{"id":442843,"date":"2024-12-17T10:15:07","date_gmt":"2024-12-17T09:15:07","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=442843"},"modified":"2024-12-18T10:17:59","modified_gmt":"2024-12-18T09:17:59","slug":"fx-lending-q3-2024-3-6-percent-outstanding","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fx-lending-q3-2024-3-6-percent-outstanding\/","title":{"rendered":"Foreign currency loans fall further: At the end of Q3 2024, only 3.6 % of loans to household were in Francs and other currencies"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\"><strong>The FMA Foreign Currency Loans Survey shows that the level of outstanding loans has decreased further to &euro; 6.4 billion &ndash; almost 90% below its level at the height of the financial crisis<\/strong><\/p><p class=\"wp-block-paragraph\">Adjusted for exchange rate effects, the outstanding volume of foreign currency loans (FX lending) to private households fell by 3.5 % compared against the previous quarter. Within the last year, the volume of loans has fallen by 17 % or &euro; 1.28 billion, and now stands at only &euro; 6.4 billion. This is only 3.6 % of all outstanding loans to private households. These were the findings from latest edition of the FMA's Foreign Currency Loan Survey.<\/p><p class=\"wp-block-paragraph\">Since the imposing of the ban on granting of new foreign currency loans in Autumn 2008, adjusted for exchange rate effects, the outstanding volume has fallen by &euro; 42.9 billion or 89 %. At the height of the FX lending boom in 2006 almost one-third of all loans to private households (32%) were denominated in foreign currencies.<\/p><p class=\"wp-block-paragraph\">Practically all remaining FX loans (98.7%) are denominated in Swiss francs (the remainder is almost exclusively in Japanese yen). During the 3rd quarter the Swiss francs exchange rate was around 0.9439 CHF to the Euro. The Swiss franc has appreciated by 71.6% since the start of 2008.<\/p><h2 class=\"wp-block-heading\">Journalists may address further enquiries to:<\/h2><p class=\"wp-block-paragraph\">Boris Gr&ouml;ndahl (FMA Media Spokesperson)<\/p><p class=\"wp-block-paragraph\">Telephone: <a href=\"tel:00431249596010\" target=\"_blank\" rel=\"noopener\" class=\"external\">+43 (1) 249 59-6010<\/a><\/p><p class=\"wp-block-paragraph\">Mobile: <a href=\"tel:004367688249995\" target=\"_blank\" rel=\"noopener\" class=\"external\">+43 676 8824 9995<\/a><\/p><p class=\"wp-block-paragraph\">E-Mail: <a href=\"mailto:boris.groendahl@fma.gv.at\" target=\"_blank\" rel=\"noreferrer noopener\">boris.groendahl@fma.gv.at<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FMA analysis on FX lending in Q3 2024.<\/p>\n","protected":false},"author":20,"featured_media":46272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[80],"tags":[],"class_list":["post-442843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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