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 March 2026
Next update: 4 June 2026

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
    4th quarter 20241st quarter 20252nd quarter 20253rd quarter 20254th quarter 2025
    Assets7 5547 6027 8838 0008 178
    Liabilities4 7554 7664 8594 8924 979
    Net financial assets2 7992 8363 0243 1083 200
    Net lending55061-11-3
    Other changes58-131279594
    Debt to income ratio1 209.8210.1209.9209.6209.1
    Debt growth (per cent)1 4.24.34.54.64.7
    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.
    4th quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NPISHRest of the world
    Net finanical assets-6 192 873496 51523 585 0443 383 964-21 272 650
    Assets12 575 51719 798 27527 301 7548 400 71411 906 671
    Cash and currency, etc.4 78779 13576429 26671 614
    Deposits1 239 4011 146 297389 6331 985 7111 789 096
    Debt securities280 9313 527 9936 013 64616 2963 733 863
    Loans3 560 3428 848 3112 421 633159 3142 504 141
    Equity5 063 4143 439 86517 582 3702 307 4412 989 516
    Investment fund shares or units338 7222 133 75036 443809 907141 758
    Insurance and pension entitlements70 42737 79484 5612 711 83552 287
    Other accounts receivable2 006 065325 723743 640374 832452 985
    Liabilities18 768 39019 301 7603 716 7105 016 75033 179 321
    Cash and currency, etc.0109 1910076 375
    Deposits05 859 72500690 413
    Debt securities1 167 4823 492 114972 0993 9397 937 095
    Loans6 315 9411 315 5072 211 8534 819 6772 830 763
    Equity9 069 0152 659 5520019 654 040
    Investment fund shares or units02 397 434001 063 146
    Insurance and pension entitlements02 929 5860027 318
    Other accounts payable2 188 936301 224505 782193 052714 251
    Net lending, sum 4 last quarters-79 565127 027564 645109 626-721 733
    1Including reconciliation sector
    Explanation of symbols
  • Households' financial assets, liabilities and net lending. NOK million.
    Households' financial assets, liabilities and net lending. NOK million.
    4th quarter 20241st quarter 20252nd quarter 20253rd quarter 20254th quarter 2025
    Net financial assets2 798 8392 836 1603 024 4103 108 1443 199 563
    Assets7 553 9747 602 2137 883 3787 999 6988 178 319
    Cash and currency28 84127 99528 48028 24028 605
    Deposits1 746 5481 804 5661 900 3521 885 9681 889 265
    Debt securities8 9308 6409 1159 1349 045
    Loans155 177156 200157 285158 395159 314
    Equity2 150 0272 168 3152 210 1552 234 2732 268 228
    Investment fund shares or units622 797593 282643 620689 237742 538
    Insurance and pension entitilements2 476 6802 484 6622 584 9182 649 8302 711 764
    Other accounts receivable359 590352 263343 239338 564363 653
    Liabilities4 755 1354 766 0534 858 9684 891 5544 978 756
    Loans4 571 2464 605 4794 672 8174 734 1824 787 422
    Other accounts payable183 797160 495186 068157 298191 260
    Net lending4 87449 83460 833-11 134-2 692
    Explanation of symbols
  • Interlinkages of creditor and debtors. Loan. NOK million.
    Interlinkages of creditor and debtors. Loan. NOK million.
    4th quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHRest of the world
    Creditor sector
    Assets
    Non-financial corporations1 3 121 1653 33614 08018 445403 316
    Financial corporations2 099 601687 761593 5804 591 742875 627
    General government47 334514 090121 567186 8221 551 820
    Households & NIPSH147 28112 0181500
    Rest of the world900 56098 3021 482 61122 6680
    Flows
    Non-financial corporations1 41-373-5781004 462
    Financial corporations26 33259 159-1 41854 898-134 539
    General government-6303 97406780 855
    Households & NIPSH1 000-86500
    Rest of the world-31 151-1 395656 51500
    1Including reconciliation sector.
    Explanation of symbols
  • Interlinkages of creditors and debtors. Debt securities. NOK million.
    Interlinkages of creditors and debtors. Debt securities. NOK million.
    4th quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentRest of the world
    Creditor sector
    Stocks
    Non-financial corporations1 36 32619 67232 762192 171
    Financial corporations265 937977 094373 5671 907 456
    General government34 14660 83084 2175 834 453
    Household & NIPSH5 2697 7882243 015
    Rest of the world825 8042 426 730481 3290
    Flows
    Non-financial corporations1 -8769449 880-691
    Financial corporations-515-9 23011 89723 469
    General government-344-1 5611 370125 497
    Household & NIPSH2221782-375
    Rest of the world51 01926 5529640
    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.
    4th quarter 2025
    Issuing sector
    Non-financial corporations1 Financial corporationsRest of the world
    Holding sector
    Stocks
    Non-financial corporations1 3 204 271167 3351 510 181
    Financial corporations765 309670 8861 962 411
    General government993 211252 96715 587 056
    Households & NIPSH1 412 412348 032129 585
    Rest of the world2 203 934618 8780
    Flows
    Non-financial corporations1 11 244-5 19011 776
    Financial corporations5 5767 48632 109
    General government1 2413218 852
    Households & NIPSH2 5311 083125
    Rest of the world-10 285-2 3520
    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.
    4th quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHSum domestic sectors
    Net financial assets-1 407 2211 158 80520 907 589613 47621 272 650
    Assets2 878 6866 576 09823 088 392636 14433 179 321
    Cash and currency, etc.076 3750076 375
    Deposits44 316602 87724 33518 885690 413
    Debt securities192 1711 907 4565 834 4533 0157 937 095
    Loans403 316875 6271 551 82002 830 763
    Equity1 590 5181 965 36815 589 657508 49619 654 040
    Investment fund shares or units99 344852 5295 525105 7481 063 146
    Insurance and pension entitlements027 3180027 318
    Other accounts receivable544 448115 10254 7010714 251
    Liabilities4 285 9075 417 2932 180 80322 66811 906 671
    Cash and currency, etc.071 6140071 614
    Deposits01 789 096001 789 096
    Debt securities825 8042 426 730481 32903 733 863
    Loans900 56098 3021 482 61122 6682 504 141
    Equity2 370 638618 878002 989 516
    Investment fund shares or units0141 75800141 758
    Insurance and pension entitlements052 2870052 287
    Other accounts payable162 346100 645189 9940452 985
    1Including reconciliation sector.
    Explanation of symbols

About the statistics

The information under «About the statistics» was last updated 13 October 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 the 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 units are known as resident units, irrespective of nationality and legal form.

Branches and other establishments of Norwegian corporations 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 include 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