329466
/en/bank-og-finansmarked/statistikker/verdipapirer/kvartal
329466
statistikk
2018-05-24T08:00:00.000Z
Banking and financial markets
en
verdipapirer, SecuritiesSecurities markets , Banking and financial markets
true

Securities

Updated

Next update

Main figures - VPS. Last 4 quarters. NOK billion
2nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Stocks (market value)
Shares (listed)2 095.52 344.02 456.92 499.4
Shares (unlisted)454.3459.2462.4437.0
Long-term debt securities issued in Norway1 909.51 935.31 971.32 012.6
Short-term debt securities issued in Norway156.7158.5152.3156.6
Equity certificates48.853.054.954.2
 
Dividends/coupon payments
Shares (listed)54.68.219.28.5
Shares (unlisted)3.73.91.00.6
Long-term debt securities issued in Norway21.37.89.311.9
Short-term debt securities issued in Norway0.30.20.20.2
Equity certificates1.60.00.00.1

See more tables on this subject

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 2018
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securitiesShort-term debt securities
 
Total2 499 376437 00554 1662 012 567156 638
 
Non-financial corporations305 527232 3056 79644 77518 729
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government5 089903..3 19016 697
Public unincorporated enterprises, owned by local government20000
Public incorporated enterprises, owned by local government1 03276311316 2461 890
Private non-financial incorporated enterprises297 627230 2796 62121 483142
Private non-financial unincorporated enterprises7411371090
Private non-profit institutions serving enterprises1 705247553 7460
 
Financial corporations247 122119 07710 8521 273 11397 188
Norges Bank00000
Banks7 27729 0291 266423 90429 952
Mortgage companies03683 0234 986
Finance companies01050
State lending institutions etc.2871 356000
Financial holding companies2 51642 30525 056..
Mutual funds131 7299495 334286 01828 362
Investment trusts and private equity funds6 3134 5741769500
Other financial enterprises, except insurance companies and pension funds74 14134 2992 4554 1703 278
Life insurance companies and pension funds22 4776 0111 408405 22424 325
Non-life insurance companies2 38355020564 7626 286
 
General government836 2501 753141134 14731 810
Central government835 8211 0742123 97031 795
Local government42967913910 17714
 
Non-profit institutions serving households30 7141 45619 6217 625698
 
Households92 93623 8009 2559 005119
Unincorporated enterprises within households1679270
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.00000
Employees, recipients of property income, pensions and social contributions, students etc.92 91923 7219 2528 998119
 
Rest of the world986 68858 5257 490543 8898 095
 
Unspecified sector1398911130

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 2018
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
 
Total14 5531 35712949 8644 376
 
Non-financial corporations1 005-2 2231876402 710
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government-232-100-4581 012
Public unincorporated enterprises, owned by local government....000
Public incorporated enterprises, owned by local government-650-6901 4191 874
Private non-financial incorporated enterprises1 862-2 145187-553-175
Private non-financial unincorporated enterprises-11-1-10
Private non-profit institutions serving enterprises25-102330
 
Financial corporations-1 849-903-29027 2821 756
Norges Bank00000
Banks1 625-1 4562126 8456 212
Mortgage companies0....-5 798-2 618
Finance companies0..0..0
State lending institutions etc...-272000
Financial holding companies8370..2 681-47
Mutual funds788-26-2265 047-1 966
Investment trusts and private equity funds-416316-290
Other financial enterprises, except insurance companies and pension funds-4 544443-51-2 449-305
Life insurance companies and pension funds-542168-331 899355
Non-life insurance companies-877-17-913125
 
General government-5 134-41-1011 9943 093
Central government-5 139100011 9983 093
Local government6-141-10-40
 
Non-profit institutions serving households-133-5813-308-13
 
Households1 081-3131970-9
Unincorporated enterprises within households-20010
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0..-100
Employees, recipients of property income, pensions and social contributions, students etc.1 083-313198-1-9
 
Rest of the world19 5724 8993210 255-3 160
 
Unspecified sector10-4000

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 20173rd quarter 20174th quarter 20171st quarter 2018
 
Total54 5768 21519 2028 549
 
Non-financial corporations37 5528 09319 0548 341
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government19 2965 73311 5205 765
Public unincorporated enterprises, owned by local government0000
Public incorporated enterprises, owned by local government634......
Private non-financial incorporated enterprises17 6212 3617 5332 577
Private non-financial unincorporated enterprises0000
Private non-profit institutions serving enterprises0000
 
Financial corporations14 667......
Norges Bank0000
Banks803......
Mortgage companies0000
Finance companies0000
State lending institutions etc.0000
Financial holding companies9 979......
Mutual funds0000
Investment trusts and private equity funds........
Other financial enterprises, except insurance companies and pension funds291......
Life insurance companies and pension funds0000
Non-life insurance companies3 594......
 
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 357122148207

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 20173rd quarter 20174th quarter 20171st quarter 2018
 
Total54 5768 21519 2028 549
 
Non-financial corporations6 1947302 917587
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government2......
Public unincorporated enterprises, owned by local government........
Public incorporated enterprises, owned by local government3......
Private non-financial incorporated enterprises6 1517242 907584
Private non-financial unincorporated enterprises2......
Private non-profit institutions serving enterprises366103
Financial corporations6 7886091 067583
Norges Bank0000
Banks40987176225
Mortgage companies0000
Finance companies0000
State lending institutions etc.........
Financial holding companies........
Mutual funds2 913394663280
Investment trusts and private equity funds1573102
Other financial enterprises, except insurance companies and pension funds2 722698727
Life insurance companies and pension funds5274912047
Non-life insurance companies59793
General government20 1404 2047 9434 222
Central government19 7894 2037 9414 221
Local government35122..
Non-profit institutions serving households1 11018456
Households2 015325745228
Unincorporated enterprises within households1......
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.2 014325745228
Rest of the world18 2762 3246 0742 917
Unspecified sector5454106

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 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Debt securities issued in Norway
Long-term debt securities issued in Norway137 660141 62790 204110 312126 080
- domestic issuers115 65299 21266 87298 61998 927
Short-term debt securities issued in Norway68 06480 37567 50162 25371 037
- domestic issuers68 06479 39266 99861 87570 587
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad128 28158 93131 75860 144117 797
Sertifikater emittert i utlandet223 724237 436261 287278 289330 375
 
Non-financial corporations
Long-term debt securities issued in Norway16 70523 29113 70333 90223 001
Long-term debt securities issued abroad9 00703 3554 7678 726
Short-term debt securities issued in Norway8 75717 97715 65910 54310 051
Short-term debt securities issued abroad31 93723 76331 00423 07743 974
 
Financial corporations
Long-term debt securities issued in Norway62 66258 16538 99948 08457 221
Long-term debt securities issued abroad119 27358 93128 40455 376109 069
Short-term debt securities issued in Norway1 6901 7501 0002 000275
Short-term debt securities issued abroad191 786213 673230 283255 212286 400
 
General government
Long-term debt securities issued in Norway36 28517 75514 17016 63418 706
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway57 61859 66650 34049 33160 261
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway22 00742 41623 33311 69227 152
Short-term debt securities issued in Norway0982503378450

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 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
 
Debt securities issued in Norway
Long-term debt securities issued in Norway1 917 6211 897 2581 920 6551 958 9002 001 625
domestic issuers1 650 5481 630 9581 646 5541 674 7921 720 282
Stort-term debt securities issued in Norway149 122156 855158 594152 441156 816
domestic issuers148 741155 676157 675151 635156 148
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad1 739 8721 694 0491 622 9561 679 0301 633 891
Stort-term debt securities issued abroad134 413100 626117 998119 31880 688
 
Non-financial corporations
Long-term debt securities issued in Norway277 210278 197279 406304 977316 958
Long-term debt securities issued abroad399 855376 220347 815331 491307 246
Stort-term debt securities issued in Norway16 52422 36424 48920 55220 587
Stort-term debt securities issued abroad7 9675 2374 2945 6416 664
 
Financial corporations
Long-term debt securities issued in Norway877 440887 922890 039881 180900 737
Long-term debt securities issued abroad1 340 0171 317 8301 275 1411 347 5391 326 645
Stort-term debt securities issued in Norway3 2931 8432 1151 8811 375
Stort-term debt securities issued abroad126 44695 390113 703113 67774 024
 
Central government
Long-term debt securities issued in Norway495 898464 839477 110488 634502 587
Long-term debt securities issued abroad00000
Stort-term debt securities issued in Norway128 924131 470131 072129 202134 186
Stort-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway267 073266 300274 101284 108281 343
Stort-term debt securities issued in Norway3821 179918806668

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 abroad3 909 688645 286-619 438-62 5163 873 020
Debt securities issued by Norwegian entitites3 624 775617 686-594 038-57 4143 591 009
Debt securities issued in Norway2 111 341197 117-142 785-7 2322 158 441
Debt securities issued by Norwegian entities in Norway1 826 427169 514-117 384-2 1271 876 430
 
Non-financial corporations
Long-term debt securities issued in Norway304 97723 001-9 476-1 544316 958
Long-term debt securities issued abroad331 4918 726-20 872-12 099307 246
Short-term debt securities issued in Norway20 55210 051-9 994-2220 587
Short-term debt securities issued abroad5 64143 974-42 586-3656 664
 
Financial corporations
Long-term debt securities issued in Norway881 18057 221-37 105-559900 737
Long-term debt securities issued abroad1 347 539109 069-91 643-38 3201 326 645
Short-term debt securities issued in Norway1 881275-78101 375
Short-term debt securities issued abroad113 677286 400-321 552-4 50174 024
 
Central government
Long-term debt securities issued in Norway488 63418 706-4 752-1502 587
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway129 20260 261-55 276-1134 186
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway284 10827 152-24 828-5 089281 343
Short-term debt securities issued in Norway806450-573-15668

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 Norway156 62320 703571 660850 195511 73247 5282 158 441
Non-financial corporations20 5874 024131 126129 85745 7966 155337 545
Banks1 3753 530156 751118 08124 66820 451324 856
Other financial corporations06 01690 778410 09853 63516 729577 256
Central government and social security funds77 0000039 000362 000.478 000
Local government57 1864 19245 41644 2547 465261158 774
Non-profit institutions serving households
Households
Rest of the world4752 940147 589108 90518 1693 932282 010
 
Remaining maturity
Outstanding amounts in total from debt securities issued in Norway380 118374 357874 959458 69928 82741 4822 158 442
Non-financial corporations54 37850 842144 64173 07412 3222 287337 544
Banks58 13160 721141 19241 7382 77520 299324 856
Other financial corporations59 618110 955315 65864 91710 68015 429577 257
Central government and social security funds77 00084 00086 000231 000..478 000
Local government76 76117 86842 40920 2361 500.158 774
Non-profit institutions serving households00....0
Households00....0
Rest of the world54 23049 971145 05927 7341 5503 467282 011

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 abroad80 6889 510587 101589 790308 476139 0151 714 580
Non-financial corporations6 664044 55990 25496 234150 920313 909
Banks71 1105 157151 69979 13656 67010 690374 462
Other financial corporations2 9144 353390 843420 400155 57152 1261 026 207
 
Remaining maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad317 629233 030680 456323 161100 23360 0711 714 580
Non-financial corporations26 10738 17378 95692 86451 25026 559313 909
Banks139 93649 124164 9349 7435 7854 940374 462
Other financial corporations151 585145 733436 566220 55243 19728 5721 051 884

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.