The Banque centrale du Luxembourg informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 960 006 million euros on 31 January 2023, compared to 938 189 million euros on 31 December 2022, an increase of 2.33%. This increase is due to the monthly progression of loans towards the banking sectors on the asset side and to deposits from the banking sector as well as from other sector on the liabilities side. On an annual basis, the aggregated balance sheet decreased by 1.1%.

Net interbank lending, i.e. the difference between interbank loans and deposits, increased by 7 032 million euros (3.2%) to reach 224 391 million euros at the end of January 2023.

Loans to resident non-bank customers increased by 2 859 million euros, or 2.5%, between December 2022 and January 2023. Over twelve months, these loans increased by 2 189 million euros (1.9%).

On a yearly basis, loans to non-financial corporations (NFCs) increased by 1 351 million euros (4.9%), loans for house purchases increased by 1 727 million euros (4.3%) and loans to other financial intermediaries (OFIs) decreased by 1 745 million euros (4.2%).

With regard to the liability side, deposits from the resident non-bank sector increased by 3 062 million euros or 1.01% between December 2022 and January 2023. Over twelve months, these deposits decreased by 14 985 million euros, or 4.7%.

Between January 2022 and January 2023, Other financial intermediaries (OFI) deposits (which had a share of 69.1% as at 31 January 2023 and comprised deposits made up by monetary and non-monetary investment funds) decreased by 18 179 million euros (7.9%) and household deposits increased by 41 million euros (0.1%). NFC deposits increased by 2 014 million euros (9.7%) and deposits from the other sectors[1] increased by 1 139 million euros (4.6%).

The tables pertaining to the balance sheet of credit institutions can be consulted on the BCL’s website on the following page:

http://www.bcl.lu/en/statistics/series_statistiques_luxembourg/11_credit_institutions/index.html

Evolution of reserve requirement

The Banque centrale du Luxembourg (BCL) informs that the reserve requirement, for the maintenance period from 8 February 2023 to 21 March 2023, amounts to 6 054 million euros.

The minimum reserves for credit institutions to hold with the BCL have decreased by 417 million euros compared to the previous maintenance period.

Statistical series relating to the minimum reserve requirements of credit institutions are accessible on the BCL's website using the following link:

http://www.bcl.lu/en/statistics/series_statistiques_luxembourg/01_Mon_Pol_Stat/index.html

[1] General government, insurance corporations and pension funds.