Household debt also increased to above 61% of GDP in the second quarter of the year
The net financial wealth of families stood at 1.71 trillion euros in the second quarter, representing an increase of 7.2% in the interannual rate, according to the financial accounts published by the Bank of Spain this Monday, which reflect also a slight increase in household debt to 61.4% of GDP.
The total balance of financial assets (cash, shares, deposits and rental securities) reached maximum levels of 2.48 trillion euros in the second quarter, 5.1% more than a year before and a figure equivalent to 214, 1% of GDP.
This upturn reflects the net acquisition of financial assets, which amounted to 68,800 million euros in the last year, concentrated in deposits and, to a lesser extent, in mutual funds. To this was added a revaluation of the same by 51,100 million euros, mainly concentrated in the first half of 2021.
By component, the bulk of household financial assets were in cash and deposits (41% of the total), followed by equity holdings (25%), insurance and pension funds (16%), and equity holdings (16%). investment (15%).
Precisely, this last component was the one that increased its weight the most in household financial assets in the last year (1.8 points more), while the weight of equity holdings was the one that decreased the most (1.5 points less) as a result, fundamentally, of the transactions component, which was negative.
For its part, the consolidated debt of companies and households and NPISH reached 1.67 trillion euros in the second quarter of the year, a figure equivalent to 144.2% of GDP and representing a rise of 1.8% compared to the second quarter of 2020.
The increase in aggregate debt is the result of an increase in the consolidated debt of non-financial corporations from 933,000 to 961,000 million euros, reaching 82.8% of GDP (if intercompany debt were included, the ratio would be 106 , 4%), while that of households and NPISHs grew slightly from 711,000 to 712,000 million euros, to stand at 61.4% of GDP.
The accumulated net operations in the last four quarters, corresponding to the consolidated financing received by companies and households and NPISHs, was 34,400 million euros, which represented 3% of GDP.
In net terms, non-financial corporations raised new financing equivalent to 2.5% of GDP, while households and NPISHs raised financing for an amount that amounted to 0.5% of GDP.
.