Bank of Lithuania
2021-04-29
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Balance Sheet and Interest Rates of Monetary Financial Institutions, March 2021

Today, the Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for March 2021, which show that:

deposits of Lithuanian residents with credit institutions increased1 by €968.5 million over the month and by €7.5 billion from March 2020 (since the beginning of the COVID-19 pandemic). General government, financial sector2, household3 and non-financial corporation deposits surged by €451.2 million, €179.2 million, €173.8 million and €164.3 million respectively over the month. Since March 2020, household, non-financial corporation, general government and financial sector deposits increased by €3.5 billion, €2.8 billion, €918.8 million and €201.3 million respectively. Deposits of these sectors amounted to €18.6 billion, €9.4 billion, €3.6 billion and €1.0 billion respectively at the end of March 2021 (see Chart 1);

overnight deposits of Lithuanian non-financial corporations and households with credit institutions increased by €215.8 million and €139.6 million respectively over the month, to €9.2 billion and €14.6 billion respectively;

loans granted by credit institutions to Lithuanian residents increased by €230.9 million month on month, but dropped by €290.6 million, compared to March 2020. Loans to Lithuania’s non-financial corporations, households and the financial sector grew by €106.8 million, €96.2 million and €38.8 million respectively over the month, while loans to general government contracted by €10.8 million. Since March 2020, loans to non-financial corporations, the financial sector and general government have contracted by €974.3 million, €58.3 million and €20.9 million respectively, while loans to households rose by €762.8 million. At the end of the month, loans to these sectors amounted to €7.5 billion, €1.1 billion, €332.9 million and €11.3 billion respectively (see Chart 2);

loans to Lithuanian households for house purchase, consumption and other purposes granted by credit institutions increased by €89.1 million, €3.4 million and €3.6 million over the month, to €9.4 billion, €704.4 million and €1.2 billion respectively (see Chart 3);

interest rates4 on new business5 loans granted by credit institutions to households for house purchase, consumption and other purposes declined by 0.06, 0.57 and 0.29 percentage point respectively over the month and comprised 2.19%, 8.64% and 5.13% respectively in March 2021 (see Chart 4.)

Chart 1. Deposits of Lithuanian residents, excluding MFIs, with other MFIs
(outstanding amounts, end-of-period)
 
Chart 2. Loans granted by other MFIs to Lithuanian residents, excluding MFIs
(outstanding amounts, end-of-period)
 
Chart 3. Loans granted by other MFIs to Lithuanian households
(outstanding amounts, end-of-period)
 
Chart 4. Interest rates on new business loans for households

Detailed data on MFI assets and liabilities is available on the Bank of Lithuania website under MFI balance sheet and monetary statistics.

Detailed data on MFI interest rates is available on the Bank of Lithuania website under MFI interest rate statistics.

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1 Unless otherwise specified, monthly changes in euro are presented as transactions, i.e. they are calculated by taking the difference between end-of-month outstanding amounts and then removing the effects of revaluation adjustments, exchange rate adjustments, loan write-offs and reclassifications.

2 The financial sector consists of Lithuania’s investment funds and other financial intermediaries, as well as insurance corporations and pension funds.

3 The household sector consists of households and non-profit institutions serving households.

4 Weighted interest rates on new business during the reporting month, in percentages per annum.

5 New business covers financial contracts that specify for the first time the interest rate on a loan, and renegotiations of existing loan contracts. New business does not cover revolving loans and overdrafts, as well as credit card debt.

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