404150
/en/bank-og-finansmarked/statistikker/verdipapirer/kvartal
404150
statistikk
2020-11-20T08:00:00.000Z
Banking and financial markets
en
verdipapirer, SecuritiesSecurities markets , Banking and financial markets
true

Securities

Updated

Next update

Key figures

7.7 %

changes in stocks of listed shares

Stocks of securities registered with VPS by type of security. NOK billion and per cent
3rd quarter 20192nd quarter 20203rd quarter 2020Changes in per cent
2nd quarter 2020 - 3rd quarter 20203rd quarter 2019 - 3rd quarter 2020
Stocks (market value)
Shares (listed)2 6162 2962 4737.7-5.4
Shares (unlisted)4404574590.64.5
Equity certificates6163653.15.0
Long-term debt securities2 1392 3922 4040.512.4
Short-term debt securities133146132-9.5-0.3
 
Total5 3885 3545 5333.42.7

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
3rd quarter 2020
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securitiesShort-term debt securities
 
Total2 473 211459 49364 5432 403 554132 471
 
Non-financial corporations425 039246 44410 23937 62111 621
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government5 97353002 29311 438
Public unincorporated enterprises, owned by local government600550
Public incorporated enterprises, owned by local government1 45448011011 243..
Private non-financial incorporated enterprises415 621244 14310 07120 907132
Private non-financial unincorporated enterprises7116910890
Private non-profit institutions serving enterprises1 9151 121483 03450
 
Financial corporations281 688127 97412 1301 517 82784 477
Norges Bank00000
Banks6 35941 8151 221633 63842 768
Mortgage companies02295 6977 134
Finance companies000100
State lending institutions etc.4451 635000
Financial holding companies2540 88421 1980
Mutual funds145 3188396 858312 42516 374
Investment trusts and private equity funds5 5783 979322855185
Other financial enterprises, except insurance companies and pension funds101 15436 9172 0053 7063 744
Life insurance companies and pension funds20 9191 7461 514410 28412 592
Non-life insurance companies1 89115720660 0151 681
 
General government676 2632 704155118 17021 846
Central government675 8851 4363108 68421 834
Local government3771 2671529 48612
 
Non-profit institutions serving households27 0732 11322 0716 299568
 
Households105 21222 55511 5757 416257
Unincorporated enterprises within households12502..0
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.00000
Employees, recipients of property income, pensions and social contributions, students etc.105 20022 50411 5737 416257
 
Rest of the world957 78657 5338 251716 21913 702
 
Unspecified sector14917112210

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
3rd quarter 2020
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
 
Total-5 6534 3572892 963-14 004
 
Non-financial corporations-38411 614-351 836-3 629
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government-3 701-50473-2 206
Public unincorporated enterprises, owned by local government0..000
Public incorporated enterprises, owned by local government-961-126790
Private non-financial incorporated enterprises3 37811 574-19795-1 293
Private non-financial unincorporated enterprises-145090
Private non-profit institutions serving enterprises36..-4-120-130
 
Financial corporations-818-9 709-16-15 659-3 957
Norges Bank0..000
Banks-2 8076-96-47 601228
Mortgage companies00..22 274715
Finance companies000..0
State lending institutions etc.16108000
Financial holding companies-2 6961..-1 5000
Mutual funds2 097-48287 68297
Investment trusts and private equity funds-548934-214118
Other financial enterprises, except insurance companies and pension funds2 480-9 88921227-113
Life insurance companies and pension funds2042345 847-1 873
Non-life insurance companies-60-1-8-2 375-3 130
 
General government-11 49518-114 096-4 942
Central government-11 5202..4 536-4 942
Local government2416-11-4410
 
Non-profit institutions serving households-3677331-99-30
 
Households2 155175-16-88..
Unincorporated enterprises within households-1-1..-10
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0....00
Employees, recipients of property income, pensions and social contributions, students etc.2 156175-16-87..
 
Rest of the world4 9652 0483812 886-1 447
 
Unspecified sector-39135-1-100

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
4th quarter 20191st quarter 20202nd quarter 20203rd quarter 2020
 
Total19 51215 02228 18912 807
 
Non-financial corporations18 91414 15627 2636 088
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government13 5777 99415 2512 599
Public unincorporated enterprises, owned by local government0000
Public incorporated enterprises, owned by local government0..314..
Private non-financial incorporated enterprises5 3376 16211 6983 489
Private non-financial unincorporated enterprises0000
Private non-profit institutions serving enterprises0000
 
Financial corporations80..1046 125
Norges Bank0000
Banks........
Mortgage companies0000
Finance companies0000
State lending institutions etc.0000
Financial holding companies........
Mutual funds0000
Investment trusts and private equity funds........
Other financial enterprises, except insurance companies and pension funds80..104..
Life insurance companies and pension funds0000
Non-life insurance companies......6 125
 
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 world518867822594

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
4th quarter 20191st quarter 20202nd quarter 20203rd quarter 2020
 
Total19 51215 02228 18912 807
 
Non-financial corporations1 5842 4603 2451 687
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government....4720
Public unincorporated enterprises, owned by local government........
Public incorporated enterprises, owned by local government....501
Private non-financial incorporated enterprises1 5722 4523 1311 660
Private non-financial unincorporated enterprises1......
Private non-profit institutions serving enterprises107176
Financial corporations1 1058071 9264 876
Norges Bank0000
Banks37276232
Mortgage companies0000
Finance companies0000
State lending institutions etc.........
Financial holding companies........
Mutual funds7806171 409519
Investment trusts and private equity funds224217
Other financial enterprises, except insurance companies and pension funds153732564 242
Life insurance companies and pension funds1078216671
Non-life insurance companies74125
General government9 4405 99112 5442 291
Central government9 4385 99012 5402 291
Local government2141
Non-profit institutions serving households18104610
Households592594969762
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.592594969762
Rest of the world6 7405 0609 3423 077
Unspecified sector33100118104

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
3rd quarter 20194th quarter 20191st quarter 20202nd quarter 20203rd quarter 2020
Debt securities issued in Norway
Long-term debt securities issued in Norway97 286132 146220 491179 249100 214
- domestic issuers81 277102 565196 233156 07781 394
Short-term debt securities issued in Norway63 51577 03974 38085 13056 988
- domestic issuers63 51476 88774 38085 09956 924
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad36 02396 40468 585131 36672 394
Sertifikater emittert i utlandet202 777225 063171 611294 240257 333
 
Non-financial corporations
Long-term debt securities issued in Norway11 24519 69618 51026 04213 429
Long-term debt securities issued abroad9 931018 31796 2684 741
Short-term debt securities issued in Norway8 59313 02110 7078 0674 362
Short-term debt securities issued abroad31 97178 20943 78610 37559 931
 
Financial corporations
Long-term debt securities issued in Norway56 93558 638122 312101 60054 661
Long-term debt securities issued abroad26 09396 40450 26835 10067 654
Short-term debt securities issued in Norway1 025660825100100
Short-term debt securities issued abroad170 807146 855127 825283 864197 402
 
General government
Long-term debt securities issued in Norway13 09724 23255 41128 43513 304
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway53 89663 20562 84876 93252 463
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway16 01029 57924 25623 17318 819
Short-term debt securities issued in Norway115203164

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
3rd quarter 20194th quarter 20191st quarter 20202nd quarter 20203rd quarter 2020
 
Debt securities issued in Norway
Long-term debt securities issued in Norway2 126 5482 130 5162 308 9592 385 2692 386 521
domestic issuers1 802 8241 807 7371 950 4792 030 8952 030 785
Stort-term debt securities issued in Norway133 180142 599141 594146 260132 308
domestic issuers132 973142 451141 421146 066132 214
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad1 808 9621 822 9502 088 1962 025 6952 048 875
Stort-term debt securities issued abroad168 030109 895113 13485 871190 664
 
Non-financial corporations
Long-term debt securities issued in Norway328 316323 344342 517348 296347 557
Long-term debt securities issued abroad350 383336 512404 460481 111471 033
Stort-term debt securities issued in Norway13 90416 25812 37612 32310 574
Stort-term debt securities issued abroad15 48713 81621 62717 75831 854
 
Financial corporations
Long-term debt securities issued in Norway970 593960 3221 034 6461 084 1991 083 263
Long-term debt securities issued abroad1 458 5791 486 4381 683 7371 544 5841 577 841
Stort-term debt securities issued in Norway2 3551 3951 5451 010310
Stort-term debt securities issued abroad152 54396 07991 50768 113158 810
 
Central government
Long-term debt securities issued in Norway503 916524 070573 316598 401599 966
Long-term debt securities issued abroad00000
Stort-term debt securities issued in Norway116 714124 798127 500132 733121 331
Stort-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway323 725322 779358 480354 374355 736
Stort-term debt securities issued in Norway20814817319494

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 643 096486 930-372 4347774 758 369
Debt securities issued by Norwegian entitites4 288 527468 045-356 6142 5804 402 538
Debt securities issued in Norway2 531 529157 202-167 928-1 9742 518 829
Debt securities issued by Norwegian entities in Norway2 176 961138 318-152 109-1712 162 999
 
Non-financial corporations
Long-term debt securities issued in Norway348 29613 429-13 065-1 103347 557
Long-term debt securities issued abroad481 1114 741-10 339-4 480471 033
Short-term debt securities issued in Norway12 3234 362-6 112110 574
Short-term debt securities issued abroad17 75859 931-46 42458931 854
 
Financial corporations
Long-term debt securities issued in Norway1 084 19954 661-56 5269291 083 263
Long-term debt securities issued abroad1 544 58467 654-43 6459 2481 577 841
Short-term debt securities issued in Norway1 010100-8000310
Short-term debt securities issued abroad68 113197 402-104 098-2 607158 810
 
Central government
Long-term debt securities issued in Norway598 40113 304-11 7390599 966
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway132 73352 463-63 8661121 331
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway354 37418 819-15 663-1 794355 736
Short-term debt securities issued in Norway19464-157-794

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 Norway128 32649 997769 676926 162589 74754 9202 518 828
Non-financial corporations9 4651 497140 058149 46848 6039 039358 130
Banks150210169 890136 47125 05222 268354 041
Other financial corporations10042 300192 506418 63659 27316 716729 531
Central government and social security funds66 31732211 91544 270419 863.542 687
Local government52 2514 43052 81851 14617 724240178 609
Non-profit institutions serving households
Households
Rest of the world441 237202 488126 17119 2326 657355 829
 
Remaining maturity
Outstanding amounts in total from debt securities issued in Norway479 003494 0761 075 847396 78524 31648 8012 518 828
Non-financial corporations47 03157 800178 16064 8334 6355 672358 131
Banks62 48669 077155 70544 35130022 123354 042
Other financial corporations91 053251 906318 17241 77511 21015 416729 532
Central government and social security funds150 4743 095192 470196 648..542 687
Local government76 40122 91051 13926 1592 000.178 609
Non-profit institutions serving households00....0
Households00....0
Rest of the world51 56089 288180 20123 0196 1715 591355 830

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 abroad190 55310 163616 217792 463434 639194 8372 238 872
Non-financial corporations31 854035 132165 803154 473231 252502 887
Banks151 7918 266203 31398 65656 65511 757530 438
Other financial corporations6 9081 896377 773528 005223 51267 4551 205 549
 
Remaining maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad519 567295 263759 069471 701113 50780 3202 239 427
Non-financial corporations60 26814 084143 580179 22559 12946 601502 887
Banks245 67575 763176 59320 9958 3473 619530 992
Other financial corporations213 624205 416438 896271 48146 03030 1001 232 317

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), Oslo Axess or Merkur Market.

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.