Outstanding volume of € 9.7 billion, only 5.7% share of all loans to private households
Vienna (OTS) – The outstanding volume of foreign currency loans was reduced in the third quarter of 2021 compared to the same quarter of the previous year, adjusted for exchange rate effects, by – € 2.03 billion or -17.3%. Since the new allocation stop was imposed in autumn 2008, the outstanding volume, adjusted for exchange rate effects, has been reduced by – € 38.40 billion or – 81.3%. Compared to the previous quarter (Q2 / 2021), the volume fell by € 340 million or -3.4%. In absolute numbers, the volume of foreign currency loans to households fell to € 9.74 billion in the third quarter of 2021 (Q3 2020: € 11.83 billion). This emerges from the FMA’s survey on the development of FX loans in the 3rd quarter of 2021.
Swiss franc exchange rate risk
The share of foreign currencies in all outstanding loans to households was 5.7% in the 3rd quarter of 2021 (Q3-2020: 7.2%). At the highest level in 2006, the share was still around a third. At the end of September 2021, the majority of the FX receivables volume (96.7%) was still in Swiss francs (CHF) and the remainder almost entirely in Japanese yen.
Since the beginning of 2008, the Swiss franc has appreciated by around 53% until September 30, 2021, hovering between 1.0711 and 1.0985 in the third quarter of 2021. This means that anyone who took out a foreign currency loan of € 100,000 at the beginning of 2008 would currently have to repay almost € 153,000 just because of the exchange rate trend – i.e. without interest payments.
Inquiries & contact:
Financial market supervision
Klaus Grubelnik (FMA media spokesman)
+ 43 / (0) 1 / 24959-6006 or + 43 / (0) 676/882 49 516
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