Euro area economic and financial developments by institutional sector: second quarter of 2024
- As of October 2024, ECB quarterly financial accounts provide more details on loans bycounterpart sector granted by other financial institutions (OFIs) and information on debt securitiesissuance of non-financial corporations (NFCs) via financing conduits. OFIs are creditors of 23% ofloans granted to NFCs by financial sector
- Euro area net saving increased to €795 billion in four quarters to second quarter of 2024,compared with €787 billion one quarter earlier
- Household debt-to-income ratio decreased to 83.4% in second quarter of 2024 from 87.8% oneyear earlier
- NFCs' debt-to-GDP ratio (consolidated measure) decreased to 69.3% in second quarter of 2024from 71.8% one year earlier
Published on the 29th of October 2024
New details on other financial institutions and the financing of other sectors
As of October 2024, the quarterly sector accounts published by the ECB provide more detailed financial accounts data on OFIs, which constitute the second largest financial sector in the euro area after monetary financial institutions (MFIs).1 OFIs mainly provide financing to NFCs and to a lesser extent to households and other sectors. They also channel funds to and from the rest of the world.
This new release provides counterpart sector data, such as loans granted by the OFI subsectors to NFCs (Chart 1). The release also includes new data on euro area NFC financing conduits which are captive financial institutions that raise funds by issuing debt securities to be used by their parent corporation.
Chart 1
Loans to NFCs by financial subsector
* Loans from NFC financing conduits to NFCs are estimated based on the financing conduits' issuance of debt securities.
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Updated on the 29th of October 2024