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Loans to non financial corporations 2017Aug

Published on 09/27/2017
Equipment loans continue to accelerate
Equipment loans continue to accelerate (+7.4% in August, up from +7.2% in July and +6.3% in June). In contrast, treasury loans slow down (+3.1%, down from +3.6%). This is partly due to the reimbursement of a one-off loan to a large industrial group. On average over the last three months, treasury loans flows remained slightly below € 2 billion. Real estate loans are growing at the same pace as before (+3.6%). Overall, the annual growth rate of loans to non-financial corporations is almost unchanged (+5.0%, after +5.1%).
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
Aug-2017 Jun-2017 juil. 2017 Aug-2017
Total 940 3.9 5.1 5.0
Investment 664 5.2 5.7 5.8
Equipment 397 6.3 7.2 7.4
Real estate 267 3.7 3.6 3.6
Treasury 218 0.2 3.6 3.1
Other lending 58 3.7 4.1 3.4
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 - August 2017

Loans to non-financial corporations

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Loans to non financial corporations
  • Published on 09/27/2017
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Published on Wednesday, September 27, 2017