Loans to the households, France 2019Jun

Consumer credit décélérâtes

  • The growth of loans to individuals remains strong in June 2019 (+ 6.2%, unchanged since April), still driven by housing loans (+ 6.3%, unchanged from May)

  • Consumer credit growth decelerates again (+5.5%, down from +6.0% in May and +6.1% in April) although remaining at a high level.

  • The average interest rate on new loans falls further in June, for long-term and fixed-rate housing loans (1.39%, down from 1.44% in May), short-term and variable-rate housing loans (1.41%, down from 1.48% in May) and for credit for consumption (3.81%, down from 3.99% in May)).

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
Jun-2019 Apr- 2019 May-2019 Jun-2019
Total 1,257 6.2 6.2 6.2
Lending for house purchase 1,040 6.2 6.3 6.3
Credit for consumption 183 6.1 6.0 5.5
Other lending 34 7.3 6.4 5.2
Monthly flows of housing loans (with seasonal adjustment)
(Changes in stocks in EUR Bn, adjusted for sales and securitization and write-offs/write-downs)
Monthly flows of credit for consumption (with seasonal adjustment)
(Changes in stocks in € Bn, adjusted for sales and securitization and write-offs/write-downs)
Production of new loans (excluding overdrafts, monthly flows seasonally adjusted (a))
(in EUR Bn)
Jan- 2019 Feb- 2019 Mar-2019 Apr- 2019 May-2019 Jun-2019
- loans for consumption purposes (b) 5.5 5.5 5.6 5.2 5.5 5.3
- housing loans 18.0 18.3 18.3 18.4 17.7 19.4
of which housing loans excluding renegotiations 14.7 15.0 15.1 15.2 14.5 16.0
- proportion of renegotiation (not seasonally adjusted) in % (c) 18.0 18.3 17.5 17.5 17.8 17.8
Interest rates on new loans (narrow defined effective rate, monthly average)
(in %)
Jan- 2019 Feb- 2019 Mar-2019 Apr- 2019 May-2019 Jun-2019
- housing loans long term and fixed rates 1.50 1.51 1.51 1.49 1.44 1.39
- housing loans short term and floating rates 1.56 1.47 1.44 1.51 1.48 1.41
- loans for consumption purposes (b) 3.87 3.94 3.84 3.96 3.99 3.81
- overdrafts for individuals (d) 5.80 6.17 5.98 5.75 5.75 5.76
(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) Revised data.
(f) Provisional data.
Interest rates on housing loans, all maturities
(Narrowly defined effective rate, average weighted by long and short term flows, in %)
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

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STAT INFO - June 2019

Loans to individuals
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Loans to the households, France
  • Published on 08/01/2019
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Published on Thursday, August 1, 2019