Sweden continues to increase its borrowing in USD - increased by 22 percent
Tuesday, 17 September 2013
At the end of August debt securities with Swedish issuers amounted to SEK 6 091 billion, an increase of SEK 137 billion compared to the previous month.
In a press report by Statistic Sweden, (SCB) the increase is largely because the banks' outstanding stock of issues in bonds denominated in euros has risen by SEK 24 billion. The total stock of issues with Swedish banks increased by SEK 68 billion and amounted to SEK 1 914 billion.
Other financial institutions also increased their borrowing by
issuing debt securities. Securities for a total of SEK 24 billion net
were issued by other financial institutions, of which SEK 12 billion
was issued in bonds denominated in US dollars.
The Swedish National Debt Office increased their borrowing for a total of SEK 30 billion, of which bonds were issued for SEK 20 billion and treasury bills were issued for SEK 10 billion. At the same time securities matured for a total value of SEK 10 billion. SEK 5 billion matured in bonds and 5 billion in treasury bills.
The total amount in securities in US dollars corresponded to SEK 1 088 billion at the end of August. This is an increase of 22 percent compared to February when the dollar-denominated emission stock amounted to SEK 889 billion. Exposure against the dollar rises more quickly than other currencies. The corresponding comparison with securities issued in euros shows an increase of 6 percent.
The decreased value of the krona against the dollar, the pound, and the euro has also contributed to the increase in the stock of issues in August.
News sources from Statistic Sweden