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: 10 December 2025
Next update: 5 March 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
    3rd quarter 20244th quarter 20241st quarter 20252nd quarter 20253rd quarter 2025
    Assets7 4037 5397 5877 8687 979
    Liabilities4 6794 7564 7654 8584 891
    Net financial assets2 7242 7832 8223 0103 088
    Net lending-924756-16
    Other changes9458-913293
    Debt to income ratio1 221.7220.2218.2215.9215.8
    Debt growth (per cent)1 3.94.24.34.54.6
    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.
    3rd quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NPISHRest of the world
    Net finanical assets-6 178 623491 67722 866 7883 260 931-20 440 773
    Assets12 429 91219 631 56425 938 8188 187 83111 350 314
    Cash and currency, etc.4 73078 30176428 89270 974
    Deposits1 198 2451 219 556515 3651 973 2401 906 739
    Debt securities270 5843 499 0365 853 27116 2473 638 079
    Loans3 415 8468 835 5081 631 689157 4341 875 056
    Equity4 951 1533 304 11716 965 2162 252 4452 927 450
    Investment fund shares or units323 9462 046 53035 578752 452132 570
    Insurance and pension entitlements69 15139 02760 6402 649 90354 887
    Other accounts receivable2 184 699341 881848 992350 941543 240
    Liabilities18 608 53519 139 8873 072 0304 926 90031 791 087
    Cash and currency, etc.0108 0470075 614
    Deposits05 963 39800849 747
    Debt securities1 113 9883 465 977945 8993 9397 747 414
    Loans6 189 0021 256 8871 551 6964 765 8062 152 142
    Equity9 011 5492 583 3840018 805 448
    Investment fund shares or units02 287 508001 003 568
    Insurance and pension entitlements02 844 3240029 284
    Other accounts payable2 269 111355 291549 240157 071939 040
    Net lending, sum 4 last quarters-141 040154 650661 990101 367-776 967
    1Including reconciliation sector
    Explanation of symbols
  • Households' financial assets, liabilities and net lending. NOK million.
    Households' financial assets, liabilities and net lending. NOK million.
    3rd quarter 20244th quarter 20241st quarter 20252nd quarter 20253rd quarter 2025
    Net financial assets2 724 1062 783 4812 821 9313 009 9493 087 652
    Assets7 403 4727 539 1127 586 9627 868 0197 978 562
    Cash and currency28 10128 84127 99528 48028 240
    Deposits1 738 2121 743 5081 801 5261 897 3121 882 928
    Debt securities9 6958 9308 6409 1159 134
    Loans154 301154 216155 239156 324157 434
    Equity2 117 9052 139 1662 156 6492 197 9842 215 947
    Investment fund shares or units581 589622 797593 282643 620689 237
    Insurance and pension entitilements2 437 4952 476 6802 484 6622 584 9182 649 830
    Other accounts receivable328 988359 590352 679344 052339 755
    Liabilities4 679 3664 755 6314 765 0314 858 0704 890 910
    Loans4 534 2494 571 7424 606 0754 673 5134 734 989
    Other accounts payable145 027183 797158 877184 474155 847
    Net lending-9 2161 77647 03356 371-15 745
    Explanation of symbols
  • Interlinkages of creditor and debtors. Loan. NOK million.
    Interlinkages of creditor and debtors. Loan. NOK million.
    3rd quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHRest of the world
    Creditor sector
    Assets
    Non-financial corporations1 2 996 8053 70914 65819 056381 618
    Financial corporations2 072 148628 400594 9984 537 8381 002 124
    General government44 790510 116121 567186 816768 400
    Households & NIPSH143 00414 4201000
    Rest of the world932 255100 242820 46322 0960
    Flows
    Non-financial corporations1 59-115-501200-5 344
    Financial corporations3 002-35 103-1 40061 516186 765
    General government-1 8483 540041066 984
    Households & NIPSH1 000109100
    Rest of the world22 144-7 623-5 02000
    1Including reconciliation sector.
    Explanation of symbols
  • Interlinkages of creditors and debtors. Debt securities. NOK million.
    Interlinkages of creditors and debtors. Debt securities. NOK million.
    3rd quarter 2025
    Debtor sector
    Non-financial corporations1 Financial corporationsGeneral governmentRest of the world
    Creditor sector
    Stocks
    Non-financial corporations1 37 36019 44922 887190 888
    Financial corporations266 266986 390361 3491 881 092
    General government34 76262 33784 0995 672 073
    Household & NIPSH5 0777 5882213 361
    Rest of the world770 5232 390 213477 3430
    Flows
    Non-financial corporations1 -2 264-920-868-5 415
    Financial corporations-5 360-2 0103 749-4 968
    General government4 5132 722-1 549132 081
    Household & NIPSH29-11-25-64
    Rest of the world-1 4896 11613 6230
    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.
    3rd quarter 2025
    Issuing sector
    Non-financial corporations1 Financial corporationsRest of the world
    Holding sector
    Stocks
    Non-financial corporations1 3 178 794172 4651 418 964
    Financial corporations753 037645 3631 864 896
    General government1 030 807244 87914 953 949
    Households & NIPSH1 397 705339 195118 623
    Rest of the world2 158 967596 1840
    Flows
    Non-financial corporations1 4 3357 885-6 821
    Financial corporations-4 2275 25145 945
    General government-48 0941 436-6 102
    Households & NIPSH-298237-2 483
    Rest of the world4 0064700
    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.
    3rd quarter 2025
    Non-financial corporations1 Financial corporationsGeneral governmentHouseholds & NIPSHSum domestic sectors
    Net financial assets-1 355 2321 145 98120 072 676577 34720 440 773
    Assets2 862 0896 686 51421 643 040599 44331 791 087
    Cash and currency, etc.075 6140075 614
    Deposits48 678756 55328 67115 845849 747
    Debt securities190 8881 881 0925 672 0733 3617 747 414
    Loans381 6181 002 124768 40002 152 142
    Equity1 500 9251 866 82014 956 550481 15318 805 448
    Investment fund shares or units105 695792 3826 40799 0841 003 568
    Insurance and pension entitlements029 2840029 284
    Other accounts receivable629 816123 969185 2550939 040
    Liabilities4 217 3215 540 5331 570 36422 09611 350 314
    Cash and currency, etc.070 9740070 974
    Deposits01 906 739001 906 739
    Debt securities770 5232 390 213477 34303 638 079
    Loans932 255100 242820 46322 0961 875 056
    Equity2 331 266596 184002 927 450
    Investment fund shares or units0132 57000132 570
    Insurance and pension entitlements054 8870054 887
    Other accounts payable157 840136 947248 4530543 240
    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