Loans to the households, France 2018Jan

Housing loans and credit for consumption continue to rise
  • In January 2018, the outstanding amounts of lending for house purchase continued to increase (see chart below: monthly flows of housing loans with seasonal adjustment), with a minor decrease in their annual growth rate at +6.1 %.
  • Hence, interest rates remained low (1.62 % in average) while inflation has increased over the past year.
  • The proportion of renegotiations in new credits rose slightly to 18 %.
  • Credits for consumptions remained dynamic. Their growth rate reached their highest since August 2006 (+ 6.7%).
Outstanding amounts and annual growth rates (without seasonal adjustment)
(Outstanding amounts in EUR Bn, annual growth rate in %)
End-of-month level Annual growth rate
Jan- 2018 Nov- 2017 Dec- 2017 Jan- 2018
Total 1,163 6.4 6.5 6.3
Lending for house purchase 957 6.2 6.3 6.1
Credit for consumption 170 6.4 6.6 6.7
Other lending 36 9.8 10.3 9.7
Interest rates on housing loans, all maturities
(Narrowly defined effective rate, average weighted by long and short term flows, in %)
Share of renegotiation of new property loans
(New property loans seasonally adjusted, in EUR Bn and in %)
Production of new loans (excluding overdrafts, monthly flows seasonally adjusted (a))
(flows in EUR Bn, proportion in %)
Aug-2017 SEP- 2017 Oct- 2017 Nov- 2017 Dec- 2017 Jan- 2018
- loans for consumption purposes (b) 5.0 5.2 5.1 5.5 5.7 5.2
- housing loans 15.1 14.4 14.6 17.0 17.2 16.5
of which housing loans excluding renegotiations 10.7 11.0 11.3 13.6 14.5 13.5
- proportion of renegotiation (not seasonally adjusted) in % (c) 28.9 23.8 22.6 19.7 15.8 18.3
Interest rates on new loans (narrow defined effective rate, monthly average)
(in %)
Aug-2017 SEP- 2017 Oct- 2017 Nov- 2017 Dec- 2017 (e) Jan- 2018 (f)
- housing loans long term and fixed rates 1.66 1.65 1.67 1.64 1.61 1.62
- housing loans short term and floating rates 1.67 1.64 1.62 1.68 1.60 1.63
- loans for consumption purposes (b) 4.05 3.78 3.77 3.82 3.60 3.94
- overdrafts for individuals (d) 6.08 6.37 6.12 6.25 5.97 5.96
(a) Parameters for seasonal adjustment are updated each month, taking into account monthly data under review.

(b) Excluding revolving loans.

(c) Ratio of renegotiated loans on housing loans, both not seasonally adjusted

(d) Overdrafts: negative balance of ordinary accounts + commercial credits + factoring + cash credits without fixed repayment schedule (including mobilization of revolving loans).

(e) Revisional data.

(f) Provisional data.
Monthly flows of housing loans (with seasonal adjustment)
(Changes in stocks in EUR Bn, adjusted for sales and securitization and write-offs/write-downs)
Additional information
Only loans granted to individuals (households excluding sole proprietors and unincorporated partnerships) by resident monetary financial institutions are presented here.
The outstanding growth rates are calculated by correcting accounting modifications that do not reflect economic changes. In particular the accounting derecognition of loans from the MFI's statistical balance sheet due to their sale, securitization or write-offs/write-downs is corrected. Conversely, exchange rate effects are taken into account without any change.
The weighted average rates and new business volumes are calculated according to the harmonized definitions of the Eurosystem. Published rates are the narrowly defined effective rate (NDER). They correspond to the interest component of the Annual Percentage Rate of Charge (APRC). Renegotiated loans also include mortgage repurchases.
The production of the new loans represents the new granted loans, even when they are not actually remitted to the borrower. This method, which is common to all Eurosystem central banks, allows having an advanced indicator of loans production, which is useful particularly for economic analysis.
More information on: time series, calendar, methodology

All the series published by the Banque de France are available at the following address Webstat Banque de France

Publication available for Apple and Android
STAT INFO - January 2018
Loans to individuals
Contact: DSMF Contact Stat Info

Download the PDF version of this document

Loans to the households, France
  • Published on 03/06/2018
  • EN
  • PDF (515.69 KB)
Download (EN)

Published on Tuesday, March 6, 2018