369904
/en/bank-og-finansmarked/statistikker/verdipapirer/kvartal
369904
statistikk
2019-11-21T08:00:00.000Z
Banking and financial markets
en
verdipapirer, SecuritiesSecurities markets , Banking and financial markets
true

Securities

Updated

Next update

Key figures

1.9 %

Changes in stocks of listed shares

Stocks of securities registered with VPS by type of security. NOK billion and per cent
3rd quarter 20182nd quarter 20193rd quarter 2019Changes in per cent
2nd quarter 2019 - 3rd quarter 20193rd quarter 2018 - 3rd quarter 2019
Stocks (market value)
Shares (listed)2 8592 5682 6161.9-8.5
Shares (unlisted)456448440-1.7-3.5
Equity certificates5861610.05.3
Long-term debt securities2 0512 1112 1381.34.3
Short-term debt securities140144133-7.5-5.2
 
Total5 5645 3315 3881.1-3.2

See selected tables from this statistics

Table 1 
Stocks of securities registered with the VPS, by holding sector and type of security. Last quarter. Market value. NOK million

Stocks of securities registered with the VPS, by holding sector and type of security. Last quarter. Market value. NOK million
3rd quarter 2019
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securitiesShort-term debt securities
 
Total2 615 589440 23561 4642 138 268132 848
 
Non-financial corporations360 766225 7428 10241 26414 195
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government7 47542702 67013 734
Public unincorporated enterprises, owned by local government600450
Public incorporated enterprises, owned by local government92784311513 998411
Private non-financial incorporated enterprises350 415223 9207 92220 79650
Private non-financial unincorporated enterprises11012110960
Private non-profit institutions serving enterprises1 834430563 6590
 
Financial corporations271 093127 53612 5061 323 18981 725
Norges Bank00000
Banks9 07741 0321 303466 35127 175
Mortgage companies02279 7273 414
Finance companies000270
State lending institutions etc.1481 457000
Financial holding companies5940 87923 0250
Mutual funds140 8662 0436 209307 39423 333
Investment trusts and private equity funds5 4204 2812921 25935
Other financial enterprises, except insurance companies and pension funds92 51936 0033 0864 5853 135
Life insurance companies and pension funds21 1741 6841 394399 92919 723
Non-life insurance companies1 83115521860 8924 910
 
General government822 6302 061185105 06718 968
Central government822 1771 240294 93418 963
Local government45382118310 1336
 
Non-profit institutions serving households32 9131 73421 1307 413547
 
Households97 73123 10210 9268 42928
Unincorporated enterprises within households1763290
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.00000
Employees, recipients of property income, pensions and social contributions, students etc.97 71423 03910 9248 42028
 
Rest of the world1 030 31059 9638 601652 89217 384
 
Unspecified sector1469614130

Table 2 
Net purchases of securities registered with the VPS, by purchasing sector and type of security. Latest quarter. Market value. NOK million

Net purchases of securities registered with the VPS, by purchasing sector and type of security. Latest quarter. Market value. NOK million
3rd quarter 2019
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
 
Total898-10 0118920 466-10 900
 
Non-financial corporations659-5 2828-1 671-1 573
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government541-840-411-1 404
Public unincorporated enterprises, owned by local government0..020
Public incorporated enterprises, owned by local government232..-9935
Private non-financial incorporated enterprises64-5 15010-1 121-204
Private non-financial unincorporated enterprises312-40
Private non-profit institutions serving enterprises28-51-4-390
 
Financial corporations-296-2 6051891 823-10 401
Norges Bank0..000
Banks904164-9-9 714-7 799
Mortgage companies00..11 668-874
Finance companies000..0
State lending institutions etc...111000
Financial holding companies-2 5695..-3290
Mutual funds1 063-3201092 814638
Investment trusts and private equity funds820-2 2267825
Other financial enterprises, except insurance companies and pension funds-567-32074-120-61
Life insurance companies and pension funds90-2013-762-2 219
Non-life insurance companies-380-5-1 743-112
 
General government-6 248-11508-2 118
Central government-6 235....687-2 112
Local government-12-11-178-6
 
Non-profit institutions serving households-4-10046-129-58
 
Households982-8807-320-8
Unincorporated enterprises within households-2-10..0
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0....00
Employees, recipients of property income, pensions and social contributions, students etc.984-8807-320-8
 
Rest of the world5 809-1 141-16320 2563 258
 
Unspecified sector-4-10..0

Table 3 
Paid out dividends on listed shares registered with the VPS, by paying sector. NOK million

Paid out dividends on listed shares registered with the VPS, by paying sector. NOK million
4th quarter 20181st quarter 20192nd quarter 20193rd quarter 2019
 
Total23 04210 44659 68711 644
 
Non-financial corporations22 88410 40538 81511 490
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government19 0726 60415 0947 774
Public unincorporated enterprises, owned by local government0000
Public incorporated enterprises, owned by local government..000
Private non-financial incorporated enterprises3 8123 80123 7213 716
Private non-financial unincorporated enterprises0000
Private non-profit institutions serving enterprises0000
 
Financial corporations....19 632..
Norges Bank0000
Banks....1 393..
Mortgage companies0000
Finance companies0000
State lending institutions etc.0000
Financial holding companies....14 504..
Mutual funds0000
Investment trusts and private equity funds........
Other financial enterprises, except insurance companies and pension funds....184..
Life insurance companies and pension funds0000
Non-life insurance companies....3 550..
 
General government0000
Central government0000
Local government0000
 
Non-profit institutions serving households0000
 
Households0000
Unincorporated enterprises within households0000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.0000
 
Rest of the world158411 241154

Table 4 
Paid out dividends on listed shares registered with the VPS, by receiving sector. NOK million

Paid out dividends on listed shares registered with the VPS, by receiving sector. NOK million
4th quarter 20181st quarter 20192nd quarter 20193rd quarter 2019
 
Total23 04210 44659 68711 644
 
Non-financial corporations1 1529648 3961 060
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government....49..
Public unincorporated enterprises, owned by local government........
Public incorporated enterprises, owned by local government....71..
Private non-financial incorporated enterprises1 1419598 2371 055
Private non-financial unincorporated enterprises....3..
Private non-profit institutions serving enterprises105365
Financial corporations1 1984997 101523
Norges Bank0000
Banks851712512
Mortgage companies0000
Finance companies0000
State lending institutions etc.........
Financial holding companies........
Mutual funds8363813 369408
Investment trusts and private equity funds841554
Other financial enterprises, except insurance companies and pension funds120372 93037
Life insurance companies and pension funds1375647858
Non-life insurance companies114433
General government12 1974 86518 2505 728
Central government12 1954 86418 2365 727
Local government2..131
Non-profit institutions serving households1671 5438
Households5743032 217327
Unincorporated enterprises within households........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0000
Employees, recipients of property income, pensions and social contributions, students etc.5743032 217327
Rest of the world7 7493 79622 0493 984
Unspecified sector1561213115

Table 5 
Issues of debt securities, by issuing sectors. Face values in NOK million

Issues of debt securities, by issuing sectors. Face values in NOK million
3rd quarter 20184th quarter 20181st quarter 20192nd quarter 20193rd quarter 2019
Debt securities issued in Norway
Long-term debt securities issued in Norway75 217103 449154 769113 95197 286
- domestic issuers58 19589 942122 40091 04881 277
Short-term debt securities issued in Norway64 19368 16370 46279 02463 515
- domestic issuers64 09365 76969 44278 92363 514
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad52 92051 028115 42375 67736 023
Sertifikater emittert i utlandet167 082132 884256 206177 008202 777
 
Non-financial corporations
Long-term debt securities issued in Norway4 81514 2108 53124 82911 245
Long-term debt securities issued abroad8 3861 3846 71326 1299 931
Short-term debt securities issued in Norway8 0069 25910 04316 1418 593
Short-term debt securities issued abroad53 82353 41633 95945 15831 971
 
Financial corporations
Long-term debt securities issued in Norway42 56558 40176 34444 45356 935
Long-term debt securities issued abroad44 53549 644108 71149 55026 093
Short-term debt securities issued in Norway5502 5723751 1351 025
Short-term debt securities issued abroad113 26079 470222 247131 847170 807
 
General government
Long-term debt securities issued in Norway10 81517 33037 52421 76613 097
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway55 53853 93959 02461 64853 896
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway17 02313 50732 36822 90216 010
Short-term debt securities issued in Norway1002 3931 0201011

Table 6 
Debt securities, by issuing sectors. Outstanding amounts. Face values in NOK million

Debt securities, by issuing sectors. Outstanding amounts. Face values in NOK million
3rd quarter 20184th quarter 20181st quarter 20192nd quarter 20193rd quarter 2019
 
Debt securities issued in Norway
Long-term debt securities issued in Norway2 044 5342 063 9352 126 3302 097 9952 126 548
domestic issuers1 745 0101 767 9331 810 5441 781 4081 802 824
Stort-term debt securities issued in Norway140 350144 283144 209143 959133 180
domestic issuers140 146141 653141 429141 924132 973
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad1 648 9921 751 1421 745 3501 755 0771 808 962
Stort-term debt securities issued abroad100 97978 648133 622142 737168 030
 
Non-financial corporations
Long-term debt securities issued in Norway317 838321 326321 766330 531328 316
Long-term debt securities issued abroad313 796326 458327 534344 114350 383
Stort-term debt securities issued in Norway11 82811 62712 35417 82113 904
Stort-term debt securities issued abroad3 9008 8514 9337 18115 487
 
Financial corporations
Long-term debt securities issued in Norway917 906937 543958 351954 049970 593
Long-term debt securities issued abroad1 335 1961 424 6831 417 8171 410 9631 458 579
Stort-term debt securities issued in Norway1 3603 0343 2241 9302 355
Stort-term debt securities issued abroad97 07969 797128 690135 556152 543
 
Central government
Long-term debt securities issued in Norway509 265509 065530 427496 828503 916
Long-term debt securities issued abroad00000
Stort-term debt securities issued in Norway126 959126 992125 852122 173116 714
Stort-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway299 524296 002315 786316 588323 725
Stort-term debt securities issued in Norway2042 6302 7802 035208

Table 7 
Debt securities. Issues, redemptions, gross changes and outstanding amounts, by issuing sector. Face values in NOK million

Debt securities. Issues, redemptions, gross changes and outstanding amounts, by issuing sector. Face values in NOK million
Opening balanceIssues (face value) (NOK million)Redemptions (NOK million)Changes in sector classification and exchange rates (NOK million)Closing balance
Debt securities issued in Norway and by Norwegian entities abroad4 139 769399 604-390 01887 3684 236 723
Debt securities issued by Norwegian entitites3 821 146383 591-373 24981 3013 912 789
Debt securities issued in Norway2 241 954160 801-151 0988 0712 259 728
Debt securities issued by Norwegian entities in Norway1 923 332144 791-134 3272 0011 935 797
 
Non-financial corporations
Long-term debt securities issued in Norway330 53111 245-15 4902 030328 316
Long-term debt securities issued abroad344 1149 931-19 03415 372350 383
Short-term debt securities issued in Norway17 8218 593-12 510013 904
Short-term debt securities issued abroad7 18131 971-31 3097 64415 487
 
Financial corporations
Long-term debt securities issued in Norway954 04956 935-40 363-28970 593
Long-term debt securities issued abroad1 410 96326 093-26 56048 0831 458 579
Short-term debt securities issued in Norway1 9301 025-60002 355
Short-term debt securities issued abroad135 556170 807-162 0168 196152 543
 
Central government
Long-term debt securities issued in Norway496 82813 097-6 0090503 916
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway122 17353 896-59 3561116 714
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway316 58816 010-14 8525 979323 725
Short-term debt securities issued in Norway2 0351-1 91991208

Table 8 
Debt securities issued in Norway, by borrowing sectors and remaining maturity. Outstanding amounts at face value (NOK million)

Debt securities issued in Norway, by borrowing sectors and remaining maturity. Outstanding amounts at face value (NOK million)
<= 1 year> 1 year <= 2 years> 2 years <= 5 years> 5 years <= 10 years> 10 years <= 20 years> 20 yearsTotal
Original maturity
Outstanding amounts in total from debt securities issued in Norway125 78514 353657 744896 093513 32052 4322 259 727
Non-financial corporations12 1563 946141 957131 26845 8427 051342 220
Banks2 045705168 121122 12530 16124 491347 648
Other financial corporations1501 500126 688424 95755 46316 540625 298
Central government and social security funds67 1221853 19541 850346 778.459 130
Local government44 1186 80049 67246 43514 224250161 499
Non-profit institutions serving households
Households
Rest of the world1941 217168 112129 45720 8534 099323 932
 
Remaining maturity
Outstanding amounts in total from debt securities issued in Norway418 016388 3491 020 011361 25925 62746 4662 259 728
Non-financial corporations62 54341 061172 93155 0637 3723 249342 219
Banks57 58673 745153 36337 5881 02524 343347 650
Other financial corporations103 795115 221328 17853 1559 71015 240625 299
Central government and social security funds68 44289 815123 745177 128..459 130
Local government67 19422 00350 74720 0561 500.161 500
Non-profit institutions serving households00....0
Households00....0
Rest of the world58 45846 503191 04818 2706 0203 634323 933

Table 9 
Outstanding amounts from debt securities issued abroad by domestic borrowing sectors and maturity. Outstanding amounts at face value in NOK million.

Outstanding amounts from debt securities issued abroad by domestic borrowing sectors and maturity. Outstanding amounts at face value in NOK million.
Original maturity <= 1 yearOriginal maturity > 1 year <= 2 yearsOriginal maturity > 2 years <= 5 yearsOriginal maturity > 5 years <= 10 yearsOriginal maturity > 10 years <= 20 yearsOriginal maturity > 20 yearsTotal
Original maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad167 68418 515567 519695 266369 051158 3651 976 400
Non-financial corporations15 487028 072105 159133 141168 022365 871
Banks151 9498 460149 608101 73159 97510 881482 604
Other financial corporations24710 055389 839488 376175 93563 4731 127 925
 
Remaining maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad440 589302 367672 089398 38898 46764 9951 976 895
Non-financial corporations42 45527 69585 157136 65742 87431 033365 871
Banks219 09682 548146 45719 60112 1703 226483 098
Other financial corporations179 037192 125440 476242 13043 42330 7361 155 694

About the statistics

The securities statistics provide a current overview of the issue and ownership of securities registered in VPS as well as Norwegian entities' debt securities abroad. Parts of the data basis are also input to the national accounts, balance of payments, financial sector accounts and credit indicators.

Definitions

Definitions of the main concepts and variables

Listed shares entails shares listed for trade at the Oslo Stock Exchange (OSE) or Oslo Axess.

Unlisted shares entails shares not listed for trade at an exchange, do not have a listed market price, and are therefore usually less liquid.

Long-term debt securities are debt securities with a duration longer than one year that can be divided between several lenders as standardized partial long-term debt securities without the borrower's approval. A long-term debt security is a negotiable financial instrument. 

Short-term debt securities are debt securities with duration less than one year. 

An issue is the opening of a new loan. 

The issuer is the institutional owner who raised the loan and registers it in his balance sheet (the original borrower). The institutional owner is not always an individual legal entity.

The borrower is the institution registering the loan in his balance sheet. This institution may differ from the issuing institution as a result of mergers, demergers, bankruptcies etc.

The market values of the stocks of securities in Norway are determined by available prices. For listed securities, they will mainly be market prices from the OSE. For unlisted securities, the latest available prices from transactions, annual assessment rates from tax purposes or nominal prices are chosen in a preferred order. From the 4th quarter of 2006, observed transaction rates are used to estimate market values of non-listed securities.

Transaction prices are based upon information about actual payments registered in the VPS, or calculated amounts if no actual payments are available. Where no actual payments are specified, market prices from OSE are used for individual trading dates in order to determine traded amounts for transactions. From the 4th quarter of 2006 observed transaction rates are used to estimate transaction values for non-listed securities

Dividends/coupon payments are actual paid out amounts during a period.

Standard classifications

Sector and industry categorization information is based on what is registered at the Coordinating Register for Legal Entities Enterprises. This classification is based on international requirements in SNA2008/ESA2010 and NACE Rev.2.

The securities number is the loan's unique identification. It is assigned by the Norwegian Central Securities Depository and based on the international standard ISO 6166:2001.

 CFI is an abbreviation for Classification of Financial Instruments and is based on the international standard ISO 10962:2001. The Norwegian Central Securities Depository is responsible for the assignment of CFI codes.

Administrative information

Name and topic

Name: Securities
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

National level, no regional divisions.

Frequency and timeliness

Quarterly. Normally published 6-7 weeks after the end of the statistics quarter

International reporting

BIS.

Microdata

Time series are stored in a database solution.

Background

Background and purpose

The statistics consists of data from the previously published statistics, “Debt securities” and “ Securities registered with the Norwegian Central Securities Depository” , published as " Securities "as of Q1 2016.  "Securities"' data series go back to Q4 2014,while older data series can be found by use of the statistics "Debt Securities" and "Securities registered within The Norwegian Central Securities Depository".  

The purpose of the statistics is to provide a current overview of the issue and ownership of securities registered in VPS as well as Norwegian entities' debt securities abroad. Parts of the data basis are also input to the national accounts, balance of payments, financial sector accounts and credit indicators.

Figures for outstanding amounts of long-term debt securities are available back to 1899. Figures for issues of long-term debt securities are available back to 1914. Historical figures on nominal yields are available back to 1900.Figures for short-term debt securities are available back to 1985. Figures for issues outside Norway by residents are available back to 1988.

Details of figures on numbers of issues of debt securities in Norway are available from 1998, while details of figures on numbers of issues abroad are available from 2001.

 

Users and applications

Major users, in addition to Statistics Norway, are users representing the securities market, public authorities and research institutes.

Equal treatment of users

No external users have access to the statistics before they are published and accessible simultaneously for all users on ssb.no.  Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar

Coherence with other statistics

The statistics is adjusted in accordance with the national accounts recommendations.

Legal authority

The Statistics Act § 2-2

EEA reference

Council regulation 2223/96

Production

Population

The statistics consists of data from the previously published statistics, “Debt securities” and “ Securities registered with the Norwegian Central Securities Depository” , published as " Securities "as of Q1 2016. The statistics presents stock and transaction data in face values as well as market values for the following types of securities registered in VPS:

  • All shares issued by public limited companies (PLC) and a share of private limited companies. Also included are a part of or the whole share capital of foreign registered Companies..
  • Equity certificates, including all equity certificates listed on the Oslo Stock Exchange.
  • Bonds, including all bonds of short- or long maturity issued in Norway in NOK or foreign currency. Bonds in foreign currency are included in the statistics from the 4th quarter of 2006.
  • Short-term debt securities issued in Norway in NOK or foreign currency, including treasury bills issued by the Norwegian state since July 2000. Short-term debt securities in foreign currency are included in the statistics from the 4th quarter of 2006.

In addition, the statistics have information about issues and outstanding amounts in nominal values from debt securities issued by Norwegian entities abroad. 

For all debt securities issued in Norway and abroad, the statistics also have information about numbers of issues and the link between outstanding amounts, issues, redemptions and changes in outstanding amounts caused by changes in sector classification and exchange rates in nominal values.  From 2013, debt securities that have been converted into shares or other types of loans are included as "Changes in sector classification and exchange rates".

Data sources and sampling

Full sample. Information from The Norwegian Central Securities Depository (VPS), Oslo Stock Exchange (OSE), Norwegian Trustee and forms (RA-0622) contending details from issues sent to Statistics Norway

Collection of data, editing and estimations

Extracts of primary data from securities in Norway are received monthly from the Norwegian Central Securities Depository (VPS). Market values are received currently from Oslo Stock Exchange (OSE) and exchange rate information is received by the Norges Bank. Data from debt securities issued by Norwegian entities abroad are sent by issuers to Statistics Norway every month by use of a form (RA-0622).

Data is controlled at an individual security level (ISIN level) against previous reported periods. The development in the value of listed shares and bonds is revised against data published by OSE and VPS. Figures for outstanding debts are co-ordinated with the accounting statistics. Details of debt securities issued by residents abroad are also controlled against data reported to the BIS and other national and international registers.

Data series are revised on an ongoing basis and published together with data for the new statistical period.

Seasonal adjustment

Not relevant

Confidentiality

Statistics Norway's standard confidentiality rules apply.

Comparability over time and space

All "Securities"' data series go back to Q4 2014,while older data series can be found by use of the statistics "Debt Securities" and "Securities registered within The Norwegian Central Securities Depository". 

Changes in legislation, changes in regulations for registration requirements in the VPS, and the introduction of new classification standards may lead to interrupted time series.

2006: Adjustment in securities statistics:

An change in the statistics to a more detailed reporting in the 4th quarter of 2006, means that the sector and industry categorization is based on information from the Central Coordinating Register for Legal Entities Enterprises, and no longer from the Central Security Depository (VPS) itself. This caused some changes in the ownership of some securities. The sectors “Other financial corporations” and “Other non-financial corporations” and “Local government and municipal enterprises” were significantly affected by this change.

Further, the adjustment in the statistics lead to more use of observed prices from transactions for calculation of market values of securities, which particularly improved the estimation in value of unlisted shares. Calculations showed that the total value of unlisted shares registered with the VPS increased by NOK 107 billion (64 per cent) as a consequence of changed method of calculation.

The adjustment of the securities statistics also meant that bonds issued in foreign currency was included in the statistics. This lead to a NOK 20 billion increase in the market value of the stocks of bonds.

Changes in the periodic distribution of issues and outstanding amounts of debt securities from 2007:

In publications up to 2007 and the statistics bank, the periodic distribution of issues and outstanding amounts of debt securities up to 2007 is based on information about the date of the loan's approvement. This date can deviate from the date of which an issue actually took place. The periodic deviation may cause marginal errors for total amounts, but errors may be more obvious at sector level.  The periodic distribution of issues and outstanding amounts of debt securities in 2007 - 2011 is based on a combination of information about the date of the loan's approvement and issue dates. The periodic distribution of issues and outstanding amounts of debt securities from 2011 is based on details of actual issue dates whereby the distribution of issues and outstanding amounts for periods should be correct. 

 2012: New standard for sector classification was introduced.

 A new institutional sector classification was introduced from January 2012. One of the most significant changes is that the demarcation between financial – and non-financial sector was shifted so that financial sector increased in size. In addition, some new financial sectors were introduced such as “investment trusts and private equity funds” and “financial holding companies”.

 The introduction of the new sector classification leads to a break in the statistics. The new tables will contain data from the first quarter of 2012 and onwards. The older tables will not be updated with new time series.

 2012: New divide between listed - and unlisted shares

 From 2012 and onwards, the statistics the distinguishes between listed - and unlisted registered with the VPS. Listed shares entails shares registered for trade at the Oslo Stock Exchange or Oslo Axess.

 From 2013, debt securities that have been converted into shares or other types of loans are included as "Changes in sector classification and exchange rates".

Updated information about debt securities:

time series breaks may exist due to access to new information, alterations in the legal framework and in the registration rules of the Norwegian Central Securities Depository.

The tables are updated with figures for these new data from 2012.

 

Accuracy and reliability

Sources of error and uncertainty

To the degree that the fixed delivery from VPS contains errors or defects, this could affect the statistics. Processing and control routines have been established in order to detect and correct such errors and defects.

In cases where an owner of a security is registered on a nominee account of a financial enterprise, and in cases where different types lending of securities occur, others than the genuine owners will be registered in the VPS register. This can to some extent cause the application of sectors to owners of holdings and transactions to be imperfect.

In publications up to 2007 and the statistics bank, the periodic distribution of issues and outstanding amounts of debt securities up to 2007 is based on information about the date of the loan's approvement. This date can deviate from the date of which an issue actually took place. The periodic deviation may cause marginal errors for total amounts, but errors may be more obvious at sector level.  The periodic distribution of issues and outstanding amounts of debt securities in 2007 - 2011 is based on a combination of information about the date of the loan's approvement and issue dates. The periodic distribution of issues and outstanding amounts of debt securities from 2011 is based on details of actual issue dates whereby the distribution of issues and outstanding amounts for periods should be correct. 

The statistics on issues by Norwegian residents outside Norway is based on data reported to Norges Bank from the issuers. Unless all the issues are reported, the statistics will contain non-response errors. Due to non-response errors which have been discovered, figures for Norwegian entities' issues abroad were corrected in statistics published in Q3 and Q4 2013, Q3 2015 and Q1 2016.

Revision

Data may be revised in future publications.