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Loans to the households 2019Jan

Published on 03/06/2019
Loans to individuals continue to grow
  • The annual growth rate of loans to individuals remained high in January 2019 (+5.9%, after 6.0% in December), still driven by loans for house purchase (+5.8%, unchanged compared to December 2018).
  • Consumer credit growth decelerated (+6.0%, after +6.4% in December 2018) but remained strong.
  • The average interest rate on new loans for house purchase (long-term and fixed-rate) stabilized in January (1.50%, after 1.49% in December 2018), after 12 months of almost uninterrupted decline.
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- 2019 Nov- 2018 Dec- 2018 Jan- 2019
Total 1,227 6.1 6.0 5.9
Lending for house purchase 1,013 5.9 5.8 5.8
Credit for consumption 179 6.3 6.4 6.0
Other lending 35 10.2 8.0 7.6
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)
Aug-2018 SEP- 2018 Oct- 2018 Nov- 2018 Dec- 2018 Jan- 2019
- loans for consumption purposes (b) 5.6 5.6 5.5 5.7 5.6 5.5
- housing loans 17.2 17.3 17.7 17.8 17.8 18.0
of which housing loans excluding renegotiations 14.5 14.7 14.8 14.6 15.2 14.8
- proportion of renegotiation (not seasonally adjusted) in % (c) 15.9 15.0 16.4 17.6 14.6 18.0
Interest rates on new loans (narrow defined effective rate, monthly average)
(in %)
Aug-2018 SEP- 2018 Oct- 2018 Nov- 2018 Dec- 2018 (e) Jan- 2019 (f)
- housing loans long term and fixed rates 1.53 1.51 1.51 1.50 1.49 1.50
- housing loans short term and floating rates 1.53 1.55 1.56 1.54 1.49 1.56
- loans for consumption purposes (b) 3.88 3.69 3.69 3.82 3.64 3.87
- overdrafts for individuals (d) 5.99 6.20 5.93 6.10 5.77 5.80
(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 - January 2019

Loans to individuals
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Loans to the households, France
  • Published on 03/06/2019
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Published on Wednesday, March 6, 2019