Households’ financial assets continued to increase in fourth quarter of 2009

Households’ financial assets¹ increased by EUR 3.9 billion in October-December 2009. In net terms, households invested EUR 2.8 billion in financial assets. This, combined with the rise in share prices, boosted financial assets by EUR 1.2 billion. Households’ net financial assets totalled EUR 156.2 billion at end-December 2009, signifying an increase of EUR 15.3 billion (10.9%) from the exceptionally low level at end-2008.

Household deposits were almost unchanged in 2009, totalling EUR 70.9 billion at end-December. In the fourth quarter of 2009, households increased their deposits by EUR 1.2 billion, while their subscriptions of fund shares amounted to EUR 0.6 billion. Owing to higher prices, the stock of households’ investments in funds increased by EUR 0.8 billion in October-December, to end the year at EUR 12.8 billion.

Households’ loan debt increased by EUR 1.4 billion in the fourth quarter of 2009. At EUR 98.3 billion at end-2009, the stock was 5.4% higher than a year earlier. However, households’ financial assets increased slightly more than loan debt, signifying a continuation of the growth in net financial assets in October-December. At EUR 57.9 billion at end-2009, net financial assets were EUR 10.3 billion (21.6%) higher than a year earlier.

The stock of corporate loans decreased in the fourth quarter of 2009 by EUR 2.5 billion. At end-December, corporate loan stock (excl. loans between Finnish non-financial corporations) totalled EUR 92.8 billion, which was 4.1% less than a year earlier. Total debt financing by non-financial corporations (loans + debt securities) contracted by 1.0% in 2009.

The outstanding amount of shares issued by domestic non-financial corporations increased in October-December by EUR 1.9 billion, of which net emissions accounted for EUR 1.2 billion. At end-December 2009, the stock amounted to EUR 118.5 billion, which was 20.4% higher than a year earlier.

The above information has been excerpted from the quarterly financial accounts statistics compiled by the Bank of Finland. These provide an overview of the stocks of financial assets and liabilities of the different sectors of the national economy and of the related transaction flows.

¹⁾ Data excludes unquoted shares and other equity, and other accounts receivable. Shares in housing corporations are also excluded from financial assets.

More information:
Hanna Häkkinen, tel. +358 10 831 2552, email: firstname.surname@bof.fi