Long series on credit to the private non-financial sector
The BIS has constructed long series on credit to the private non-financial sector for 40 economies, both advanced and emerging. Credit is provided by domestic banks, all other sectors of the economy and non-residents. The "private non-financial sector" includes non-financial corporations (both private-owned and public-owned), households and non-profit institutions serving households as defined in the System of National Accounts 2008. The series have quarterly frequency and capture the outstanding amount of credit at the end of the reference quarter. In terms of financial instruments, credit covers loans and debt securities.
The BIS consulted its member central banks in this endeavour, and is very thankful for the assistance received. 1 The BIS has made every reasonable effort to ensure that the long series on credit are accurate, but no guarantees are made.
To encompass as long a period as possible, the construction of the long series required combining data from several sources, such as the financial accounts by institutional sector, the balance sheets of domestic banks, international banking statistics, and the balance sheets of non-bank financial institutions. In turn, some of these statistics were compiled in past periods according to earlier methodological frameworks (eg the System of National Accounts 1968, which was replaced by the System of National Accounts 1993). Where original data were published at annual frequency, the intra-annual observations were interpolated.
The combination of different sources and data from various methodological frameworks resulted in breaks in the series. The BIS is therefore, in addition, publishing a second set of series adjusted for breaks, which covers the same time span as the unadjusted series. The break-adjusted series are the result of the BIS's own calculations, and were obtained by adjusting levels through standard statistical techniques described in the special feature on the long credit series of the March 2013 issue of the BIS Quarterly Review.
The data for each country include i) credit to private non-financial sectors by domestic banks and ii) total credit to private non-financial sectors. Moreover, for most countries, total credit is broken down into iii) credit to non-financial corporations and iv) credit to households and non-profit institutions serving households.
The documentation on data posted on this webpage contains details of the methodology followed in the compilation of the long series, as well as links to websites where the most recent national data can be found.
The dataset is updated at the end of each quarter.
For any queries please contact statistics$bis.org (where "$" denotes "@").
Links to long series on credit to private non-financial sectors:
- Data (XLSX, 680 kb, last updated 5 September 2014)
In this update, total credit for the latest period (Q1 2014) for Norway and Luxembourg is estimated by applying the growth rate in bank credit between the previous and latest reporting periods.
- BIS WebStats (Interactive, last updated 5 September 2014)
- Documentation on data (PDF, 31 pages, 425 kb, last updated 5 September 2014)
- "How much does the private sector really borrow - a new database for total credit to the private non-financial sector", article from the BIS Quarterly Review, March 2013
1 The statistical offices in Norway and Sweden also provided assistance.