404127
/en/bank-og-finansmarked/statistikker/verdipapirer/kvartal
404127
statistikk
2020-05-22T08:00:00.000Z
Banking and financial markets
en
verdipapirer, SecuritiesSecurities markets , Banking and financial markets
true

Securities

Updated

Next update

Key figures

-25.1 %

changes in stocks of listed shares

Stocks of securities registered with VPS by type of security. NOK billion and per cent
1st quarter 20194th quarter 20191st quarter 2020Changes in per cent
4th quarter 2019 - 1st quarter 20201st quarter 2019 - 1st quarter 2020
Stocks (market value)
Shares (listed)2 6042 7262 041-25.1-21.6
Shares (unlisted)470465445-4.2-5.4
Equity certificates576956-19.8-2.8
Long-term debt securities2 1392 1432 2957.17.3
Short-term debt securities144142142-0.4-1.5
 
Total5 4145 5464 978-10.2-8.1

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
1st quarter 2020
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securitiesShort-term debt securities
 
Total2 040 825445 24355 6902 294 679141 684
 
Non-financial corporations287 228235 7238 81938 87813 961
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government11 34249602 24112 204
Public unincorporated enterprises, owned by local government600540
Public incorporated enterprises, owned by local government1 15643710713 4660
Private non-financial incorporated enterprises273 245234 0358 65619 8601 516
Private non-financial unincorporated enterprises521248710
Private non-profit institutions serving enterprises1 428631473 187241
 
Financial corporations212 015128 7609 8721 411 53785 684
Norges Bank00000
Banks5 25142 1311 226616 05744 179
Mortgage companies02264 7535 485
Finance companies000100
State lending institutions etc.2021 244000
Financial holding companies2 34340 88227 5200
Mutual funds105 7192 2865 363278 64715 994
Investment trusts and private equity funds3 3254 1532641 00024
Other financial enterprises, except insurance companies and pension funds78 98436 1051 6693 7483 844
Life insurance companies and pension funds14 8651 7871 151383 50312 284
Non-life insurance companies1 32616919656 2993 873
 
General government641 4442 559157110 83922 492
Central government641 1221 3232100 98722 480
Local government3221 2361559 85112
 
Non-profit institutions serving households22 9981 93219 6536 059553
 
Households77 48521 80610 0027 232307
Unincorporated enterprises within households843220
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.00000
Employees, recipients of property income, pensions and social contributions, students etc.77 47721 76310 0007 230307
 
Rest of the world799 51554 3997 078720 12418 688
 
Unspecified sector13965109110

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
1st quarter 2020
Shares (listed)Shares (unlisted)Equity certificatesLong-term debt securities issued in NorwayShort-term debt securities issued in Norway
 
Total3 014-5379147 914-1 098
 
Non-financial corporations-1 3426783681 528-2 112
Public unincorporated enterprises, owned by central government00000
Public incorporated enterprises, owned by central government281-250-1 083-3 592
Public unincorporated enterprises, owned by local government1..0..0
Public incorporated enterprises, owned by local government-3-50622 9890
Private non-financial incorporated enterprises-1 5541 213368781 301
Private non-financial unincorporated enterprises-4000-130
Private non-profit institutions serving enterprises-28-4-2-442180
 
Financial corporations-4 450-208122106 386-1 456
Norges Bank0..000
Banks1 55759643144 73115 795
Mortgage companies0....-1 8862 446
Finance companies000-170
State lending institutions etc...15000
Financial holding companies1 605....5 3180
Mutual funds-5 480-2296-22 147-12 491
Investment trusts and private equity funds31-332-15-149-6
Other financial enterprises, except insurance companies and pension funds-850-242743 702941
Life insurance companies and pension funds-1 319-2511-20 354-6 997
Non-life insurance companies6103-2 812-1 145
 
General government1 978867 3404 403
Central government1 968207 0624 397
Local government10562786
 
Non-profit institutions serving households-119170-68-261-30
 
Households2 344-465186-155275
Unincorporated enterprises within households-3-13-1..0
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.0....00
Employees, recipients of property income, pensions and social contributions, students etc.2 347-452187-155275
 
Rest of the world4 601-217-53533 076-2 178
 
Unspecified sector1-18000

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
2nd quarter 20193rd quarter 20194th quarter 20191st quarter 2020
 
Total59 68711 64419 51215 022
 
Non-financial corporations38 81511 49018 91414 156
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government15 0947 77413 5777 994
Public unincorporated enterprises, owned by local government0000
Public incorporated enterprises, owned by local government000..
Private non-financial incorporated enterprises23 7213 7165 3376 162
Private non-financial unincorporated enterprises0000
Private non-profit institutions serving enterprises0000
 
Financial corporations19 632..80..
Norges Bank0000
Banks1 393......
Mortgage companies0000
Finance companies0000
State lending institutions etc.0000
Financial holding companies14 504......
Mutual funds0000
Investment trusts and private equity funds........
Other financial enterprises, except insurance companies and pension funds184..80..
Life insurance companies and pension funds0000
Non-life insurance companies3 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 world1 241154518867

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
2nd quarter 20193rd quarter 20194th quarter 20191st quarter 2020
 
Total59 68711 64419 51215 022
 
Non-financial corporations8 3961 0601 5842 460
Public unincorporated enterprises, owned by central government0000
Public incorporated enterprises, owned by central government49......
Public unincorporated enterprises, owned by local government........
Public incorporated enterprises, owned by local government71......
Private non-financial incorporated enterprises8 2371 0551 5722 452
Private non-financial unincorporated enterprises3..1..
Private non-profit institutions serving enterprises365107
Financial corporations7 1015231 105807
Norges Bank0000
Banks125123727
Mortgage companies0000
Finance companies0000
State lending institutions etc.........
Financial holding companies........
Mutual funds3 369408780617
Investment trusts and private equity funds1554224
Other financial enterprises, except insurance companies and pension funds2 9303715373
Life insurance companies and pension funds4785810782
Non-life insurance companies43374
General government18 2505 7289 4405 991
Central government18 2365 7279 4385 990
Local government13121
Non-profit institutions serving households1 54381810
Households2 217327592594
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.2 217327592594
Rest of the world22 0493 9846 7405 060
Unspecified sector1311533100

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
1st quarter 20192nd quarter 20193rd quarter 20194th quarter 20191st quarter 2020
Debt securities issued in Norway
Long-term debt securities issued in Norway154 769113 95197 286132 146220 491
- domestic issuers122 40091 04881 277102 565196 233
Short-term debt securities issued in Norway70 46279 02463 51577 03974 380
- domestic issuers69 44278 92363 51476 88774 380
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad120 28775 67736 02396 40468 585
Sertifikater emittert i utlandet250 893184 334202 777225 063171 611
 
Non-financial corporations
Long-term debt securities issued in Norway8 53124 82911 24519 69618 510
Long-term debt securities issued abroad6 71326 1299 931018 317
Short-term debt securities issued in Norway10 04316 1418 59313 02110 707
Short-term debt securities issued abroad28 64652 48431 97178 20943 786
 
Financial corporations
Long-term debt securities issued in Norway76 34444 45356 93558 638122 312
Long-term debt securities issued abroad113 57449 55026 09396 40450 268
Short-term debt securities issued in Norway3751 1351 025660825
Short-term debt securities issued abroad222 247131 847170 807146 855127 825
 
General government
Long-term debt securities issued in Norway37 52421 76613 09724 23255 411
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway59 02461 64853 89663 20562 848
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway32 36822 90216 01029 57924 256
Short-term debt securities issued in Norway1 02010111520

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
1st quarter 20192nd quarter 20193rd quarter 20194th quarter 20191st quarter 2020
 
Debt securities issued in Norway
Long-term debt securities issued in Norway2 126 3302 097 9952 126 5482 130 5162 308 959
domestic issuers1 810 5441 781 4081 802 8241 807 7371 950 479
Stort-term debt securities issued in Norway144 209143 959133 180142 599141 594
domestic issuers141 429141 924132 973142 451141 421
 
Debt securities issued by Norwegian entities abroad
Long-term debt securities issued abroad1 745 3501 755 3201 808 9621 822 9502 088 196
Stort-term debt securities issued abroad133 622150 062168 030109 895113 134
 
Non-financial corporations
Long-term debt securities issued in Norway321 766330 531328 316323 344342 517
Long-term debt securities issued abroad327 534344 114350 383336 512404 460
Stort-term debt securities issued in Norway12 35417 82113 90416 25812 376
Stort-term debt securities issued abroad4 93314 50615 48713 81621 627
 
Financial corporations
Long-term debt securities issued in Norway958 351954 049970 593960 3221 034 646
Long-term debt securities issued abroad1 417 8171 411 2051 458 5791 486 4381 683 737
Stort-term debt securities issued in Norway3 2241 9302 3551 3951 545
Stort-term debt securities issued abroad128 690135 556152 54396 07991 507
 
Central government
Long-term debt securities issued in Norway530 427496 828503 916524 070573 316
Long-term debt securities issued abroad00000
Stort-term debt securities issued in Norway125 852122 173116 714124 798127 500
Stort-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway315 786316 588323 725322 779358 480
Stort-term debt securities issued in Norway2 7802 035208148173

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 205 959535 065-435 335346 1954 651 884
Debt securities issued by Norwegian entitites3 883 033510 809-427 451326 8394 293 230
Debt securities issued in Norway2 273 115294 871-147 84630 4132 450 553
Debt securities issued by Norwegian entities in Norway1 950 188270 613-139 95911 0582 091 900
 
Non-financial corporations
Long-term debt securities issued in Norway323 34418 510-7 7888 451342 517
Long-term debt securities issued abroad336 51218 317-9 04558 676404 460
Short-term debt securities issued in Norway16 25810 707-14 594512 376
Short-term debt securities issued abroad13 81643 786-39 3163 34121 627
 
Financial corporations
Long-term debt securities issued in Norway960 322122 312-50 5912 6031 034 646
Long-term debt securities issued abroad1 486 43850 268-92 325239 3561 683 737
Short-term debt securities issued in Norway1 395825-67501 545
Short-term debt securities issued abroad96 079127 825-146 80514 40891 507
 
Central government
Long-term debt securities issued in Norway524 07055 411-6 164-1573 316
Long-term debt securities issued abroad00000
Short-term debt securities issued in Norway124 79862 848-60 1460127 500
Short-term debt securities issued abroad00000
 
Rest of the world
Long-term debt securities issued in Norway322 77924 256-7 88619 331358 480
Short-term debt securities issued in Norway1480025173

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 Norway132 28323 257732 869940 307570 17051 6662 450 552
Non-financial corporations9 5202 977132 539156 26346 7046 890354 893
Banks1 325515170 515134 56329 40921 969358 296
Other financial corporations011 300172 605418 41159 31816 261677 895
Central government and social security funds71 5753228 89543 850395 778.520 420
Local government49 6918 06950 72552 44719 224240180 396
Non-profit institutions serving households
Households
Rest of the world17373197 590134 77419 7386 305358 653
 
Remaining maturity
Outstanding amounts in total from debt securities issued in Norway384 725509 4351 084 916373 09652 26546 1172 450 554
Non-financial corporations51 96960 030169 24864 8685 2853 493354 893
Banks60 56271 820159 22544 36650021 823358 296
Other financial corporations64 883198 017325 37462 65012 01014 961677 895
Central government and social security funds73 39789 250181 145150 62826 000.520 420
Local government72 92524 35755 04026 0732 000.180 395
Non-profit institutions serving households00....0
Households00....0
Rest of the world60 98965 960194 88324 5116 4705 840358 653

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.
<= 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 by Norwegian entities abroad113 02016 435646 611779 692462 891181 9922 200 641
Non-financial corporations21 627022 260130 367154 514194 638426 085
Banks88 16913 808207 265113 56371 30512 609506 719
Other financial corporations3 2232 626417 087535 762237 07172 0631 267 832
 
Remaining maturity
Outstanding amounts in total from debt securities issued by Norwegian entities abroad459 089356 660764 200445 660103 33372 2712 201 213
Non-financial corporations60 6928 128131 060146 26944 05935 877426 085
Banks182 42395 906194 06320 95710 1953 752507 296
Other financial corporations215 974252 627439 077278 43449 07932 6421 297 022

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.