90368_not-searchable
/en/bank-og-finansmarked/statistikker/k2/maaned
90368
Unchanged debt growth
statistikk
2012-12-03T10:00:00.000Z
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, October 2012

Content

Published:

This is an archived release.

Go to latest release

Unchanged debt growth

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

The general public’s gross domestic debt C2 amounted to NOK 4 060 billion at end-October, up from NOK 4 034 billion the previous month.

Higher debt growth for households

Households’ gross domestic debt totalled NOK 2 350 billion at end-October, up from NOK 2 332 billion the previous month. The twelve-month growth was 7.1 per cent to end-October, up from 7.0 per cent the month before.

Reduced debt growth for non-financial enterprises

Non-financial enterprises’ gross domestic debt amounted to NOK 1 372 billion at end-October, up from NOK 1 366 billion at end-September. The twelve-month growth was 6.5 per cent to end-October, down from 6.6 per cent the month before.

Credit indicator C2. Percentage change

Reduced debt growth for municipalities

Municipalities’ gross domestic debt totalled NOK 338 billion at end-October, up from NOK 336 billion the month before. The twelve-month growth was 7.0 per cent to end-October, down from 7.4 per cent to end-September.

Credit indicator C2. Percentage change
  May 2012 June 2012 July 2012 August 2012 September 2012 October 2012
12 mth. total 6.9 7.3 7.2 7.1 6.9 6.9
3 mth. moving average tot.1 6.0 6.3 6.8 7.2 7.0  
12 mth. households 7.0 7.1 7.2 7.1 7.0 7.1
12 mth. non-financial enterprises 6.9 7.4 7.0 6.6 6.6 6.5
1  Annualised figure.

Growth rates affected by portfolio shifts

Of the general public’s gross domestic debt, about half consisted of bank loans at end-October. Bank loans amounted to NOK 2 003 billion at end-October, up from NOK 1 998 billion the previous month. The twelve-month growth in bank loans was 0.8 per cent to end-October, up from 0.3 per cent to end-September. Mortgage companies’ loans amounted to NOK 1 347 billion at end-October, up from NOK 1 345 billion at end-September. The twelve-month growth in mortgage company loans was 14.5 per cent to end-October, down from 16 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 5.9 per cent to end-October, down from 6.1 per cent the previous month.

High growth in bond dept

The twelve-month growth rate in the bond debt was 5.8 per cent to end-October, up from 2.2 per cent to end-September. The high growth mainly stems from increased bond debts in non-financial enterprises. The twelve-month growth rate in certificate debt was 30.9 per cent to end-October, down from 32.7 per cent the previous month. The high growth level stems mainly from the municipalities, which have increased their debt in certificates over the last twelve months.

Introduction of new financial arrangement

The state-owned company Export Credit Norway was established on 25 June 2012. Export Credit Norway facilitates loans to non-financial enterprises. The facilitation of loans started in December 2011. Data have been revised and the growth rate for non-financial enterprises’ debt has been upward adjusted for the period December 2011-August 2012. These data are to be found in the K2 tables as a part of ‘Other sources’.