399365
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
399365
statistikk
2020-02-06T08:00:00.000Z
Banking and financial markets
en
banker, Banks and mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowersFinancial institutions and other financial corporations, Banking and financial markets
true

Banks and mortgage companies

Updated

Next update

Key figures

1 309

NOK billion in deposits from households, December 2019

Selected figures. NOK million.
December 2018December 2019
Banks
Loans to households1 543 9601 500 938
Loans to manufacturing industry71 31072 651
Deposits from households1 253 2071 309 216
Mortgage companies
Loans to households1 467 4961 656 973
Loans to manufacturing industry2 0632 327
State lending institutions
Loans to households240 590248 586
Loans to manufacturing industry1 7371 810

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
September 2019October 2019November 2019December 2019
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries1 465 7151 485 0701 492 4681 475 610
 
Agriculture52 08752 52853 12653 786
Forestry3 3983 3993 4083 422
Fishing and hunting33 50133 32333 73834 151
Fish farming services23 83124 10825 05125 013
Mining and quarrying110 30010 2349 8939 311
Services linked to extraction of crude petroleum and natural gas12 9782 9982 8852 680
Extraction of crude petroleum and natural gas7 9588 7429 55811 742
Manufacturing industry77 56077 71376 80972 651
Ship and boat building9 4759 89410 0807 518
Electricity and water supply45 73646 50846 93645 333
Water supply, drainage and waste disposal4 4844 5415 0735 062
Real estate development124 300124 864126 738127 210
Building and construction work beyond real estate development47 31447 44945 12743 274
Commodity trade etc75 45078 04777 54074 117
Sea transport abroad and transport via pipelines161 87664 86163 73862 244
Transportation and storage168 56068 27268 01467 277
Hotels and restaurants14 36315 56315 71715 508
Information and communication21 02121 24621 46217 436
Real estate, renting and business activities619 592626 625628 737631 100
Professional and financial services85 50487 53390 11288 508
Businesslike services34 52834 80136 80736 652
Other service activities41 89841 82141 92041 612

Table 2 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
September 2019October 2019November 2019December 2019
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries128 361128 887130 057128 831
 
Agriculture2 4062 3782 4022 411
Forestry251245248239
Fishing and hunting282271273288
Fish farming services818181156
Mining and quarrying152535554
Services linked to extraction of crude petroleum and natural gas134343434
Extraction of crude petroleum and natural gas........
Manufacturing industry2 3532 3872 4232 327
Ship and boat building61626264
Electricity and water supply233232247247
Water supply, drainage and waste disposal6 0246 1336 1356 143
Real estate development984903910922
Building and construction work beyond real estate development4 1504 1814 2254 280
Commodity trade etc2 3032 3502 3512 329
Sea transport abroad and transport via pipelines12 8122 7552 6192 303
Transportation and storage19 1759 1739 1158 973
Hotels and restaurants740539542528
Information and communication658633858845
Real estate, renting and business activities82 42083 07483 98683 259
Professional and financial services3 2213 2233 2763 261
Businesslike services3 0723 0823 1553 140
Other service activities7 0507 1007 0587 029

Table 3 
State lending institutions. Loans by industry. NOK million

State lending institutions. Loans by industry. NOK million
September 2019October 2019November 2019December 2019
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries81 15980 48380 83880 445
 
Agriculture4 3114 3174 3224 326
Forestry91908983
Fishing and hunting6 3926 3746 3406 417
Fish farming services553552553567
Mining and quarrying134333332
Services linked to extraction of crude petroleum and natural gas1-2-2-2-2
Extraction of crude petroleum and natural gas........
Manufacturing industry1 7761 8321 8251 810
Ship and boat building176177175172
Electricity and water supply132134132131
Water supply, drainage and waste disposal11141313
Real estate development1 6991 6961 6431 647
Building and construction work beyond real estate development554558492495
Commodity trade etc278276279280
Sea transport abroad and transport via pipelines1224474746
Transportation and storage1528775761576
Hotels and restaurants1 5111 4971 5061 493
Information and communication775787811828
Real estate, renting and business activities42 11841 49041 89441 610
Professional and financial services1 4001 3861 4321 431
Businesslike services140140140140
Other service activities18 45718 31018 35418 350

About the statistics

The statistics on banks and mortgage companies compile balance sheets and profit and loss accounts for credit institutions, finance companies and state lending institutions. The balance sheet shows assets, liabilities and equity. The profit and loss account shows revenues and expenses.

Definitions

Definitions of the main concepts and variables

Balance sheet, monthly and yearly

The balance sheet shows assets, liabilities and equity at the end of the accounting period. The most important balance sheet items are presented by sector.

Profit and loss account, quarterly

The profit and loss account shows accumulated revenues and expenses throughout the year.

 

Standard classifications

There are four types of classifications: object/instrument, sector, industry and type.

Finance objects and real objects (instruments)

Liabilities, claims and other assets in banks and financial corporations' balance sheets are divided into main equable groups, for example loans, bank deposits, bonds, shares etc.

Debtor and creditor sector

Borrowers and lenders are classified by institutional sector classification based on the national accounts' regulations. See our pages for the reporting insttitutions;

http://www.ssb.no/a/innrapportering/orbof/

Debtor and creditor industry

Based on regulations in the industry standard, loans and deposits are grouped according to which industry the debtor or creditor belongs to. See our pages for the reporting insttitutions;

http://www.ssb.no/a/innrapportering/orbof/

Income and cost types
Income and cost types are based on national account regulations. Examples of income and cost types are interest income and interest costs.

Administrative information

Name and topic

Name: Banks and mortgage companies
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

The whole country

Frequency and timeliness

The monthly balance sheet statistics is published 5 weeks after the reporting period. The profit and loss account is published 8 weeks after the reporting period. Yearly aggregated loans and deposits by county are published 6 months after the reporting period.

International reporting

Reporting to the BIS, Eurostat, the IMF and the OECD.

Microdata

Not relevant

Background

Background and purpose

The reporting procedure is made in collaboration between the Financial Supervisory Authority of Norway, Norges Bank and Statistics Norway. The data from banks and financial corporations form the basis for the supervision of the institutions and the financial markets. The data is also an information base for the monetary and credit market policy and a vital contribution to the statistics for credit indicators and monetary growth. The reporting is the main base for the official statistics on financial enterprises. It is also an important input in the national accounts and the balance of payments and the credit market statistics. The data is used for international reporting to the BIS, Eurostat, the IMF and the OECD etc.

Users and applications

The main area of application is statistics (publishing and input in other statistics), analysis and supervision (by the Financial Supervisory Authority of Norway). The data is included in the national accounts, financial sector accounts and the balance of payments. Important users other than Statistics Norway are Norges Bank, the Financial Supervisory Authority of Norway, Ministry of Finance, the financial services industry, researchers at universities and in international organisations, and the media.

Equal treatment of users

Not relevant

Coherence with other statistics

The statistics are based on the guidelines in the national accounts standards System of National Accounts from 2008 (SNA 2008), European System of Accounts from 2010 (ESA 2010) and the IMF Manual on Monetary and Financial Statistics.
Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

Legal authority

The main part of the data covered here is collected under the provisions of the Act on the Supervision of Credit Institutions, Insurance Companies and Securities Trading etc. (Financial Supervision Act) of 7 December 1956 no. 1 (with amendments per 1 July 2003). Reporting from Norges Bank and from state lending institutions is obtained under the provisions of the Act concerning official statistics and Statistics Norway of 16 June 1989 no. 54 (the Statistics Act).

EEA reference

Council directive 635/86 Accounting directive for banks and other credit institutions.

Council directive 2006/48/EF Supervisory directive relating to the taking up and pursuit of the business of credit institutions

Council regulation 295/2008. Council regulation 251/2009 Amendments to council regulation 295/2008.

Council regulation 2223/96 The regulation covers the European system for national and regional accounts.
Council regulation 1392/2007 Amendments to council regulation 2223/96.

Council regulation 1606/2002 Regulation on the application of international accounting standards
Council regulation 297/2008 Amendments to council regulation 1606/2002

Production

Population

The financial statistics is based on balance sheet and profit and loss account data from Norges Bank, all banks, state lending institutions, mortgage companies and financial companies in Norway, including foreign companies' branches in Norway.

Data sources and sampling

The data is based on reconciliated accounting data from financial institutions.

The accounting statistics are based on the total count.

 

Collection of data, editing and estimations

The Financial Supervisory Authority of Norway and Statistics Norway work together to collect the accounting data. All data is reported electronically via the official Norwegian portal Altinn. The reporting institutions receive automatic feedback on errors or possible errors in the reporting. These errors should be corrected within two days. After Statistics Norway complete to process the data, the reporting institutions may be asked to control, verify or correct other data not included in the automatic feedback. Corrections from the reporting institutions are received continuously.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

The accounting statistics for financial institutions is based on current accounting regulations for financial institutions. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the financial institutions. Structural changes like new companies, mergers and spin-offs, and portfolio movements, may also lead to breaches in the time series.

International Financial Reporting Standard (IFRS)
The new accounting standard IFRS is an example of a change that has causedbreaches in the time series. From 2009, the reporting companies may report according to the IFRS standard and other entities may follow NGAAP. The IFRS standard will lead to larger fluctuations in the data because of more extensive use of fair value in the accounting. The comparison of the reported data with the companies' official accounts is also challenging when the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standards do.

Regulation on loans
The IFRS-adapted regulation on loans was introduced 1. January 2005. It lead to a small change in the measuring of the value of loans and guaranties in the accounting data and thereby to a small breach in the time series for loans and loan loss provisions. There were also a breach in the time series on loans in 1992 due to changed accounting rules.

Changes in the presentation of the statistics
Data specifications are updated continuously. An example of changes in data series is Credit lines secured on dwellings became a new specification from January 2006 and was partly deducted from repayment loans secured on dwellings.

Structural changes
There are several mergers, spin-offs and new companies being started every year. Many of these structural changes have no significant impact on the statistics, while others lead to breaches in the time series. Major changes will be commented upon in the current statistics publication.

New institutional grouping of sectors
From January 2012, a new Norwegian standard for institutional grouping of sectors were made in line with revised international standards, which Norway is obliged to follow. From March 2012 onwards, this led to breaches in the accounting statistics for banks and financial institutions.

Some companies that were classified as non-financial institutions are now classified as financial institutions. Loan to these institutions should no longer be allocated between different industries, and are no longer included in the statistics for loans by industry. The industry for professional and financial services are affected in particular, since many of the institutions that were included earlier, have been moved from non-financial institutions to financial institutions.

New specification on industries
In May 2009, a new Norwegian standard for industries were introduced in the financial statistics. This change increased the possibilities to track the development in loans for important individual industries. It also led to breaches in time series for loans by industry. This makes comparison of loans by industry difficult in the period before and after May 2009 on monthly basis, and before and after May 2010 on yearly basis.

Norwegian covered bonds
Covered bonds are bonds conferring a preferential claim over a cover pool consisting of public sector loans and loans secured on dwellings or other real property. Only mortgage companies with special authorisation can issue covered bonds in Norway, and these bonds have been issued since June 2007.

On 24 October 2008, the Norwegian Parliament granted the Ministry of Finance the authority to put into effect an arrangement where Norwegian banks could “swap” covered bonds with treasury bills. This “swap agreement” was aimed at reducing the negative effects of the financial crisis. The banks can acquire covered bonds either in the market or directly from mortgage companies that are licensed to issue covered bonds. Since the announcement of this offer by the Norwegian government, a number of new mortgage companies have been established. As a result, lending portfolios have been swapped between banks and mortgage Companies.

Customisation of reporting from banks and finance companies (ORBOF) to international accounting standards (IFRS 9)
From January 2018 onwards, there has been completed a large restructuration of the reporting that creates the basis for the statistics. This implied an extensive restructuration and by definition a change in reported data, which affected both the balance sheet and the profit and loss account. It also led to changes in the scope of some objects in the reporting. Due to the new reporting standard, there are breaches in some time series that makes it challenging to compare data before and after January 2018. See this article for more information:

https://www.ssb.no/bank-og-finansmarked/omlegging-av-bankstatistikken

Accuracy and reliability

Sources of error and uncertainty

Errors and discrepancies can occur in the accounting data. These discrepancies can have a several sources:

*Errors in the reporting party's accounts

*Errors in the transfer of data from the institution's primary accounts to data reports and to recipients

*Different accounting and evaluation principles

*Different accounting dates for transactions

*Insufficient data from the reporting parties

*Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceding publishing. Large and important revision however, will be commented upon in the publishing of today's statistics.

Revision

The statistics show preliminary figures. Data may be revised in future publications.