Loans to the households, France 2019Oct

A quarter of the housing loans granted in October are renegotiated loans
  • In October, growth in housing loans to individuals continues to rise to + 6.7% (up from + 6.6% in September), while growth in credits for consumption eased somewhat (+ 5.6%, down from + 6.5% in September).
  • Housing loan production, which stands at €24 billion in October, the highest since May 2017, is largely driven by renegotiated loans. Their share in new loans increases again in October, reaching 26% (up from 23.6% in September and 16.4% in October 2018).
  • The fixed and long term average interest rate on new housing loans reaches a new low in October (1.23%, down from 1.27% in September), while the rate on credit for consumption rises at 3.68%.
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
Oct-19 Aug-19 Sept-19 Oct-19
Total 1,288 6.3 6.6 6.5
Lending for house purchase 1,066 6.5 6.6 6.7
Credit for consumption 188 5.6 6.5 5.6
Other lending 34 5.6 5.4 4.3
Monthly flows of housing loans (with seasonal adjustment)
(Changes in stocks in EUR Bn, adjusted for sales and securitization and write-offs/write-downs)
Share of renegotiation of new property loans
(New property loans seasonally adjusted, in € Bn and in %)
Production of new loans (excluding overdrafts, monthly flows seasonally adjusted (a))
(in EUR Bn)
May-19 June-19 July-19 Aug-19 Sept-19 Oct-19
- loans for consumption purposes (b) 5.5 5.3 5.8 5.7 5.8 5.6
- housing loans 17.8 19.4 21.1 21.3 21.8 24.0
of which housing loans excluding renegotiations 14.7 15.9 17.0 16.0 16.7 17.8
- proportion of renegotiation (not seasonally adjusted) in % (c) 17.8 17.8 19.6 24.6 23.6 26.0
Interest rates on new loans (narrow defined effective rate, monthly average)
(in %)
May-19 June-19 July-19 Aug-19 Sept-19 (e) Oct-19 (f)
- housing loans long term and fixed rates 1.44 1.39 1.34 1.31 1.27 1.23
- housing loans short term and floating rates 1.48 1.41 1.44 1.37 1.36 1.38
- loans for consumption purposes (b) 3.99 3.81 3.71 3.83 3.55 3.68
- overdrafts for individuals (d) 5.75 5.76 5.50 5.70 5.69 5.55
(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

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STAT INFO - October 2019

Loans to individuals
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Loans to the households, France
  • Published on 12/05/2019
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Published on Thursday, December 5, 2019