Loans to non financial corporations 2017Sep

Growth in equipment loans remains strong
The annual growth rate of equipment loans to non-financial corporations raised slightly in September and reached +7.6% (up from +7.4% in August). The increase in the annual growth of treasury loans (+4.4%, up from +3.0%) was due to a base effect, as the month of September 2016 was marked by a repayment of an exceptional operation.
Overall, the growth in loans to non-financial corporations accelerated in September (+5.4%, up from +5.0%).

Outstanding amounts and annual growth rate (not seasonally adjusted)
(Outstanding amounts in EUR Bn, annual growth rate in %)
End-of-month level Annual growth rate
SEP- 2017 juil. 2017 Aug-2017 SEP- 2017
Total 941 5.1 5.0 5.4
Investment 665 5.7 5.8 5.9
Equipment 397 7.2 7.4 7.6
Real estate 268 3.6 3.6 3.6
Treasury 218 3.6 3.0 4.4
Other lending 58 4.1 3.3 3.3
Monthly changes in stocks of equipment loans (seasonally adjusted flows)
(Monthly flow in EUR Bn)
Monthly changes in stocks of treasury loans (seasonally adjusted flows *)
(Monthly flow in EUR Bn)
* Seasonal adjusted monthly net flows of other lending to NFC are allocated to treasury loans in proportion to the outstanding amounts.

Additional information
Non-financial corporations include all companies whose main activity is the production of goods and non-financial services, excluding sole proprietor and unincorporated partnerships.
Calculations are made with the aim to give the best possible image of the evolution of the lending activity. Loans that have been securitized or sold by credit institutions are considered as remaining in their books. Accounting changes that are not reflecting economic transactions, in particular write-offs/write-downs, are eliminated as the impact of statistical modifications in the scope of the MFI sector (e.g. the reclassification of an entity from the non-financial corporations sector to the government sector). As FX hedges are unknown, loans in foreign currencies can however only be taken into account at their value in Euros at the end of the considered month.
More information on time series, calendar, methodology

All statistical time series published by the Banque de France can be accessed on Webstat Banque de France

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STAT INFO - September 2017

Loans to non-financial corporations

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Loans to non financial corporations
  • Published on 10/26/2017
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Published on Thursday, October 26, 2017