2024-07-12
PRESS RELEASE
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Financial wealth of Belgian households rose in the first quarter of 2024
The net financial wealth of Belgian households increased by €26.5 billion to €1 218.1 billion in the first three months of 2024. Financial assets rose by €26.7 billion, mainly due to valuation gains (€22 billion) but also due to net investment of €4.7 billion. Household financial liabilities grew slightly, by €0.2 billion.
In the first three months of 2024, the financial assets of households increased, due mainly to valuation effects on investment fund holdings (€15.8 billion) and listed shares (€4 billion). Insurance products also saw valuation gains (€3.5 billion).
Debt securities and unlisted shares recorded slight valuation losses (-€0.7 billion and -€0.6 billion respectively). The €1.7 billion other flows of sight deposits are not due to valuation effects but are a correction in the reporting of one bank, which led to the reclassification of this amount from other deposits to sight deposits.
Households continued to invest in term accounts (€2.8 billion) and debt securities (€2.3 billion) in Q1 2024. There were net purchases of shares in investment funds and unlisted shares (€2 billion and €1.9 billion, respectively), but net sales of listed shares (-€0.8 billion).
Household financial obligations rose slightly in Q1 2024 by €0.2 billion to an outstanding amount of €350.2 billion, due to an increase in mortgage loans (€0.7 billion) and other types of long-term loans (€0.3 billion).
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CHANGE IN THE NET FINANCIAL WEALTH OF HOUSEHOLDS IN THE FIRST QUARTER OF 2024 (in € billion )
Amounts | Financial | Other | Amounts | |
Financial instruments | outstanding at | transactions in | flows1 | outstanding |
31 December | Q1 2024 | at | ||
2023 | 31 March | |||
2024 | ||||
Financial assets | 1541.7 | 4.7 | 2.0 | 1568.4 |
Notes and coins | 39.2 | 1.0 | 0.0 | 40.2 |
Sight deposits | 85.3 | -2.4 | 1.7 | 84.6 |
Regulated savings deposits | 265.2 | 0.3 | 0.0 | 265.6 |
Other deposits | 73.7 | 2.8 | -1.8 | 74.8 |
Debt securities | 59.7 | 2.3 | -0.7 | 61.3 |
Listed shares | 84.1 | -0.8 | 4.0 | 87.4 |
Unlisted shares and other equity | 360.5 | 1.9 | -0.6 | 361.8 |
Investment fund shares | 265.9 | 2.0 | 15.8 | 283.8 |
Insurance products | 287.8 | 0.1 | 3.5 | 291.5 |
Miscellaneous2 | 20.1 | -2.6 | 0.0 | 17.6 |
Financial liabilities | 350.1 | 0.2 | 0.0 | 350.2 |
Short-term loans | 6.8 | -0.4 | 0.0 | 6.4 |
Mortgage loans | 301.5 | 0.7 | 0.0 | 302.2 |
Other long-term loans | 32.6 | 0.3 | 0.0 | 32.8 |
Miscellaneous3 | 9.2 | -0.4 | 0.0 | 8.8 |
Net financial wealth | 1191.6 | 4.5 | 22.0 | 1218.1 |
Source: NBB.
- Other flows consist of price and exchange rate fluctuations. They also include specific items such as reclassifications to other sectors or instruments.
- This category consists of other financial instruments as defined by ESA 2010, mainly loans, accounts receivable/payable and accruals, including government assessments.
- This category consists of other financial instruments as defined by ESA 2010, such as derivatives, other shareholdings, accounts receivable/payable and accruals, including taxes due but not yet paid.
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National Bank of Belgium | 1000 Brussels | www.nbb.be | Brussels RLE |
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National Bank of Belgium published this content on 12 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2024 09:03:02 UTC.