84556_not-searchable
/en/bank-og-finansmarked/statistikker/k2/arkiv
84556
Continued decrease in debt growth
statistikk
2012-10-31T10:00:00.000Z
Banking and financial markets
en
k2, The credit indicator C2, general public’s gross domestic debt, credit expansion, credit transactions, liabilities, creditFinancial indicators, Banking and financial markets
false

The credit indicator C2, September 2012

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Continued decrease in debt growth

The twelve-month growth in the credit indicator C2 was 6.9 per cent to end-September, down from 7.1 per cent the previous month.

The general public’s gross domestic debt C2 amounted to NOK 4 034 billion at end-September, up from NOK 4 014 billion the previous month.

Lower debt growth for households

Households’ gross domestic debt totalled NOK 2 331 billion at end-September, up from NOK 2 318 billion the previous month. The twelve-month growth was 7.0 per cent to end-September, down from 7.1 per cent the month before.

Introduction of new financial arrangement affects non-financial enterprises’ debt growth

Non-financial enterprises’ gross domestic debt amounted to NOK 1 366 billion at end-September, up from NOK 1 358 billion at end-August. The twelve-month growth was 6.5 per cent to end-September, unchanged from the month before. Non-financial enterprises’ domestic debt was affected by the establishment of a new state-owned financial arrangement. Data have been revised and the growth rate for non-financial enterprises’ domestic debt has been adjusted upwards for the period December 2011-September 2012.

Credit indicator C2. Percentage change

Reduced debt growth for municipalities

Municipalities’ gross domestic debt totalled NOK 337 billion at end-September, unchanged from the month before. The twelve-month growth was 7.4 per cent to end-September, down from 9.2 per cent to end-August.

Credit indicator C2. Percentage change
     April 2012    May 2012    June 2012    July 2012    August 2012    September 2012
12 mth. total 6.9 6.9 7.3 7.2 7.1 6.9
3 mth. moving average, total1 6.8 6.0 6.3 6.8 7.1  
12 mth. households 6.8 7.0 7.1 7.1 7.1 7.0
12 mth. non-financial enterprises 6.9 6.9 7.4 7.0 6.5 6.5
1  Annualised figure.

Growth rates are affected by portfolio shifts

Of the general public’s gross domestic debt, about half consisted of bank loans at end-September. Bank loans amounted to NOK 1 988 billion at end-September, down from NOK 1 996 billion the previous month. The twelve-month growth in bank loans was 0.3 per cent to end-September, down from 0.7 per cent to end-August. Mortgage companies’ loans amounted to NOK 1 345 billion at end-September, up from NOK 1 328 billion at end-August. The twelve-month growth in mortgage company loans was 16 per cent to end-September, down from 17.1 per cent the month before. The growth rates are affected by transfers of loans from banks to mortgage companies. The growth rate for banks and mortgage companies in total was 6.1 per cent to end-September, down from 6.6 per cent the previous month.

Increased growth in certificate debt

The twelve-month growth rate in certificate debt was 32.7 per cent to end-September, up from 25.6 per cent the previous month. This increase stems mainly from the municipalities, which have increased their debt in certificates during the same period. The twelve-month growth rate in the bond debt was 2.2 per cent to end-September, up from -0.2 per cent to end-August.

Introduction of new financial arrangement

The state-owned company Export Credit Norway AS was established on 25 June 2012 to facilitate loans to non-financial enterprises. The loan facilitating activity began in December 2011. Data have been revised and the growth rate for non-financial enterprises’ debt has been adjusted upwards for the period December 2011-September 2012. These data are to be found in the K2 tables as a part of ‘Other sources’.