Statistikk innhold

Statistics on

Financial accounts

The financial accounts are designed to provide a comprehensive and consistent survey of institutional sectors’ financial assets, liabilities and financial transactions.

Updated: 5 June 2025
Next update: 4 September 2025

Selected figures from these statistics

  • Financial accounts for households. Key figures. Billion NOK and percentage
    Financial accounts for households. Key figures. Billion NOK and percentage
    1st quarter 20242nd quarter 20243rd quarter 20244th quarter 20241st quarter 2025
    Assets7 0107 1837 2797 3877 424
    Liabilities4 5684 6474 6724 7454 752
    Net financial assets2 4422 5362 6072 6412 672
    Net lending4326-12547
    Other changes121688330-17
    Debt to income ratio1 226.1223.7221.9221.1220.4
    Debt growth (per cent)1 3.23.53.73.94.1
    1Seasonal adjusted
    Explanation of symbols
  • Financial assets, liablilities and net lending by institutional sectors. Last period. NOK million.
    Financial assets, liablilities and net lending by institutional sectors. Last period. NOK million.
    1st quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NPISHRest of the world
    Net finanical assets-6 141 784487 74821 111 9442 847 419-18 305 327
    Assets12 441 19419 029 46924 189 3607 634 20811 345 310
    Cash and currency, etc.4 71079 89976428 64472 557
    Deposits1 208 4241 384 258495 0881 894 0721 907 373
    Debt securities306 7903 507 0095 587 42115 6653 564 244
    Loans3 617 0978 568 0401 624 985155 8562 015 336
    Equity4 887 9892 951 97515 416 9612 048 9842 883 838
    Investment fund shares or units271 4191 852 09134 695642 150130 597
    Insurance and pension entitlements70 38537 28478 8272 479 79452 020
    Other accounts receivable2 058 219297 735923 266362 495468 044
    Liabilities18 582 97818 541 7213 077 4164 786 78929 650 637
    Cash and currency, etc.0109 4540077 120
    Deposits05 904 50700984 708
    Debt securities1 114 2193 418 956900 2063 9397 543 809
    Loans6 353 8191 255 8301 682 9754 636 3932 052 297
    Equity8 853 6572 380 1540016 955 936
    Investment fund shares or units02 093 93000837 022
    Insurance and pension entitlements02 690 6230027 687
    Other accounts payable2 207 644340 060469 123146 363946 569
    Net lending, sum 4 last quarters-19 81396 237748 07775 609-900 110
    1Including reconciliation sector
    Explanation of symbols
  • Households' financial assets, liabilities and net lending. NOK million.
    Households' financial assets, liabilities and net lending. NOK million.
    1st quarter 20242nd quarter 20243rd quarter 20244th quarter 20241st quarter 2025
    Net financial assets2 442 3222 535 7802 607 0592 641 4592 672 339
    Assets7 010 0977 183 1907 278 8057 386 6627 423 865
    Cash and currency28 33728 53028 10128 84127 995
    Deposits1 690 4681 765 0971 738 2121 743 5081 801 526
    Debt securities9 8569 9019 6958 9308 640
    Loans152 435153 434154 517154 833155 856
    Equity1 980 6031 993 0032 000 7292 009 5322 013 790
    Investment fund shares or units492 343530 477581 589606 080578 566
    Insurance and pension entitilements2 314 4462 375 2762 432 8622 470 5122 479 720
    Other accounts receivable334 614320 386325 914359 042351 482
    Liabilities4 567 7754 647 4104 671 7464 745 2034 751 526
    Loans4 423 1664 481 5564 534 5194 572 1044 606 497
    Other accounts payable144 079165 774137 137173 007144 950
    Net lending43 01625 944-12 1624 57047 403
    Explanation of symbols
  • Interlinkages of creditor and debtors. Loan. NOK million.
    Interlinkages of creditor and debtors. Loan. NOK million.
    1st quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHRest of the world
    Creditor sector
    Assets
    Non-financial corporations1 3 198 1954 57414 49318 656381 179
    Financial corporations2 040 294618 178592 1944 410 009907 365
    General government50 306503 677121 617185 632763 753
    Households & NIPSH141 62114 226900
    Rest of the world923 403115 175954 66222 0960
    Flows
    Non-financial corporations1 91-2596220014 868
    Financial corporations17 265-58 42220 49634 150152 337
    General government-8617 8350981-391 921
    Households & NIPSH1 00038-1400
    Rest of the world-32 161-163-453 61100
    1Including reconciliation sector.
    Explanation of symbols
  • Interlinkages of creditors and debtors. Debt securities. NOK million.
    Interlinkages of creditors and debtors. Debt securities. NOK million.
    1st quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentRest of the world
    Creditor sector
    Stocks
    Non-financial corporations1 38 32122 40824 340221 721
    Financial corporations278 349988 135333 8891 902 697
    General government30 76959 36980 6195 416 664
    Household & NIPSH5 0827 6152412 727
    Rest of the world761 6982 341 429461 1170
    Flows
    Non-financial corporations1 5 797-2 341504103 415
    Financial corporations20 78415 16028 882-50 814
    General government-1 410-1 423-3 233114 195
    Household & NIPSH557168-118-223
    Rest of the world28 013-9 473-23 4260
    1Including reconciliation sector.
    Explanation of symbols
  • Interlinkages of creditors and debtors. Listed and unlisted shares. NOK million.
    Interlinkages of creditors and debtors. Listed and unlisted shares. NOK million.
    1st quarter 2025
    Issuing sector
    Non-financial corporations1 Financial corporationsRest of the world
    Holding sector
    Stocks
    Non-financial corporations1 3 135 192154 4441 418 103
    Financial corporations726 244561 9081 628 183
    General government1 105 674242 90813 360 742
    Households & NIPSH1 262 906295 355108 276
    Rest of the world2 136 164579 2290
    Flows
    Non-financial corporations1 1 9563 89127 213
    Financial corporations-7 3412 199-12 940
    General government-2 35153836 323
    Households & NIPSH-1 695-48-168
    Rest of the world-9 182-35 8260
    1Including reconciliation sector.
    Explanation of symbols
  • Domestic sectors' financial assets and liabilities towards the rest of the world. Last period. NOK million.
    Domestic sectors' financial assets and liabilities towards the rest of the world. Last period. NOK million.
    1st quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHSum domestic sectors
    Net financial assets-1 290 512915 12218 164 655516 06318 305 327
    Assets2 904 0746 431 98519 776 420538 15929 650 637
    Cash and currency, etc.077 1200077 120
    Deposits49 104903 67216 08715 845984 708
    Debt securities221 7211 902 6975 416 6642 7277 543 809
    Loans381 179907 365763 75302 052 297
    Equity1 506 0131 630 10113 363 291456 53116 955 936
    Investment fund shares or units85 647684 4463 87363 056837 022
    Insurance and pension entitlements027 6870027 687
    Other accounts receivable654 130104 286188 1530946 569
    Liabilities4 194 5865 516 8631 611 76522 09611 345 310
    Cash and currency, etc.072 5570072 557
    Deposits01 907 373001 907 373
    Debt securities761 6982 341 429461 11703 564 244
    Loans923 403115 175954 66222 0962 015 336
    Equity2 304 609579 229002 883 838
    Investment fund shares or units0130 59700130 597
    Insurance and pension entitlements052 0200052 020
    Other accounts payable174 413120 708172 9230468 044
    1Including reconciliation sector.
    Explanation of symbols

About the statistics

The information under «About the statistics» was last updated 11 March 2025.

1. Net lending defined in non-financial accounts (capital account) =

saving + net capital transfers - net acquisition of non-financial assets

2. Net lending defined in financial accounts =

net acquisition of financial assets - net incurrence of liabilities

Savings is non-consumed income and can be invested in financial or non-financial assets. If savings exceed non-financial investments, a sector has surplus of funds and becomes a net lender to other sectors. In the financial transaction account, this means that the sector acquire more financial assets than liabilities. On the other hand, if savings are less than non-financial investments, investments have to be funded either by selling financial assets or incurring debts. For example, household investments in non-financial assets mainly reflect the purchase of new housing and fixed investments by unincorporated enterprises. They typically finance substantial parts of these investments by incurring debt in the form of loans.

Net financial assets (net financial wealth) = total financial assets - total liabilities

The financial balance sheet shows the financial position of a sector at the end of the reference period and is broken down into categories of financial assets and liabilities. The predominant assets held by for example the households, are insurance technical reserves, currency and deposits, while loans provided by financial corporations (banks etc) constitute the main proportion of liabilities.

Changes in net financial asset = net lending + other changes in assets and liabilities

The change in the financial balance sheet during the reference period is a result of accumulated financial transactions and other changes in assets. The latter category mainly reflects revaluations due to changes in market prices of financial instruments.

Accounting system

The accounting system provides the framework and contents required for compiling national accounts statistics. In the system, each financial asset has a counterpart liability. This is reflected by the data structure of the financial accounts which is three-dimensional; creditor sector * debtor sector * financial instrument.

Institutional sector classification

Each institutional sector comprises institutional units with broadly similar behaviour. The institutional units are grouped into mutually exclusive institutional sectors on the basis of economic activity, organisational structure and ownership. Institutional units are autonomous entities that are capable, in their own right, of owning assets, incurring liabilities and engaging in economic activities and in transactions with other entities. In most cases, the institutional unit is identical to the legal unit or persons or groups of persons in the form of households.

The institutional sector classification in the financial accounts is based on the recommendations of the SNA 2008 and ESA 2010. The main sectors of system are detailed below:

1 Total economy

The total economy of a country consists of all institutional units having their centre of predominant economic interest in the economic territory of that country. Such uints are known as resident units, irrespsctive of natonalty and legal form.

Braches and other establishment of Norwegian corporation abroad are not included. See rest of world.

11 Non-financial corporations

The sector covers institutional units engaged in the market production of non-financial products and services.

The reconciliation sector, which shows the inconsistencies between debtor and creditor sector information and sometimes the inconsistencies between the financial accounts and the non-financial accounts, is treated as a separate sector in the working databases in the financial accounts. The data for the reconciliation sector has been added to the non-financial corporation sector in the publications and the reports to Eurostat and OECD.

12 Financial corporations

The sector covers institutional units engaged the market production of financial services and in financial activities. The sector comprise entities that are credit intermediaries or offer insurance products and services, mutual funds, financial holding companies, but also entities whose main activities are financial auxiliary services (e. g. brokerage services, fund management services, financial register services etc.). The main sector is divided into the following sub-sectors:

  • 121 Norges Bank
  • 1221 Banks
  • 1222 Mortgage companies
  • 123 Money market funds
  • 124 Non-MMF investment funds
  • 125-127 Other financial corporations
  • 128-129 Life insurance corporations, non-life insurance corporations and pension funds

The aggregate sector 125-127 Other financial corporations consists of finance companies, financial holding companies, financial auxiliaries, state lending institutions, state investment companies and other investment companies.

124 Non-MMF investment funds incude alternative investments funds (AIF) from the year 2012. Before that the AIFs are included in 125-127 Other financial corporations.

13 General government

The sector covers all state, municipal and county municipal administrative bodies. The Government Pension Fund - Global (previously known as Petroleum Fund) and The Government Pension Fund - Norway (previously known as the National Insurance Scheme Fund) are also included. Non-financial and financial corporations controlled by government are not included.

In addition to carrying out political responsibilities, the general government sector provides and enforces regulations, produces public services (mainly non-market) and redistributes income and wealth. The general government sector has tax revenues, property income and borrowed capital at its disposal. The main sector is divided into the following sub-sectors:

  • 131 Central government
  • 133 Local government

14 Households

The households sector covers wage-earners, retirees, recipients of national insurance benefits, unincorporated enterprises and tenant-owner’s associations etc. The households consume goods and services, supplies labour and as entrepreneurs, supplies the production of market goods and services. The sector comprises the “consumers of the economy´´. Total consumption expenditure is partly financed by the households themselves, partly by general government and partly by non-profit institutions serving households. The households also produces goods and services for their own consumption. The services related to housing is the largest part of the self-produced, self-consumed service. Because the property in tenant-owner’s associations are considered as owner-tenant properties, the tenant-owner associations are included in the households sector.

15 Non-profit institutions serving households (NPISH)

NPISHs consist of non-profit institutions that are separate legal entities, which serve households and which are principally engaged in the production of non-market goods and services intended for households. Their main resources, apart from those derived from occasional sales, are transfers from general government, voluntary contributions by households and corporations, and property income.

2 Rest of the world

This institutional sector includes all non-resident institutional units that enter into transactions with resident units, or have other economic links with resident units. This includes:

  • Non-resident institutional units controlled by foreign or Norwegian corporations.
  • Natural persons who are permanent resident abroad (including Norwegian citizens)
  • Staff of foreign embassies, foreign embassies and consulates and in Norway

The classification of financial assets and liabilities

The financial accounts include a limited number of financial instrument groups with detailed claims and debt items in the balance sheets of institutional units. The financial instrument links one entity claim to another sector’s debt items. The financial instruments are grouped in claim and debt items with similar economic functions. For example, the payment function is characteristic of coins, notes and salary accounts, while credit is procured through different types of loans. In addition, the liquidity ratio has been the determinant factor for the ranking of financial assets in the classification.

Classification of financial assets and liabilities in the financial accounts is based on the recommendations of the SNA 2008 and ESA 2010. The classifications are described below:

AF1 Monetary gold and drawing rights (SDR)

Comprise gold and special drawing rights (SDRs). Norges Bank sold the rest of its gold reserves in 2004. Before that gold was a very small proportion of the banks total reserves. As a simplification gold is therefore excluded from the financial accounts for the whole period from 1995.

AF2 Currency and deposits

Comprise Norwegian and foreign notes and coins, all types of deposits with commercial banks and savings banks, Norges Bank and foreign banks. The net reserves position with the IMF is also included. The financial accounts distinguish between the following types of detailed financial instruments:

  • Currency
  • Transferable deposits
  • Other deposits

AF3 Dept securities

Comprise short and long-term securities. Short-term securities is defined as negotiable securities with original maturity of maximum one year, while long-term securities comprise instruments defined as tradable standardised debentures with original maturity of more than one year. The financial accounts distinguish between the following types of detailed financial instruments:

  • Short-term securities
  • Long-term securities

AF4 Loans

This financial instrument includes lending forms other than tradable debentures and certificates and is mainly quantified on the basis of the specifications in accounting statistics for financial corporations. The financial accounts distinguish between the following types of detailed financial instruments:

  • Short-term loans
  • Long-term loans

AF5 Shares and other equity

The instrument includes ordinary shares in limited liability companies, shares in general partnerships and shares in mutual funds. Shares in foreign companies are also included. Furthermore, the instrument includes tradable Norwegian equity certificates and general government capital contributions in public enterprises and the state lending institutions. As from Q4 2021 the Equity certificates are included in Quoted shares. Before Q4 2021 the instrument is included in Other equity. The financial accounts distinguish between the following types of detailed financial instruments:

  • Quoted shares
  • Unquoted shares
  • Other equity
  • Mutual funds shares

AF6 Insurance technical reserves

The instrument includes individual insurance savings and group insurance savings in private life insurance companies and total capital in autonomous municipal and private pension funds. Prepayments of premiums and reserves against outstanding claims in non-life insurance companies are also included. The financial accounts distinguish between the following types of detailed financial instruments:

  • Non-life insurance technical reserves
  • Life insurance and annuity entitlements
  • Pension entitlements - defined contribution
  • Pension entitlements - defined benefit
  • Claims of pension funds on pension managers

AF7 Financial derivatives and employee stock options

The instrument financial derivatives consists of several types of derivatives and employee stock options. There is a weak source base for compiling transactions. Therefore transactions in AF7 is sometimes adjusted and used for net lending balancing purposes.

AF8 Other accounts receivable/payable

Comprise claims and debt that is due to differences in timing between transactions and payments. For example deferred tax claims/liabilities and unsettled trades of financial instruments. Dwellings held by Norwegian residents in the rest of the world are recorded on AF8, and also Norwegian dwellings held by non-residents. Transactions in AF8 is sometimes adjusted and used for net lending balancing purposes.

Relatert innhold