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Published: 30 June 2014

Households’ net financial assets contracted in the first quarter of 2014

Households' net financial assets decreased by EUR 0.7 billion in the first quarter of 2014 and debts increased by EUR 0.8 billion. As a result of these changes, households' financial assets and debts, i.e. net financial assets, contracted by 1.3 per cent from the previous quarter. 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

At the end of March 2014, households had a total of EUR 248.2 billion in financial assets and EUR 136.8 billion in debts. Thus, households' net financial assets amounted to EUR 111.5 billion at the end of the first quarter. The decline in net financial assets from the previous quarter was EUR 1.5 billion. Net financial assets refer to the difference between financial assets and liabilities.

The decrease in households' financial assets was caused by the fact that net investments in financial claims were negative. Net investments in deposits were EUR 0.4 billion negative and in quoted shares EUR 0.5 billion negative. Simultaneously, the shift from fixed-term deposits to cash deposits that had started at the beginning of 2012 continued. Households received EUR 0.3 billion of holding gains mainly from quoted shares and mutual funds. Thus, households were not able to benefit from holding gains in the first quarter to the same extent as in the four previous quarters.

Both households' loan debts and disposable income increased in the first quarter of 2014. As a result of changes, the indebtedness ratio grew slightly, to 119.6 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.

In the first quarter of 2014, non-financial corporations decreased their debt financing by cutting back both their loans and debt securities. During the quarter, non-financial corporations' debt financing fell by altogether EUR 1.7 billion, being EUR 200.4 billion at the end of the quarter. In addition, a shift occurred in financing in the form of debt securities during the quarter from long-term debt securities to short-term ones. Debt financing refers to the total of loan debts and financing in the form of debt securities.

In September 2014, EU Member States will introduce the revised European System of Accounts, ESA 2010. The next release of these statistics will be accordant with the new ESA 2010 system. 

Source: Financial accounts, Statistics Finland

Inquiries: Saara Roine 029 551 2922,

Director in charge: Leena Storgårds

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Updated 30.6.2014

Referencing instructions:

Official Statistics of Finland (OSF): Financial accounts [e-publication].
ISSN=1458-8145. 1st quarter 2014. Helsinki: Statistics Finland [referred: 27.2.2024].
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