Loans to non-financial corporations accelerate again
Loans to non-financial corporations accelerated again in October, their annual growth rate reaching +6.0% (up from +5.5% in September and 5.0% in August). This acceleration concerns the main categories of loans: equipment loans (+8.3%, up from +7.7% in September), real estate loans (+4.3%, up from +3.8%) and treasury loans (+5.1%, up from +4.4%).
Outstanding amounts and annual growth rate (not seasonally adjusted)
(Outstanding amounts in EUR Bn, annual growth rate in %)
||Annual growth rate
Monthly changes in stocks of investment loans (seasonally adjusted flows)
Monthly changes in stocks of treasury loans (seasonally adjusted flows *)
* Seasonal adjusted monthly net flows of other lending to NFC are allocated to treasury loans in proportion to the outstanding amounts.
Source et réalisation : BANQUE DE FRANCE - DIRECTION GÉNÉRALE DES STATISTIQUES
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.
Download the PDF version of this
Loans to non financial corporations
Published on Tuesday, November 28, 2017