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Outstanding credit: documentation of statistics
The documentation of the statistics describes how the statistics were compiled and what methods were used in the compilation. The data help interpret the figures of the statistics and evaluate their reliability and comparability. The quality report is based on the EU's SIMS model. The documentation also contains change releases describing changes in the statistics and possible specifying methodological descriptions.
If you are looking for statistical figures for these statistics, go to the statistics page: Outstanding credit
Quality report
Data description (SIMS 3.1)
The statistics have been discontinued. These statistics show distributions of the outstanding credit stock and new loans drawn by lender and borrower sector, industry of the borrower, financial claim category and the purpose of use of credit. Statistics Finland also collects data on the activities of small loan companies for these statistics on outstanding credit.
Concepts and definitions (SIMS 3.4)
Average repayment term
Average (in days) of maturities agreed at the time of granting of credits granted by small loan companies during a quarter weighted by the number of credits granted during the quarter.
Bill of exchange
A bill of exchange is a payment order issued by the drawer, or a debt instrument signed by the drawee. This category includes the balance of bills receivable granted from own assets or intermediated from central government funds or funds of other financial institutions. So called "negotiable promissory notes" belong to the category "other credit".
Bonds classified as investments
Bonds classified as investments (to be held to maturity), e.g. bonds, debentures and other bond loans, such as corporate loans, convertible bonds and bonds with equity warrant. MFI (monetary financial institution) holdings of bonds classified as debt securities. Insurance corporation holdings of bonds classified as investments (including insurance corporation reserves for equity-linked policies).
Bonds other than financial assets
Other bonds than bonds classified as investments (i.e. as being held to maturity) in the bond holder's annual accounts.
Business loans
Business loans (loans to enterprises and households of own-account workers) include all lending to sectors S.1111-S.1112 (Public and private non-financial corporations) and S.141 (Households of employers and own-account workers), including housing loans.
Claims in respect of credit cards
Claims of the reporting credit institution in respect of overdrafts of customers who have entered into a credit card agreement.
Commercial paper
A commercial paper is a zero-interest negotiable bearer instrument issued by a company.
Costs of new credits
Costs arising from credits granted by a small loan company during a quarter. Such costs incurred by clients include one-off handling fee, hire-purchase surcharge, costs arising from postponement of maturity and SMS charges from the raising of the credit. Costs arising from the collection of credits are not included in this item.
Credit card credit
The unpaid capital of actual credit card credits (extended credit card credits) and convenience credits at the end of the quarter.
Debt securities
Debt securities comprise all marketable debt instruments, such as Treasury bills, securities issued by municipalities, bank certificates of deposit, commercial papers, bonds and convertible bonds.
Euro lending
Euro lending = loans and advances in euro + loans granted from central government funds + bonds and debentures in euro classified as investments.
Euro lending
Euro lending = loans and advances in euro + loans granted from central government funds + bonds and debentures in euro classified as investments.
Exchange rate changes
To calculate the exchange rate change, the amount of outstanding credit on the date of reporting is first translated into euros at end-of-term mid-market prices of both the present and the preceding quarter. The difference between these two amounts indicates the (positive or negative) exchange rate change. Exchange rate changes are reported only by main sectors.
Lending
Lending includes overdrafts (on current accounts), bills of exchange, promissory notes and other loans.
Loans granted from government funds
Loans granted from government funds for specific purposes, such as farm loans, loans for the utilisation of land, loans for rural industries, loans for small industries, etc.
Loans to the public
Loans to the public equals total lending minus loans to foreign borrowers and overlapping credits (loans between financial institutions, central government and social security funds as well as loans intermediated from central government funds).
Marketable instruments
Includes e.g. certificates of deposit, commercial papers and local authority papers, Treasury bills and debt instruments issued by asset management companies. Non-transferable certificates of deposit are not included in this category.
New credit
New euro and foreign currency denominated credit, including renewals of loans involving significant changes in loan terms (not including factors such as interest rate linkage, if other factors such as the loan period remain unchanged). The concept of "new credit" used in the publication "Outstanding credit" includes purchases of bonds classified as investments (Cf. "Purchases").
Number of customers
Number of clients of small loan companies during a quarter. All persons to whom new credit has been granted during the quarter are counted as clients. A client who has raised several credits with the same company during a quarter is only counted once as client. Clients who have not raised new credit during a quarter but have had unpaid loan capital with the company during the quarter are not counted as clients for that quarter.
Other credit
The outstanding balance on factoring credit, hire purchase contracts, rental financing credit, repos, credit card credit and other claims not belonging to any other category of financial assets.
Outstanding credit
The item "outstanding credit" includes outstanding euro denominated credit and outstanding foreign currency denominated credit. Euro denominated credit includes euro denominated loans and advances, loans granted from central government funds, as well as bonds and debentures classified as investments. Foreign currency denominated credit includes foreign currency denominated loans and advances, as well as foreign currency denominated bonds classified as investments. The item "outstanding loans", both euro and foreign currency denominated, includes overdrafts, bills of exchange, promissory notes and other loans. The item "bonds classified as investments" includes bonds and debentures that are recorded as investment assets. In the case of credit institutions, the item includes transferable bonds and debentures. In the case of insurance companies, the item includes bonds and debentures classified as investments. Three different concepts of outstanding credit are used for statistical purposes. 1. Total lending: This item includes all loans granted by a sector, i.e.: - loans to the public, - loans to foreign borrowers, - loans between financial institutions, central government and social security funds. Loans granted from central government funds are included twice in total lending: a) first as central government credit to the banking sector, and a second time as loans from the banking sector to the public, b) first as central government credit to the municipal sector, and a second time as loans to the public. 2. Loans to the public: Loans to the public equals total lending minus loans to foreign borrowers and overlapping credit (loans between financial institutions, central government and social security funds as well as loans intermediated from central government funds). 3. Loans to enterprises and entrepreneur households: This item includes loans to sectors 1 (enterprises) and 51 (households of employers and own-account workers). The item appears as a sum total in tables where loans are classified by the borrower's economic activity. Loans to sectors 1 and 51 include housing loans granted to these sectors.
Outstanding credit in foreign currency
Outstanding credit in foreign currency = lending in other currencies than euro + bonds classified as investments denominated in other currencies than euro.
Overdrafts on current accounts
End-of-period balance of unused credit limits on deposit account overdraft facilities provided by monetary financial institutions. Unauthorised overdrafts are not included.
Promissory notes
The outstanding balance on promissory notes extended by financial institutions from depository assets (or by insurance corporations from insurance funds) or from equity capital. Loans granted by institutions supervised by the Finnish Centre for Pensions are also included, as are interest subsidy loans, and, in the case of insurance corporations, non-mandatory lending as well as relending to employers and policy-holders.
Purchases
Purchases of bonds classified as investments (including other bonds such as debentures, corporate loans, convertible bonds and bonds with equity warrant). MFI (monetary financial institution) purchases of bonds classified as debt securities. Insurance corporation purchases of bonds classified as investments (including reserves for equity-linked policies). Cf. also New credits.
Small loan company
A company whose principal business activity is granting of small or smallish unsecured consumer credits with a typical original maturity, or repayment term, of less than three months. These loans are typically paid back in one or just a couple of instalments. In addition, the loans generally carry no actual nominal rate of interest, but all their costs usually arise from other expenses, such as handling and processing fees, and service and SMS charges. The services of a small loan company can typically be ordered by SMS or via the Internet, whereby the loan is at the client's disposal very quickly.
Total lending
This item includes all loans granted by a sector, i.e.: - loans to the public, - loans to foreign borrowers, - loans between financial institutions, central government and social security funds. Loans granted from central government funds are included twice in total lending: a) first as central government credit to the banking sector, and a second time as loans from the banking sector to the public, b) first as central government credit to the municipal sector, and a second time as loans to the public.
Institutional mandate (SIMS 6)
The compilation of statistics is guided by the Statistics Act. The Statistics Act contains provisions on collection of data, processing of data and the obligation to provide data. Besides the Statistics Act, the General Data Protection Regulation, the Data Protection Act and the Act on the Openness of Government Activities are applied to processing of data when producing statistics.
Statistics Finland compiles statistics in line with the EU’s regulations applicable to statistics, which steer the statistical agencies of all EU Member States.
Further information: Statistical legislation
Quality assurance (SIMS 11.1)
Quality management requires comprehensive guidance of activities. The European Statistics Code of Practice forms the basis for the common quality system of the European Statistical System.
The Code of Practice is based on 16 principles that concern statistical authorities' independence, accountability and the quality of the processes and data to be published.
The principles are in line with the Fundamental Principles of Official Statistics approved by the United Nations Statistics Commission and are supplementary to them. The quality criteria of Official Statistics of Finland are compatible with the European Statistics Code of Practice.
Further information:
Release calendar (SIMS 8.1)
Statistics Finland publishes new statistical data at 8 am on weekdays in its web service. The release times of statistics are given in advance in the release calendar available in the web service. The data become public after they have been updated in the web service.
Further information: Publication principles for statistics at Statistics Finland
User access (SIMS 8.3)
The data are released to all users at the same time. Statistical data may be processed at Statistics Finland and information on them may be given before release only by persons involved in the production of the statistics concerned or who need the data of the statistics concerned in their own work before the data are published.
Further information: Publication principles for statistics
Unless otherwise specifically stated in connection with the product, data or service concerned, Statistics Finland is the producer and copyright owner of the data.
Further information: The terms of use for statistical data
Confidentiality - policy (SIMS 7.1)
The data protection of data collected for statistical purposes is guaranteed. The compilation of statistics is guided by the Statistics Act. Alongside the Statistics Act, the EU’s General Data Protection Regulation (eur-lex.europa.eu) and the Finnish Data Protection Act (Finlex.fi) are applied to the processing of personal data. Provisions on the confidentiality of data collected for statistical purposes are laid down in the Act on the Openness of Government Activities (Finlex.fi).
The data are processed only by persons who need the data in their work. The use of data is restricted by usage rights. All persons employed by Statistics Finland have signed a pledge of secrecy, where they have obliged to keep secret the data prescribed as confidential by virtue of the Statistics Act or the Act on the Openness of Government Activities.
Further information: Data protection