporations
Long-term debt securities issued in Norway18 51026 04213 42934 52137 940
Long-term debt securities issued abroad18 31796 2684 7415 4540
Short-term debt securities issued in Norway10 7078 0674 3625 7468 881
Short-term debt securities issued abroad43 78610 37559 93187 66452 195
 
Financial corporations
Long-term debt securities issued in Norway122 312101 60054 66150 30069 210
Long-term debt securities issued abroad50 26835 10067 65450 86983 533
Short-term debt securities issued in Norway8251001003711 100
Short-term debt securities issued abroad127 825283 864197 402178 937209 687
 
General government
Long-term debt securities issued in Norway55 41128 43513 30434 98851 623
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway62 84876 93252 46355 43465 123
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway24 25623 17318 81918 57635 349
Short-term debt securities issued in Norway03164107630

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 20202nd quarter 20203rd quarter 20204th quarter 20201st quarter 2021
 
Debt securities issued in Norway
Long-term debt securities issued in Norway2 308 9592 385 2692 386 5212 422 3032 508 594
domestic issuers1 950 4792 030 8952 030 7852 071 3872 146 375
Stort-term debt securities issued in Norway141 594146 260132 308129 712136 646
domestic issuers141 421146 066132 214129 572135 878
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad2 088 1962 025 6952 048 8751 904 2411 796 011
Stort-term debt securities issued abroad113 13485 871190 664169 714212 851
 
Non-financial corporations
Long-term debt securities issued in Norway342 517348 296347 557363 139380 436
Long-term debt securities issued abroad404 460481 111471 033429 821398 436
Stort-term debt securities issued in Norway12 37612 32310 5746 90612 356
Stort-term debt securities issued abroad21 62717 75831 85430 43622 363
 
Financial corporations
Long-term debt securities issued in Norway1 034 6461 084 1991 083 2631 084 5981 114 663
Long-term debt securities issued abroad1 683 7371 544 5841 577 8411 474 4201 397 576
Stort-term debt securities issued in Norway1 5451 0103104911 000
Stort-term debt securities issued abroad91 50768 113158 810139 278190 488
 
Central government
Long-term debt securities issued in Norway573 316598 401599 966623 651651 277
Long-term debt securities issued abroad00000
Stort-term debt securities issued in Norway127 500132 733121 331122 175122 522
Stort-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway358 480354 374355 736350 916362 219
Stort-term debt securities issued in Norway17319494140768

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 625 971615 271-541 645-45 4934 654 104
Debt securities issued by Norwegian entitites4 274 914579 294-519 371-43 7224 291 115
Debt securities issued in Norway2 552 015269 856-172 464-4 1672 645 240
Debt securities issued by Norwegian entities in Norway2 200 959233 878-150 190-2 3942 282 253
 
Non-financial corporations
Long-term debt securities issued in Norway363 13937 940-19 237-1 406380 436
Long-term debt securities issued abroad429 8210-30 511-874398 436
Short-term debt securities issued in Norway6 9068 881-3 431012 356
Short-term debt securities issued abroad30 43652 195-59 436-83222 363
 
Financial corporations
Long-term debt securities issued in Norway1 084 59869 210-38 161-9841 114 663
Long-term debt securities issued abroad1 474 42083 533-110 556-49 8211 397 576
Short-term debt securities issued in Norway4911 100-587-41 000
Short-term debt securities issued abroad139 278209 687-168 67910 202190 488
 
Central government
Long-term debt securities issued in Norway623 65151 623-23 9981651 277
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway122 17565 123-64 7760122 522
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway350 91635 349-22 273-1 773362 219
Short-term debt securities issued in Norway1406300-2768

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 Norway136 55451 313846 455940 867616 62653 4252 645 240
Non-financial corporations12 3561 075167 869152 38051 3727 740392 792
Banks00167 599149 55223 92421 852362 927
Other financial corporations1 00041 750221 639414 98756 16317 196752 735
Central government and social security funds64 879015 27546 320449 090.575 564
Local government57 6437 17060 99854 11018 074240198 235
Non-profit institutions serving households
Households
Rest of the world6761 319213 074123 51718 0036 397362 986
 
Remaining maturity
Outstanding amounts in total from debt securities issued in Norway577 477388 6431 169 459409 73852 01247 9102 645 239
Non-financial corporations55 67266 103199 18462 7084 7524 373392 792
Banks63 09970 196150 01956 6041 30021 709362 927
Other financial corporations192 766135 478334 83961 76511 99015 896752 734
Central government and social security funds122 7415 895247 930172 99826 000.575 564
Local government82 00028 30754 92231 0062 000.198 235
Non-profit institutions serving households00....0
Households00....0
Rest of the world61 19982 664182 56424 6575 9705 932362 986

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.
<= 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 abroad213 00119 446543 239723 324345 284164 4692 008 763
Non-financial corporations22 363028 958144 264129 798190 830420 798
Banks174 0304 027163 062105 20929 85110 641486 820
Other financial corporations16 60815 418351 219473 851185 63458 4141 101 144
 
Remaining maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad524 393265 897622 416436 23689 36070 4602 008 762
Non-financial corporations29 32240 457108 030156 63744 45241 900420 798
Banks256 02575 261108 30238 3655 6073 259486 819
Other financial corporations239 045150 178406 083241 23539 30025 3011 121 006

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), 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.

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 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.

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 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.

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.

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. 

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.