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Published: 27 March 2020

Households’ net financial assets increased in the last quarter of 2019

Households’ financial assets grew by EUR 5.2 billion during the fourth quarter of 2019 rising to EUR 329.3 billion. In turn, households’ debts increased by EUR 3.2 billion during the fourth quarter of 2019 rising to EUR 184.1 billion. As a result of these changes, households' net financial assets increased by EUR 2.0 billion to EUR 145.2 billion. Net financial assets refer to the difference between financial assets and liabilities. These data derive from Statistics Finland’s financial accounts statistics.

Change from the previous quarter in households’ net financial assets

 Change from the previous quarter in households’ net financial assets

Holding gains boosted households’ financial assets

During the fourth quarter of 2019, households increased their net investments in financial assets by EUR 2.0 billion. Households' net investments increased in deposits and mutual funds and decreased in debt securities and quoted shares. Even though households' net investments in financial assets increased, holding gains, in particular, helped raise the total level of financial assets.

Households’ indebtedness ratio increased

Households’ loan debts grew by EUR 1.4 billion during the fourth quarter of 2019 rising to EUR 157.0 billion. Households' indebtedness ratio rose by 2.4 percentage points from the previous quarter to 129.0 per cent. Households' indebtedness ratio is calculated as the ratio of their loan debts at the end of a quarter to their total disposable income during the preceding four quarters. The indebtedness ratio is calculated from figures non-adjusted for seasonal variation.

The considerable rise of the indebtedness ratio from the previous quarter is mainly explained by the change in the tax return policy, which had a significant effect on the figure in the third quarter of 2019. The change increased households’ disposable income, as a result of which the indebtedness ratio fell in the third quarter of 2019

Non-financial corporations’ debt financing grew

Non-financial corporations’ debt financing increased by EUR 0.2 billion during the fourth quarter of 2019 rising to EUR 248.4 billion. In the fourth quarter of 2019, non-financial corporations’ financing in the form of debt securities declined by EUR 1.2 billion to EUR 31.2 billion, while non-financial corporations' loan debts went down by EUR 1.4 billion to EUR 217.1 billion. Debt financing refers to the total of loan debts and financing in the form of debt securities..


Source: Financial accounts, Statistics Finland

Inquiries: Tuomas Koivisto 029 551 3329, Niklas Elfving 029 551 3411, rahoitus.tilinpito@stat.fi

Director in charge: Jan Nokkala

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Updated 27.03.2020

Referencing instructions:

Official Statistics of Finland (OSF): Financial accounts [e-publication].
ISSN=1458-8145. 4th quarter 2019. Helsinki: Statistics Finland [referred: 27.2.2024].
Access method: http://www.stat.fi/til/rtp/2019/04/rtp_2019_04_2020-03-27_tie_001_en.html