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Comparison between the statistics for Swedish banking sector and Swedish banking groups

International banking statistics illustrate the Swedish banking sector's foreign-related activities in various ways. The statistics are divided into two parts, Swedish banking sector and Swedish banking groups.

A distinguishing feature of both parts is a detailed country breakdown supplemented by a sectoral breakdown of those who the banks do business with. Both parts refer to outstanding assets and to some extent liabilities at the end of the quarter.

The main difference between the two parts is that the statistics over Swedish banking sector refer to activities conducted by banks in Sweden while the statistics over Swedish banking groups cover the activities of the entire Swedish banking group [1]. By definition, the statistics on Swedish banking sector follow the European system of national and regional accounts (ESA) and the Balance of Payments, while the statistics on Swedish banking groups are closer to the consolidated accounts and the supervisory reporting under the Capital Requirements Directive [2].

For Swedish banking sector, only business from offices in Sweden are included, which applies to both Swedish-owned banks and foreign banking groups with branches or subsidiaries in Sweden [3]. However, it does not include business from foreign subsidiaries or branches of Swedish-owned banks. Assets and liabilities with other banks within the same banking group are included in the statistics, as these banks are seen as separate entities.

Swedish banking groups often consist of a company with a banking licence and companies licensed as credit market companies, such as housing credit institutions and finance companies, as well as bank subsidiaries abroad [4]. A loan from the bank to the housing credit institution within the same group or from the bank to a foreign subsidiary is therefore included in the statistics on Swedish banking sector. By separating business from companies in Sweden, the banks' branches abroad are also treated as independent undertakings and loans and liabilities with them are therefore also included.

The statistics for Swedish banking groups refer to banks where the parent company is under Swedish supervision. This includes, for example, the major Swedish banks. The statistics refer to all activities in the group and therefore include both banks and other companies in Sweden and abroad. However, foreign-owned banks are not included, regardless of whether they operate as subsidiaries or branches in Sweden. As Swedish banking groups refer to the business of the entire group, assets and liabilities between companies within the same banking group are excluded. Assets and liabilities between banks and housing credit institutions in the same group or between the Swedish head office  and foreign subsidiaries are therefore not included.

Figure 1 below shows how the statistics for Swedish banking sector and Swedish banking groups correspond and what differences there are. Swedish-owned banks in Sweden refer to business by Swedish-owned banks’ offices in Sweden, including, for example, the major Swedish banks but not business from subsidiaries or branches abroad. Banks' group claims, i.e. assets with companies in the same banking group, are not included. Claims with own branches are neither included in this category.

Foreign-owned banks refer to subsidiaries and branches of foreign banks in Sweden, including the assets of these banks with the foreign head office or other companies in the same banking group.

Swedish-owned banks, group claims refer to assets against companies within the same group for the Swedish-owned banks' activities in Sweden. This includes assets with group companies in Sweden as well as subsidiaries abroad and own branches.

Swedish-owned banks abroad include business in Swedish-owned banks’ subsidiaries and branches abroad.

Swedish-owned banks, otherrefers to differences for Swedish-owned banks that are not included in any of the other categories. As the statistics consist of two separate data collections from the largest banks for each part, the sample of reporting banks can potentially affected the statistics. However, all banks reporting Swedish banking groups currently also report statistics for Swedish banking sector for all or some of the banks within the group. Companies that are part of a banking group without being credit market companies or are to small to report statistics for Swedish banking sector are included under other. Other also includes differences due to different definitions in each part, such as how assets and liabilities may be offset against each other and how short selling are to be reported.

Comparison of Swedish banking sector and Swedish banking groups

Claims excluding derivatives. SEK billion (2023 Q2)

Figure: Comparison of Swedish banking sector and Swedish banking groups

Note. "Swedish-owned banks, other" includes for example Swedish subsidiaries that do not report to Swedish banking sector statistics and differences that arise depending on how offsetting of assets and liabilities may be applied in Swedish banking sector and Swedish banking groups.
Source: Sveriges Riksbank.

Figure 2 below provides a stylised view of how a claim, such as a loan, is reported in the statistics for Swedish banking sector and Swedish banking groups. The example is based on a Swedish banking group which, in addition to the bank, has a housing credit institution as a Swedish subsidiary, a bank branch and a subsidiary bank abroad. For instance, loans between a Swedish bank and a Swedish housing credit institution are included in Swedish banking sector but not in Swedish banking groups.

Figure 2: Stylised example of how an asset or liability is reported in Swedish banking sector and Swedish banking groups respectively

Four circles with bank icons in Sweden and abroad and two with households, companies and banks. Arrows show which lining is included in which statistics.

 


Footnote

[1] For banks, there is a difference between the concept of “group” used in accounting and the consolidated situation used in supervisory reporting, the main difference being that the consolidated situation does not include non-financial companies or insurance and pension institutions in the group. In the statistics on Swedish banking groups, “group” refers to the consolidated situation.

[2] The Financial market statistics, on the assets and liabilities of MFIs, differ from both Swedish banking sector and Swedish banking groups as it covers Swedish-owned banks including their business through branches abroad (i.e. it covers the whole legal entity) and the subsidiaries and branches in Sweden of foreign-owned banks.e Financial market statistics, on the assets and liabilities of MFIs, differ from both Sweden-based banks and Swedish banking groups as it covers Swedish-owned banks including their business through branches abroad (i.e. it covers the whole legal entity) and the subsidiaries and branches in Sweden of foreign-owned banks.

[3] A subsidiary is a separate legal entity while a branch is part of the same legal entity as the parent/head office. However, foreign branches in Sweden also have their own business registration number.subsidiary is a separate legal entity while a branch is part of the same legal entity as the parent/head office. However, foreign branches in Sweden also have their own business registration number.

[4] The term bank is used here to refer to both companies with a banking licence and companies licensed as credit market companies.he term bank is used here to refer to both companies with a banking licence and companies licensed as credit market companies.

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Updated 23/01/2024