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/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
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statistikk
2021-01-08T08:00:00.000Z
Banking and financial markets
en
banker, Banks and mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowersFinancial institutions and other financial corporations, Banking and financial markets
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Banks and mortgage companies

Updated

Next update

Key figures

1 432 628

NOK million in deposits from Households, November 2020

Selected figures. NOK million.
November 2019November 2020
Banks
Loans to households1 514 1331 522 809
Loans to manufacturing industry76 80978 841
Deposits from households1 313 2401 432 628
Mortgage companies
Loans to households1 645 8151 805 971
Loans to manufacturing industry2 4232 523
State lending institutions
Loans to households246 769258 194
Loans to manufacturing industry1 8251 882

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
August 2020September 2020October 2020November 2020
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries1 512 1371 526 2281 543 4021 539 113
 
Agriculture53 87254 01354 19854 561
Forestry4 3754 4194 3714 415
Fishing and hunting36 10136 35436 55936 755
Fish farming services29 91532 27433 66933 785
Mining and quarrying19 0719 0258 9598 701
Services linked to extraction of crude petroleum and natural gas12 5582 5172 5352 421
Extraction of crude petroleum and natural gas10 06210 1749 4418 710
Manufacturing industry75 64176 14879 33278 841
Ship and boat building6 5195 9265 6825 449
Electricity and water supply47 24049 11849 23248 926
Water supply, drainage and waste disposal7 3337 6767 9848 170
Real estate development128 439131 996134 541132 477
Building and construction work beyond real estate development46 02044 76845 28444 970
Commodity trade etc65 13765 34268 23766 870
Sea transport abroad and transport via pipelines162 74464 61272 41569 893
Transportation and storage164 74164 89061 29860 216
Hotels and restaurants17 98318 13518 49317 563
Information and communication19 59120 50422 14921 084
Real estate, renting and business activities653 325654 100655 363663 013
Professional and financial services87 58388 77888 99687 604
Businesslike services40 01939 96839 20939 312
Other service activities43 86745 48845 45545 378

Table 2 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
August 2020September 2020October 2020November 2020
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries126 479128 442126 837127 148
 
Agriculture2 5862 6282 6542 715
Forestry258255259259
Fishing and hunting270277286292
Fish farming services140139138148
Mining and quarrying16061183193
Services linked to extraction of crude petroleum and natural gas134343535
Extraction of crude petroleum and natural gas........
Manufacturing industry2 4642 4652 4882 523
Ship and boat building52534851
Electricity and water supply190190191186
Water supply, drainage and waste disposal6 0095 9944 2534 217
Real estate development8338301 100905
Building and construction work beyond real estate development4 0854 1574 2094 266
Commodity trade etc1 9101 9321 8192 011
Sea transport abroad and transport via pipelines11 5501 3021 142752
Transportation and storage18 3328 2477 7477 880
Hotels and restaurants488479503477
Information and communication672668657690
Real estate, renting and business activities84 74186 48286 80987 029
Professional and financial services2 5862 6182 8992 686
Businesslike services2 6732 7232 4072 748
Other service activities6 5466 9097 0117 084

Table 3 
State lending institutions. Loans by industry. NOK million

State lending institutions. Loans by industry. NOK million
August 2020September 2020October 2020November 2020
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries78 78178 91279 29879 965
 
Agriculture4 2894 3204 3544 375
Forestry78777270
Fishing and hunting6 1576 1676 1196 142
Fish farming services848844842992
Mining and quarrying133333233
Services linked to extraction of crude petroleum and natural gas1-9-9-9-9
Extraction of crude petroleum and natural gas........
Manufacturing industry1 7431 7871 7931 882
Ship and boat building288286277204
Electricity and water supply122119120115
Water supply, drainage and waste disposal21212121
Real estate development1 6621 6582 0632 070
Building and construction work beyond real estate development459475472471
Commodity trade etc305331331327
Sea transport abroad and transport via pipelines129282626
Transportation and storage1547551550541
Hotels and restaurants1 4981 5001 4961 494
Information and communication9601 0141 0551 098
Real estate, renting and business activities40 74140 71240 75041 000
Professional and financial services1 3491 3711 3611 381
Businesslike services411427428431
Other service activities17 25017 19817 14217 300

About the statistics

The statistics on banks and mortgage companies compile balance sheets and profit and loss accounts for credit institutions, finance companies and state lending institutions. The balance sheet shows assets, liabilities and equity. The profit and loss account shows revenues and expenses.

Definitions

Definitions of the main concepts and variables

Balance sheet, monthly and yearly

The balance sheet shows assets, liabilities and equity at the end of the accounting period. The most important balance sheet items are presented by sector.

Profit and loss account, quarterly

The profit and loss account shows accumulated revenues and expenses throughout the year.

 

Standard classifications

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

Finance objects and real objects (instruments)

Liabilities, claims and other assets in banks and financial corporations' balance sheets are divided into main equable groups, for example loans, bank deposits, bonds, shares etc.

Debtor and creditor sector

Borrowers and lenders are classified by institutional sector classification based on the national accounts' regulations. See our pages for the reporting institutions (in Norwegian);

https://www.ssb.no/innrapportering/naeringsliv/orbof

Debtor and creditor industry

Based on regulations in the industry standard, loans and deposits are grouped according to which industry the debtor or creditor belongs to. See our pages for the reporting institutions (in Norwegian);

https://www.ssb.no/innrapportering/naeringsliv/orbof

Income and cost types
Income and cost types are based on national account regulations. Examples of income and cost types are interest income and interest costs.

Administrative information

Name and topic

Name: Banks and mortgage companies
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

The whole country

Frequency and timeliness

The monthly balance sheet statistics is published 5 weeks after the reporting period. The profit and loss account is published 8 weeks after the reporting period. Yearly aggregated loans and deposits by county are published 6 months after the reporting period.

International reporting

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

Microdata

Not relevant

Background

Background and purpose

The reporting procedure is made in collaboration between the Financial Supervisory Authority of Norway, Norges Bank and Statistics Norway. The data from banks and financial corporations form the basis for the supervision of the institutions and the financial markets. The data is also an information base for the monetary and credit market policy and a vital contribution to the statistics for credit indicators and monetary growth. The reporting is the main base for the official statistics on financial enterprises. It is also an important input in the national accounts and the balance of payments and the credit market statistics. The data is used for international reporting to the BIS, Eurostat, the IMF and the OECD etc.

Users and applications

The main area of application is statistics (publishing and input in other statistics), analysis and supervision (by the Financial Supervisory Authority of Norway). The data is included in the national accounts, financial sector accounts and the balance of payments. Important users other than Statistics Norway are Norges Bank, the Financial Supervisory Authority of Norway, Ministry of Finance, the financial services industry, researchers at universities and in international organisations, and the media.

Equal treatment of users

Not relevant

Coherence with other statistics

The statistics are based on the guidelines in the national accounts standards System of National Accounts from 2008 (SNA 2008), European System of Accounts from 2010 (ESA 2010) and the IMF Manual on Monetary and Financial Statistics.
Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

Legal authority

The main part of the data covered here is collected under the provisions of the Act on the Supervision of Credit Institutions, Insurance Companies and Securities Trading etc. (Financial Supervision Act) of 7 December 1956 no. 1 (with amendments per 1 July 2003). Reporting from Norges Bank and from state lending institutions is obtained under the provisions of the Act concerning official statistics and Statistics Norway of 16 June 1989 no. 54 (the Statistics Act).

EEA reference

Council directive 635/86 Accounting directive for banks and other credit institutions.

Council directive 2006/48/EF Supervisory directive relating to the taking up and pursuit of the business of credit institutions

Council regulation 295/2008. Council regulation 251/2009 Amendments to council regulation 295/2008.

Council regulation 2223/96 The regulation covers the European system for national and regional accounts.
Council regulation 1392/2007 Amendments to council regulation 2223/96.

Council regulation 1606/2002 Regulation on the application of international accounting standards
Council regulation 297/2008 Amendments to council regulation 1606/2002

Production

Population

The financial statistics is based on balance sheet and profit and loss account data from Norges Bank, all banks, state lending institutions, mortgage companies and financial companies in Norway, including foreign companies' branches in Norway.

Data sources and sampling

The data is based on reconciliated accounting data from financial institutions.

The accounting statistics are based on the total count.

 

Collection of data, editing and estimations

The Financial Supervisory Authority of Norway and Statistics Norway work together to collect the accounting data. All data is reported electronically via the official Norwegian portal Altinn. The reporting institutions receive automatic feedback on errors or possible errors in the reporting. These errors should be corrected within two days. After Statistics Norway complete to process the data, the reporting institutions may be asked to control, verify or correct other data not included in the automatic feedback. Corrections from the reporting institutions are received continuously.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

Amendments to the Accounting Act and regulations
The accounting statistics for financial institutions is based on current accounting regulations for financial institutions. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the financial institutions.

Structural changes in the financial sector
There are several new companies, acquisitions, mergers, spin-offs, reclassifications and portfolio movements every year. Many of these structural changes have no significant impact on the statistics, while others lead to breaches in the time series. Major changes will be commented upon in the current statistics publication.

Regulation on loans
The IFRS-adapted regulation on loans was introduced 1. January 2005. Which led to a small change in the measuring of the value of loans and guaranties in the accounting data and thereby to a small breach in the time series for loans and loan loss provisions. There was also a breach in the time series on loans in 1992 due to changes in accounting rules.

Changes in the presentation of the statistics
Data specifications are updated continuously. An example of changes in data series is that Credit lines secured on dwellings became a new specification from January 2006 and was partly deducted from repayment loans secured on dwellings.

Norwegian covered bonds
Covered bonds are bonds conferring a preferential claim over a cover pool consisting of public sector loans and loans secured on dwellings or other real property. Only mortgage companies with special authorisation can issue covered bonds in Norway, and these bonds have been issued since June 2007.

On 24 October 2008, the Norwegian Parliament granted the Ministry of Finance the authority to put into effect an arrangement where Norwegian banks could “swap” covered bonds with treasury bills. This “swap agreement” was aimed at reducing the negative effects of the financial crisis. The banks can acquire covered bonds either in the market or directly from mortgage companies that are licensed to issue covered bonds. Since the announcement of this offer by the Norwegian government, several new mortgage companies have been established. As a result, lending portfolios have been swapped between banks and mortgage companies.

New specification on industries
In May 2009, a new Norwegian standard for industries were introduced in the financial statistics. This change increased the possibilities to track the development in loans for important individual industries. It also led to breaches in time series for loans by industry. This makes comparison of loans by industry difficult in the period before and after May 2009 on monthly basis, and before and after May 2010 on yearly basis for several industries.

New institutional grouping of sectors
From January 2012, a new Norwegian standard for institutional grouping of sectors were made in line with revised international standards, which Norway is obliged to follow. From March 2012 onwards, this led to breaches in the accounting statistics for banks and financial institutions.

Some companies that were classified as non-financial institutions are now classified as financial institutions. Loan to these institutions should no longer be allocated between different industries and are no longer included in the statistics for loans by industry. The industry for professional and financial services is particularly affected, since many of the institutions that were included earlier, have been moved from non-financial institutions to financial institutions.

New specifications of deposits
As of April 2015, new deposit specifications were introduced in the balance sheet reporting. Some deposit series from the periods prior to April 2015 are therefore not comparable with later periods. See this article for more information: https://www.ssb.no/bank-og-finansmarked/artikler-og-publikasjoner/pengemengdestatistikken

Customisation of reporting from banks and finance companies (ORBOF) to international accounting standards (IFRS 9)
From January 2018 onwards, there has been completed a large restructuration of the reporting that is the basis for this statistic. This was an extensive restructuration and implied change of definitions in the reported data, which affected both the balance sheet and the profit and loss account. It also led to changes in the scope of some objects in the reporting. Due to the new reporting standard, there are breaches in some time series that makes it challenging to compare data before and after January 2018. See this article for more information: https://www.ssb.no/bank-og-finansmarked/omlegging-av-bankstatistikken

 

Accuracy and reliability

Sources of error and uncertainty

Errors and discrepancies can occur in the accounting data. These discrepancies can have a several sources:

*Errors in the reporting party's accounts

*Errors in the transfer of data from the institution's primary accounts to data reports and to recipients

*Different accounting and evaluation principles

*Different accounting dates for transactions

*Insufficient data from the reporting parties

*Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceding publishing. Large and important revision however, will be commented upon in the publishing of today's statistics.

Revision

The statistics show preliminary figures. Data may be revised in future publications.